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CR DESIGN LTD

Registered Number
07448284
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

CR DESIGN LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Gareth Michael Chubb
Helen Catrina Richards

Registered Address

Unit 42 Cardiff Business Park
Lambourne Crescent
Cardiff
CF14 5GG

Registered Number

07448284 (England and Wales)
CR DESIGN LTD
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4238,032247,494
238,032247,494
Current assets
Debtors5255,073635,376
Cash at bank and on hand52,285-
307,358635,376
Creditors amounts falling due within one year6(379,415)(621,632)
Net current assets (liabilities)(72,057)13,744
Total assets less current liabilities165,975261,238
Creditors amounts falling due after one year7(125,529)(144,791)
Provisions for liabilities9(12,656)(12,377)
Net assets27,790104,070
Capital and reserves
Called up share capital101101
Profit and loss account27,689103,969
Shareholders' funds27,790104,070
The financial statements were approved and authorised for issue by the Board of Directors on 6 May 2025, and are signed on its behalf by:
Gareth Michael Chubb
Director
Helen Catrina Richards
Director

Registered Company No. 07448284
CR DESIGN LTD
Notes to the Financial Statements
for the year ended 31 December 2024

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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated 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.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised. Good Will is amortised on a 10% straight line basis
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 (%)Straight line (years)
Land and buildings-50
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year119
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2437,35537,355
At 31 December 2437,35537,355
Amortisation and impairment
At 01 January 2437,35537,355
At 31 December 2437,35537,355
Net book value
At 31 December 24--
At 31 December 23--
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 24188,32959,54025,84776,435350,151
Revaluations-12,0014121,59914,012
At 31 December 24188,32971,54126,25978,034364,163
Depreciation and impairment
At 01 January 2418,46220,81616,20647,173102,657
Charge for year3,7679,6812,4447,58223,474
At 31 December 2422,22930,49718,65054,755126,131
Net book value
At 31 December 24166,10041,0447,60923,279238,032
At 31 December 23169,86738,7249,64129,262247,494
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables114,522542,724
Other debtors138,26888,184
Prepayments and accrued income2,2834,468
Total255,073635,376
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables52,92845,904
Bank borrowings and overdrafts12,90798,211
Taxation and social security84,999119,741
Finance lease and HP contracts6,2016,704
Other creditors115,380120,272
Accrued liabilities and deferred income107,000230,800
Total379,415621,632
Included within bank loans is a Business loan secured by a charge.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts93,807106,942
Other creditors31,72237,849
Total125,529144,791
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts31,72237,849
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,65612,377
Total12,65612,377