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Registration number: 11140549

Tony Craze Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Tony Craze Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Tony Craze Ltd

Company Information

Director

Nathan Craze

Registered office

13 United Downs Industrial Park
St Day
Redruth
Cornwall
TR16 5HY

Accountants

Julia Evans Accountants Ltd 79-81 Boslowick Road
Falmouth Road
Falmouth
Cornwall
TR11 4QD

 

Tony Craze Ltd

(Registration number: 11140549)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

104,337

41,435

Current assets

 

Stocks

36,406

27,556

Debtors

5

91,843

67,362

Cash at bank and in hand

 

35,569

44,127

 

163,818

139,045

Creditors: Amounts falling due within one year

6

(124,299)

(115,767)

Net current assets

 

39,519

23,278

Total assets less current liabilities

 

143,856

64,713

Creditors: Amounts falling due after more than one year

6

(70,826)

(13,333)

Provisions for liabilities

(19,824)

(7,873)

Net assets

 

53,206

43,507

Capital and reserves

 

Called up share capital

100

100

Retained earnings

53,106

43,407

Shareholders' funds

 

53,206

43,507

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Tony Craze Ltd

(Registration number: 11140549)
Balance Sheet as at 31 January 2025

Approved and authorised by the director on 6 June 2025
 

.........................................
Nathan Craze
Director

 

Tony Craze Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
13 United Downs Industrial Park
St Day
Redruth
Cornwall
TR16 5HY

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised on the accruals basis.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Tony Craze Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing balance basis

Motor vehicles

25% Reducing balance basis

Plant and machinery

25% Reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tony Craze Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2024 - 13).

 

Tony Craze Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

2,258

38,950

51,375

92,583

Additions

975

92,566

4,140

97,681

At 31 January 2025

3,233

131,516

55,515

190,264

Depreciation

At 1 February 2024

1,247

20,984

28,917

51,148

Charge for the year

497

27,633

6,649

34,779

At 31 January 2025

1,744

48,617

35,566

85,927

Carrying amount

At 31 January 2025

1,489

82,899

19,949

104,337

At 31 January 2024

1,011

17,966

22,458

41,435

5

Debtors

Current

2025
£

2024
£

Trade debtors

76,868

63,025

Prepayments

8,946

4,337

Other debtors

6,029

-

 

91,843

67,362

 

Tony Craze Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

18,476

17,701

Trade creditors

 

84,165

63,194

Taxation and social security

 

5,522

18,881

Accruals and deferred income

 

12,705

9,369

Other creditors

 

3,431

6,622

 

124,299

115,767

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

70,826

13,333

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

-

13,333

Hire purchase contracts

70,826

-

70,826

13,333

Current loans and borrowings

2025
£

2024
£

Bank borrowings

-

10,000

Hire purchase contracts

18,476

7,701

18,476

17,701