Crash Records Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11656663

CRASH RECORDS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 January 2025

CRASH RECORDS LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	6		5,979	6,138

CURRENT ASSETS

Stocks		45,595	36,441
Debtors	7	9,014	3,517
Cash at bank and in hand		231,165	213,065
		---------	---------
		285,774	253,023

CREDITORS: amounts falling due within one year	8	( 191,634)		( 187,346)
		---------		---------
NET CURRENT ASSETS			94,140	65,677
			---------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES			100,119	71,815

PROVISIONS	( 1,495)	( 1,534)
	---------	--------
NET ASSETS	98,624	70,281
	---------	--------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	98,524	70,181
	--------	--------
SHAREHOLDERS FUNDS	98,624	70,281
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CRASH RECORDS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 10 October 2025 , and are signed on behalf of the board by:

I De-Whytell	P Hodgson
Director	Director

S Gamble
Director

Company registration number: 11656663

CRASH RECORDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 The Headrow, Leeds, West Yorkshire, LS1 6PU.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).

5. TAX ON PROFIT

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	41,214	40,846
Adjustments in respect of prior periods	–	( 1)
	--------	--------
Total current tax	41,214	40,845
	--------	--------

Deferred tax:

Origination and reversal of timing differences	( 40)	1,290
	--------	--------
Tax on profit	41,174	42,135
	--------	--------

6. TANGIBLE ASSETS

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 February 2024	5,599	5,013	10,612
Additions	1,790	308	2,098
	-------	-------	--------
At 31 January 2025	7,389	5,321	12,710
	-------	-------	--------
Depreciation
At 1 February 2024	1,487	2,987	4,474
Charge for the year	1,364	893	2,257
	-------	-------	--------
At 31 January 2025	2,851	3,880	6,731
	-------	-------	--------
Carrying amount
At 31 January 2025	4,538	1,441	5,979
	-------	-------	--------
At 31 January 2024	4,112	2,026	6,138
	-------	-------	--------

7. DEBTORS

	2025	2024
	£	£
Other debtors	9,014	3,517
	-------	-------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	33,432	22,765
Corporation tax	41,214	40,846
Social security and other taxes	929	20,721
Other creditors	32,017	39,100
Ticket creditor	64,308	45,323
Other creditors	19,734	18,591
	---------	---------
	191,634	187,346
	---------	---------