REGISTERED NUMBER: 15066689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025

FOR

CRAFT AND CANVAS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M G Baker

M A Leith

REGISTERED OFFICE:

3 Carlton Street

Hebden Bridge

West Yorkshire

HX7 8ER

REGISTERED NUMBER:

15066689 (England and Wales)

ACCOUNTANTS:

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

FIXED ASSETS

Intangible assets

4

12,000

16,000

Tangible assets

5

5,893

7,366

17,893

23,366

CURRENT ASSETS

Stocks

54,454

45,184

Debtors

6

4,609

16,956

Cash at bank and in hand

31,082

12,848

90,145

74,988

CREDITORS

Amounts falling due within one year

7

106,021

88,333

NET CURRENT LIABILITIES

(15,876

)

(13,345

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,017

10,021

PROVISIONS FOR LIABILITIES

1,120

1,400

NET ASSETS

897

8,621

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

797

8,521

SHAREHOLDERS' FUNDS

897

8,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th December 2025 and were signed on its behalf by:

M G Baker - Director

1.	STATUTORY INFORMATION

Craft And Canvas Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Fixed assets are initial recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st September 2024

and 31st August 2025

20,000

AMORTISATION

At 1st September 2024

4,000

Amortisation for year

4,000

At 31st August 2025

8,000

NET BOOK VALUE

At 31st August 2025

12,000

At 31st August 2024

16,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st September 2024

and 31st August 2025

8,636

DEPRECIATION

At 1st September 2024

1,270

Charge for year

1,473

At 31st August 2025

2,743

NET BOOK VALUE

At 31st August 2025

5,893

At 31st August 2024

7,366

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

4,375

4,375

VAT

-

12,581

Prepayments and accrued income

234

-

4,609

16,956

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,714

2,194

Tax

592

1,889

VAT

3,847

-

Directors' current accounts

97,618

80,317

Accrued expenses

2,250

3,933

106,021

88,333

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

17,500

17,500

Between one and five years

45,208

62,708

62,708

80,208

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100