Craft Buddy Ltd

	Page
Company Information	1
Directors' Report	2—3
Accountant's Report	4
Profit and Loss Account	5
Balance Sheet	6
Notes to the Financial Statements	7—10

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Craft Buddy Ltd

Company No. 07236303

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal Activity

The company's principal activities are wholesale trading and retail sale via mail order houses or via internet

Review of the Business

2024 YEAR END ACCOUNTS – DIRECTOR’S STATEMENT

2024 REVIEW OF BUSINESS

2024 was a landmark year for Craft Buddy, with revenue growing 37% to a record £11.6M. Operating profit grew to £1.8M, a 12% increase. We are pleased with the growth of our FOB business, which grew 84%, driven by strong partnerships with both international distributors, and UK retailers.

Our Trade Business also grew 30% and is our largest channel, building on our strong relationships in the UK and Germany as well as a number of international Distributors who have been instrumental in broadening our geographical footprint, including new markets such as Poland, Portugal and the Middle East.

Our traditional channel of TV shopping was challenged, and we lost ground in all our 3 main markets, with the UK seeing the steepest decline following the administration of HOCHANDA, trading as Create & Craft TV. This drop was more than compensated by direct-to-consumer Web sales, which more than doubled to become our second largest channel. We were particularly pleased with the performance on Tik Tok Shop – a new channel for us – which rose rapidly to become our strongest D2C channel. TikTok allowed us to reach a younger customer base, which strengthens our position in the market, and our strong performance was recognised at the end of the year with a prestigious TikTok Shop Award.

We have continued our strategy of using globally renowned Licences to drive interest in our product offering, and expand our consumer demographic. The outstanding performance of the Disney 100 Sticker Album, an innovation which sold 1.6 million units in 2024, confirmed our belief in our product development team’s ability to create new and exciting products which resonate across broad demographics. We also won 24 industry awards during the year, including the London Toy Fair Hero Award, and were featured in national press and broadcast media such as This Morning (ITV), the Daily Mail and the Mirror.

Operationally, 2024 was a year of investment and expansion. We grew headcount by 11 to 38 people, with only one leaver for personal reasons – a fantastic achievement that reflects the strength of our team culture and retention. We also completed the purchase and refurbishment of new facilities at Unit 13 Anglo Business Park. Logistically we handled record shipping volumes at our UK facilities.

2025 – A LOOK AHEAD

We anticipate continued revenue growth, but at more modest levels than the previous 2 years. The Disney 100 Sticker album has an end date, so we expect sales to be strong in the final few months of trading. We are excited by the potential of the new Harry Potter Sticker album, as well as other novel and interesting products for our own brands which we are confident will see strong sales . Operationally, we will move to a new, modern and more capacious warehouse in Chesham, which will create efficiencies in our distribution process.

Directors

The directors who held office during the year were as follows:

Mr Dinesh Wadhwani

Mr Gaurav Wadhwani

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Craft Buddy Ltd

Directors' Report (continued)

For The Year Ended 31 December 2024

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Dinesh Wadhwani Director	Mr Gaurav Wadhwani Director
9 September 2025

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Craft Buddy Ltd

Accountant's Report

For The Year Ended 31 December 2024

Accountant's Report

Report to the directors on the preparation of the unaudited statutory accounts of Craft Buddy Ltd for the year ended 31 December 2024

To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Craft Buddy Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Craft Buddy Ltd , as a body, in accordance with the terms of our engagement letter dated 07 August 2023. Our work has been undertaken solely to prepare for your approval the accounts of Craft Buddy Ltd and state those matters that we have agreed to state to the directors of Craft Buddy Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Craft Buddy Ltd and its directors as a body for our work or for this report.

It is your duty to ensure that Craft Buddy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Craft Buddy Ltd . You consider that Craft Buddy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Craft Buddy Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

1 September 2025

The Accountancy People Manchester Limited

Phoenix House, 2 Huddersfield Road

Stalybridge

SK15 2QA

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Craft Buddy Ltd

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER		11,562,687	8,429,446
Cost of sales		(7,393,140 )	(5,193,278 )

GROSS PROFIT		4,169,547	3,236,168

Distribution costs		(12,781 )	-
Administrative expenses		(2,374,067 )	(1,644,376 )

OPERATING PROFIT		1,782,699	1,591,792
Other interest receivable and similar income		53,310	1,364
Interest payable and similar charges		-	(2,173 )

PROFIT BEFORE TAXATION		1,836,009	1,590,983
Tax on Profit		(430,334 )	(378,308 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,405,675	1,212,675

The notes on pages 7 to 10 form part of these financial statements.

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Craft Buddy Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,030,319		867,564

			1,030,319		867,564
CURRENT ASSETS
Stocks	5	2,098,162		2,049,539
Debtors	6	1,217,340		1,524,160
Cash at bank and in hand		687,509		1,519,894

		4,003,011		5,093,593
Creditors: Amounts Falling Due Within One Year	7	(1,166,947 )		(1,311,200 )

NET CURRENT ASSETS (LIABILITIES)			2,836,064		3,782,393

TOTAL ASSETS LESS CURRENT LIABILITIES			3,866,383		4,649,957

Creditors: Amounts Falling Due After More Than One Year	8		(135,098 )		-

NET ASSETS			3,731,285		4,649,957

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			3,731,185		4,649,857

SHAREHOLDERS' FUNDS			3,731,285		4,649,957

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 in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Dinesh Wadhwani Director	Mr Gaurav Wadhwani Director
9 September 2025

The notes on pages 7 to 10 form part of these financial statements.

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Craft Buddy Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Craft Buddy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07236303 . The registered office is Unit 7 Anglo Business Park Asheridge Road, Chesham, HP5 2QA.

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. 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:

Freehold	0%
Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	25% Reducing Balance

2.4. 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.

2.5. 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.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Craft Buddy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 36 (2023: 31)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2024	833,021	3,651	17,595	51,518
Additions	-	-	109,576	69,769
Disposals	-	-	(8,200 )	-

As at 31 December 2024	833,021	3,651	118,971	121,287

Depreciation
As at 1 January 2024	-	2,479	14,944	35,594
Provided during the period	-	293	7,390	9,306
Disposals	-	-	(6,619 )	-

As at 31 December 2024	-	2,772	15,715	44,900

Net Book Value
As at 31 December 2024	833,021	879	103,256	76,387

As at 1 January 2024	833,021	1,172	2,651	15,924

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Craft Buddy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2024	21,833	927,618
Additions	6,500	185,845
Disposals	-	(8,200 )

As at 31 December 2024	28,333	1,105,263

Depreciation
As at 1 January 2024	7,037	60,054
Provided during the period	4,520	21,509
Disposals	-	(6,619 )

As at 31 December 2024	11,557	74,944

Net Book Value
As at 31 December 2024	16,776	1,030,319

As at 1 January 2024	14,796	867,564

5. Stocks

	2024	2023
	£	£
Stock	2,098,162	2,049,539

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,062,534	889,053
Prepayments and accrued income	99,046	146,355
Other debtors	55,760	488,752

	1,217,340	1,524,160

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	9,051	-
Trade creditors	397,863	416,465
Corporation tax	118,284	378,308
Other taxes and social security	37,490	33,031
VAT	71,343	110,010
Other creditors	72,281	79,516
Accruals and deferred income	460,011	292,076
Directors' loan accounts	624	1,794

	1,166,947	1,311,200

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Craft Buddy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	34,762	-
Amounts owed to group undertakings	100,336	-

	135,098	-

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,051	-
Later than five years	34,762	-

	43,813	-

	43,813	-

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

11. Reserves

12. Related Party Transactions

During the year ending 31st December 2024 there was an amount owing by Craft Buddy Property Holdings Limited of £100,336 (2023: £Nil).

13. Ultimate Controlling Party

The company's ultimate controlling party is Craft Buddy Property Holdings Limited by virtue of it's ownership of 100% of the issued share capital in the company.

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