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Registered number: 07152546
Croft Business Services (UK) Ltd
Financial Statements
For The Year Ended 31 March 2025
Smith & Co Accountants Limited
ACCA
Unit G2
Tanfield Lea Business Centre
Stanley
Co Durham
DH9 9DB
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07152546
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 247,156 380,742
247,156 380,742
CURRENT ASSETS
Debtors 6 188,772 259,743
Cash at bank and in hand 2,518 34,872
191,290 294,615
Creditors: Amounts Falling Due Within One Year 7 (372,030 ) (394,709 )
NET CURRENT ASSETS (LIABILITIES) (180,740 ) (100,094 )
TOTAL ASSETS LESS CURRENT LIABILITIES 66,416 280,648
Creditors: Amounts Falling Due After More Than One Year 8 (90,161 ) (214,571 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (13,975 )
NET (LIABILITIES)/ASSETS (23,745 ) 52,102
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (23,845 ) 52,002
SHAREHOLDERS' FUNDS (23,745) 52,102
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Laurence Beck
Director
04/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Croft Business Services (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07152546 . The registered office is Office 5 Consett Business Park, Villa Real, Consett, Co. Durham, DH8 6BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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.
Deferred tax is recognised on 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2024: 25)
27 25
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 40,000
As at 31 March 2025 40,000
Amortisation
As at 1 April 2024 40,000
As at 31 March 2025 40,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 4,371 608,941 11,958 12,292 637,562
Disposals - (152,733 ) - - (152,733 )
As at 31 March 2025 4,371 456,208 11,958 12,292 484,829
...CONTINUED
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Page 5
Depreciation
As at 1 April 2024 3,757 235,943 9,409 7,711 256,820
Provided during the period 92 45,031 382 688 46,193
Disposals - (65,340 ) - - (65,340 )
As at 31 March 2025 3,849 215,634 9,791 8,399 237,673
Net Book Value
As at 31 March 2025 522 240,574 2,167 3,893 247,156
As at 1 April 2024 614 372,998 2,549 4,581 380,742
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 120,994 259,743
Deferred tax current asset 2,665 -
Directors' loan accounts 65,113 -
188,772 259,743
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 68,188 122,358
Trade creditors 10,545 13,125
Bank loans and overdrafts 26,706 48,000
PAYE liability 20,238 15,990
VAT 9,316 15,197
Intercompany loan 205,796 135,746
Company credit card 28,893 21,936
Pension liability 148 156
Accruals and deferred income 2,200 3,200
Directors' loan accounts - 19,001
372,030 394,709
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 90,161 166,083
Bank loans - 48,488
90,161 214,571
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 68,188 122,358
Later than one year and not later than five years 90,161 166,083
158,349 288,441
158,349 288,441
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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