2024-03-012025-02-282025-02-28false10642419THE CAMBRIDGE LOFT COMPANY 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THE CAMBRIDGE LOFT COMPANY LIMITED

Registered Number
10642419
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

THE CAMBRIDGE LOFT COMPANY LIMITED
Company Information
for the year from 1 March 2024 to 28 February 2025

Directors

BUGG, Stephen Gregory
DOBSON, Anthony Thomas
SMITH, Mark Edward

Company Secretary

DOBSON, Penny

Registered Address

8 Chippenham Road
Moulton
Newmarket
CB8 8SN

Registered Number

10642419 (England and Wales)
THE CAMBRIDGE LOFT COMPANY LIMITED
Balance Sheet as at
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets49,63621,801
9,63621,801
Current assets
Stocks522,7473,381
Debtors637,41715,936
Cash at bank and on hand10,43920,850
70,60340,167
Creditors amounts falling due within one year7(77,940)(62,125)
Net current assets (liabilities)(7,337)(21,958)
Total assets less current liabilities2,299(157)
Provisions for liabilities9(2,294)-
Net assets5(157)
Capital and reserves
Called up share capital34
Profit and loss account2(161)
Shareholders' funds5(157)
The financial statements were approved and authorised for issue by the Board of Directors on 7 May 2025, and are signed on its behalf by:
DOBSON, Anthony Thomas
Director
Registered Company No. 10642419
THE CAMBRIDGE LOFT COMPANY LIMITED
Notes to the Financial Statements
for the year ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20252024
Average number of employees during the year45
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 March 2430,58924,5101,12656,225
Additions2,3311,7503014,382
Disposals(10,862)(12,245)-(23,107)
At 28 February 2522,05814,0151,42737,500
Depreciation and impairment
At 01 March 2421,78012,20444034,424
Charge for year2,7703,0762486,094
On disposals(8,062)(4,592)-(12,654)
At 28 February 2516,48810,68868827,864
Net book value
At 28 February 255,5703,3277399,636
At 29 February 248,80912,30668621,801
5.Stocks

2025

2024

££
Work in progress22,7473,381
Total22,7473,381
6.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables13,2777,834
Other debtors-4,225
Prepayments and accrued income4,620-
Total17,89712,059
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables4,2697,602
Taxation and social security56,71353,177
Accrued liabilities and deferred income16,9581,346
Total77,94062,125
8.Creditors: amounts due after one year
9.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)2,294-
Total2,294-
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BUGG, Stephen Gregory9435,19306,136
DOBSON, Anthony Thomas1,4675,41306,880
SMITH, Mark Edward1,4675,03706,504
3,87715,643019,520