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COMPANY REGISTRATION NUMBER: 3349450
Crawford Controls Limited
Filleted Unaudited Financial Statements
31 December 2024
Crawford Controls Limited
Financial Statements
Year ended 31 December 2024
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Crawford Controls Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Crawford Controls Limited
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crawford Controls Limited for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Crawford Controls Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Crawford Controls Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do accept or assume responsibility to anyone other than Crawford Controls Limited and its director for our work or for this report.
It is your duty to ensure that Crawford Controls Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crawford Controls Limited. You consider that Crawford Controls Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Crawford Controls Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
16 May 2025
Crawford Controls Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,204
2,188
Current assets
Stocks
80,751
106,086
Debtors
6
237,983
242,674
Cash at bank and in hand
8,118
47,136
---------
---------
326,852
395,896
Creditors: amounts falling due within one year
7
130,782
95,079
---------
---------
Net current assets
196,070
300,817
---------
---------
Total assets less current liabilities
198,274
303,005
Creditors: amounts falling due after more than one year
8
30,625
Provisions
Taxation including deferred tax
551
---------
---------
Net assets
197,723
272,380
---------
---------
Crawford Controls Limited
Statement of Financial Position (continued)
31 December 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
197,721
272,378
---------
---------
Shareholders funds
197,723
272,380
---------
---------
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 December 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 15 May 2025 , and are signed on behalf of the board by:
Mr D W Marshall
Director
Company registration number: 3349450
Crawford Controls Limited
Notes to the Financial Statements
Year ended 31 December 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 929 Abbeydale Road, Sheffield, S7 2QD.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less ) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture and office equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Computer and IT equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Land and buildings
Motor vehicles
Computer and IT equipment
Total
£
£
£
£
Cost
At 1 January 2024
405
5,325
1,709
7,439
Additions
826
826
----
-------
-------
-------
At 31 December 2024
405
5,325
2,535
8,265
----
-------
-------
-------
Depreciation
At 1 January 2024
193
3,921
1,137
5,251
Charge for the year
31
351
428
810
----
-------
-------
-------
At 31 December 2024
224
4,272
1,565
6,061
----
-------
-------
-------
Carrying amount
At 31 December 2024
181
1,053
970
2,204
----
-------
-------
-------
At 31 December 2023
212
1,404
572
2,188
----
-------
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
233,086
171,378
Amounts owed by group undertakings and undertakings in which the company has a participating interest
66,117
Other debtors
4,897
5,179
---------
---------
237,983
242,674
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,698
17,500
Trade creditors
58,971
46,297
Amounts owed to group undertakings and undertakings in which the company has a participating interest
44,407
Corporation tax
4,532
Social security and other taxes
15,981
19,303
Other creditors
4,193
11,979
---------
--------
130,782
95,079
---------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,625
----
--------
Included in bank loans and overdrafts, in the two notes above, is a total of £Nil (2023 £48,125) of bank loan, secured on the assets of the company, as well as property belonging to Bradley Refrigeration Ltd, a sister company in the same group. The interest rate is 5.5% above base. The loan has been fully repaid as of December 2024.
9. Related party transactions
A loan account exits between Crawford Controls Limited and Sub Zero Holdings Ltd, a company related by common control and directorship. Included in amounts owed by group undertakings at the balance sheet date is an amount of £44,407 (2023 £65,284 owing from Sub Zero Holdings Ltd to the company) owing to Sub Zero Holdings Ltd from the company. No interest is being charged on this loan, which is repayable on demand. Sub Zero Holdings Ltd also controls Bradley Refrigeration Limited, by virtue of common directorship and it owning 100% of the share capital, and so at the balance sheet date, Bradley Refrigeration Ltd was a company under common control. During the year the company advanced a loan to Bradley Refrigeration Ltd, a company related by common control and directorship. Included in amounts owed by group undertakings at the balance sheet date is an amount of £nil (2023 £833) owing from Bradley Refrigeration Ltd to the company. No interest is being charged on this loan, which is repayable on demand. During the year, Bradley Refrigeration Ltd invoiced Crawford Controls Ltd for goods and services in the value of £Nil plus VAT (2023 £3,502) and there was an amount owing to Bradley Refrigeration Ltd of £Nil (2023 £115) at the year end, included in trade creditors above. During the year, Crawford Controls Ltd invoiced Bradley Refrigeration Ltd for goods in the value of £171,933 (2023 £83,558) and there was an amount owing to Crawford Controls Ltd at the year end date of £49,533 (2023 £12,927) included in trade debtors above.
10. Controlling party
The ultimate controlling party is Sub Zero Holdings Ltd, a company registered in the United Kingdom, by virtue of its ownership of the entire issued share capital of the company. Sub Zero Holdings Ltd is in turn owned by Mr David and Mrs Joanne Marshall by virtue of their ownership of 100% of the share capital. Mr David Marshall is also the sole director of Crawford Controls Ltd. There is no requirement to prepare group accounts.