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Registered number: 09518935
S-Craft Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09518935
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 137,394 147,500
Tangible Assets 5 72,860 19,732
210,254 167,232
CURRENT ASSETS
Stocks 6 274,076 213,720
Debtors 7 462,269 517,054
Cash at bank and in hand 5,212 10,348
741,557 741,122
Creditors: Amounts Falling Due Within One Year 8 (499,435 ) (584,225 )
NET CURRENT ASSETS (LIABILITIES) 242,122 156,897
TOTAL ASSETS LESS CURRENT LIABILITIES 452,376 324,129
Creditors: Amounts Falling Due After More Than One Year 9 (123,309 ) (3,742 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,749 )
NET ASSETS 329,067 316,638
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 328,967 316,538
SHAREHOLDERS' FUNDS 329,067 316,638
Page 1
Page 2
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.
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 Profit and Loss Account.
On behalf of the board
Mr Gerard Hutchins
Director
3 September 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
S-Craft Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09518935 . The registered office is St Georges House Dragons Lane, Moston, Sandbach, CW11 3PA.
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 profit and loss account over its estimated economic life of 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Intelectual Property Rights. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.6. 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 profit and loss account 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 profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. 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: 13 (2023: 12)
13 12
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2024 262,000 118,090 380,090
Additions - 6,525 6,525
As at 31 December 2024 262,000 124,615 386,615
Amortisation
As at 1 January 2024 188,250 44,340 232,590
Provided during the period 7,500 9,131 16,631
As at 31 December 2024 195,750 53,471 249,221
Net Book Value
As at 31 December 2024 66,250 71,144 137,394
As at 1 January 2024 73,750 73,750 147,500
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 8,985 1,686 30,156 40,827
Additions 36,995 11,255 23,930 72,180
Disposals (8,985 ) - - (8,985 )
As at 31 December 2024 36,995 12,941 54,086 104,022
Depreciation
As at 1 January 2024 2,246 1,188 17,661 21,095
Provided during the period 8,122 1,591 3,723 13,436
Disposals (3,369 ) - - (3,369 )
As at 31 December 2024 6,999 2,779 21,384 31,162
Net Book Value
As at 31 December 2024 29,996 10,162 32,702 72,860
As at 1 January 2024 6,739 498 12,495 19,732
6. Stocks
2024 2023
£ £
Stock 274,076 213,720
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 401,574 501,697
Other debtors 60,695 15,357
462,269 517,054
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,833 1,872
Trade creditors 321,821 287,939
Bank loans and overdrafts 104,102 21,806
Other creditors 20,649 201,643
Taxation and social security 38,030 70,965
499,435 584,225
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,546 3,742
Bank loans 88,763 -
123,309 3,742
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,833 1,872
Later than one year and not later than five years 34,546 3,742
49,379 5,614
49,379 5,614
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Alistair Simpson (12,866 ) 83,039 (59,637 ) - 10,536
Mr Gerard Hutchins - 22,000 - - 22,000
The above loan is unsecured, interest free and repayable on demand.
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