Crafting Light Ltd

Contents

Company Information	1
Director's Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 10

Crafting Light Ltd

Company Information

Director	Mr Neil Hughes

Registered office

Ground Floor 19 New Road Brighton East Sussex BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP Ground Floor 19 New Road Brighton East Sussex BN1 1UF

Crafting Light Ltd

Director's Report for the Year Ended 28 February 2025

The director presents his report and the financial statements for the year ended 28 February 2025.

Director of the company

The director who held office during the year was as follows:

Mr Neil Hughes

Small companies provision statement

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.

Approved by the director on 15 October 2025 and signed on its behalf by:

......................................... Mr Neil Hughes Director

Crafting Light Ltd

(Registration number: 11221657)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed Assets
Tangible Assets	5	9,250	2,469
Current assets
Debtors	6	6,933	11,692
Cash at bank and in hand		5,129	4,761
		12,062	16,453
Creditors: Amounts falling due within one year	7	(10,795)	(10,649)
Net current assets		1,267	5,804
Total assets less current liabilities		10,517	8,273
Creditors: Amounts falling due after more than one year	7	(5,547)	(7,114)
Provisions for liabilities		(1,758)	(469)
Net assets		3,212	690
Capital and Reserves
Called up share capital		100	100
Retained Earnings		3,112	590
Shareholders' funds		3,212	690

For the financial year ending 28 February 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 and Director's Report.

Approved and authorised by the director on 15 October 2025
 

......................................... Mr Neil Hughes Director

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

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

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the director on 15 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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	Straight Line 33%
Furniture and fittings	Reducing Balance 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

	2025  No.	2024  No.
Administration and support	1	1
	1	1

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	2,652	2,486

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

5	Tangible Assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 March 2024	10,930	10,930
Additions	9,433	9,433
Disposals	(2,431)	(2,431)
At 28 February 2025	17,932	17,932
Depreciation
At 1 March 2024	8,461	8,461
Charge for the year	2,652	2,652
Eliminated on disposal	(2,431)	(2,431)
At 28 February 2025	8,682	8,682
Carrying amount
At 28 February 2025	9,250	9,250
At 29 February 2024	2,469	2,469

6

Debtors

Current	2025 £	2024 £
Trade Debtors	2,600	3,575
Other debtors	4,333	8,117
	6,933	11,692

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	3,200	3,200
Trade Creditors		89	68
Taxation and social security		6,396	6,271
Accruals and deferred income		1,110	1,110
		10,795	10,649

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	5,547	7,114

Crafting Light Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,547	7,114

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,200	3,200

9	Related party transactions

Loans to related parties

2025	Key management £	Total £
At start of period	8,116	8,116
Repaid	(3,783)	(3,783)
At end of period	4,333	4,333

2024	Key management £	Total £
At start of period	12,554	12,554
Advanced	8,116	8,116
Repaid	(12,554)	(12,554)
At end of period	8,116	8,116

Terms of loans to related parties

During the year the company made a loan to the director, the loan was unsecured and repayable upon demand. Interest was charged on the loan at official rate on average balance.