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REGISTERED NUMBER: 05349438 (England and Wales)















CRAFTWORK UPHOLSTERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






CRAFTWORK UPHOLSTERY LIMITED (REGISTERED NUMBER: 05349438)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRAFTWORK UPHOLSTERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: R Carr





REGISTERED OFFICE: 88 Armley Road
Leeds
LS12 2EJ





REGISTERED NUMBER: 05349438 (England and Wales)





ACCOUNTANTS: DSC
Chartered Accountants
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT

CRAFTWORK UPHOLSTERY LIMITED (REGISTERED NUMBER: 05349438)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 127,165 87,315

CURRENT ASSETS
Stocks 363,378 381,794
Debtors 5 1,230,457 1,100,455
Cash at bank and in hand 100,550 11,615
1,694,385 1,493,864
CREDITORS
Amounts falling due within one year 6 1,150,701 907,601
NET CURRENT ASSETS 543,684 586,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

670,849

673,578

CREDITORS
Amounts falling due after more than one
year

7

(103,498

)

(65,848

)

PROVISIONS FOR LIABILITIES (27,581 ) (12,687 )
NET ASSETS 539,770 595,043

CAPITAL AND RESERVES
Called up share capital 475,000 475,000
Retained earnings 64,770 120,043
SHAREHOLDERS' FUNDS 539,770 595,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CRAFTWORK UPHOLSTERY LIMITED (REGISTERED NUMBER: 05349438)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 May 2025 and were signed by:





R Carr - Director


CRAFTWORK UPHOLSTERY LIMITED (REGISTERED NUMBER: 05349438)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Craftwork Upholstery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

CRAFTWORK UPHOLSTERY LIMITED (REGISTERED NUMBER: 05349438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 50 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 50,545 101,882 3,411 155,838
Additions 3,950 79,717 815 84,482
Disposals - (66,752 ) - (66,752 )
At 31 May 2024 54,495 114,847 4,226 173,568
DEPRECIATION
At 1 June 2023 4,179 63,913 431 68,523
Charge for year 5,450 33,117 845 39,412
Eliminated on disposal - (61,532 ) - (61,532 )
At 31 May 2024 9,629 35,498 1,276 46,403
NET BOOK VALUE
At 31 May 2024 44,866 79,349 2,950 127,165
At 31 May 2023 46,366 37,969 2,980 87,315

The net book value of tangible fixed assets includes £ 109,257 (2023 - £ 70,652 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 629,036 627,527
Amounts owed by group undertakings 521,108 462,095
Prepayments 72,833 10,833
Tax 7,480 -
1,230,457 1,100,455

CRAFTWORK UPHOLSTERY LIMITED (REGISTERED NUMBER: 05349438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 44,375 5,000
Hire purchase contracts 37,318 20,774
Trade creditors 402,355 252,957
Tax - 8,008
Social security and other taxes 25,770 27,739
VAT 40,440 62,913
Other creditors 11,264 5,759
Ultimate Finance 502,773 398,543
Accrued expenses 86,406 125,908
1,150,701 907,601

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 37,823 7,846
Hire purchase contracts 65,675 40,454
Ultimate Finance - 17,548
103,498 65,848

8. OTHER FINANCIAL COMMITMENTS

The company has agreement in place regarding the lease of 88 Armley Road, Leeds, LS12 2EJ with the following commitments:

Due within one year £130,000
Due within two to five years £520,000
Due over five years £146,250

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Carr Holdings Limited, a company registered in England and Wales whose registered office is 11 Mellington Close, Sheffield, S8 8JZ.