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COMPANY REGISTRATION NUMBER: 10863114
Carpetcraft / Rugcraft Ltd
Filleted Unaudited Financial Statements
31 July 2024
Carpetcraft / Rugcraft Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
49
49
Current assets
Debtors
6
43,587
36,687
Cash at bank and in hand
339
543
--------
--------
43,926
37,230
Creditors: amounts falling due within one year
7
52,706
53,081
--------
--------
Net current liabilities
8,780
15,851
-------
--------
Total assets less current liabilities
( 8,731)
( 15,802)
-------
--------
Net liabilities
( 8,731)
( 15,802)
-------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 8,732)
( 15,803)
-------
--------
Shareholders deficit
( 8,731)
( 15,802)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 February 2025 , and are signed on behalf of the board by:
M Hall Esq
Director
Company registration number: 10863114
Carpetcraft / Rugcraft Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 August 2023 and 31 July 2024
49
----
Impairment
At 1 August 2023 and 31 July 2024
----
Carrying amount
At 31 July 2024
49
----
At 31 July 2023
49
----
6. Debtors
2024
2023
£
£
Trade debtors
6,900
Other debtors
36,687
36,687
--------
--------
43,587
36,687
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
8,948
8,949
Other creditors
43,758
44,132
--------
--------
52,706
53,081
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M Hall Esq
( 640)
595
( 45)
----
----
----
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M Hall Esq
( 5,352)
4,712
( 640)
-------
-------
----