Company No: 08479886 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	1,820		3,554
Tangible assets	4	58,777		68,987
		60,597		72,541
Current assets
Stocks		195,520		248,657
Debtors	5	75,267		40,015
Cash at bank and in hand		67,582		96,513
		338,369		385,185
Creditors: amounts falling due within one year	6	( 333,887)		( 397,256)
Net current assets/(liabilities)		4,482		(12,071)
Total assets less current liabilities		65,079		60,470
Creditors: amounts falling due after more than one year	7	( 100,549)		( 31,250)
Provision for liabilities		0		( 11,066)
Net (liabilities)/assets		( 35,470)		18,154
Capital and reserves
Called-up share capital		200		200
Profit and loss account		( 35,670 )		17,954
Total shareholders' (deficit)/funds		( 35,470)		18,154

For the financial year ending 30 June 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Crimson Guitars Limited (registered number: 08479886) were approved and authorised for issue by the Board of Directors on 14 September 2026. They were signed on its behalf by:

T Webster Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Crimson Guitars Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Dairy, Piddlehinton, Dorchester, DT2 7TH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the balance sheet date, the company had net liabilities of £35,470.

The directors have considered the company's financial position, together with its expected future trading performance and cash flow requirements for a period of at least twelve months from the date of approval of these financial statements.

Having considered these matters, including the continued availability of financial support from the director(s)/shareholder(s), the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the financial statements have been prepared on the going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Turnover is recognised when the goods, services and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	6 years straight line
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Computer equipment	3 years straight line
Other property, plant and equipment	not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	18		18

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 July 2024	8,670		8,670
At 30 June 2025	8,670		8,670
Accumulated amortisation
At 01 July 2024	5,116		5,116
Charge for the financial year	1,734		1,734
At 30 June 2025	6,850		6,850
Net book value
At 30 June 2025	1,820		1,820
At 30 June 2024	3,554		3,554

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 July 2024	34,001		116,571		34,700		18,245		19,775		223,292
Additions	0		1,122		0		2,517		0		3,639
At 30 June 2025	34,001		117,693		34,700		20,762		19,775		226,931
Accumulated depreciation
At 01 July 2024	23,258		94,039		22,261		14,747		0		154,305
Charge for the financial year	5,209		3,548		3,110		1,982		0		13,849
At 30 June 2025	28,467		97,587		25,371		16,729		0		168,154
Net book value
At 30 June 2025	5,534		20,106		9,329		4,033		19,775		58,777
At 30 June 2024	10,743		22,532		12,439		3,498		19,775		68,987

During the year, the directors reassessed the estimated useful economic lives of the company’s plant and machinery and motor vehicles. As a result, the depreciation rate for plant and machinery has been revised from straight line basis over 5 years to 15% reducing balance per annum and motor vehicles have been revised from 5 years straight line to 25% reducing balance. The change has been accounted for prospectively as a change in accounting estimate. The effect of the change was to reduce the depreciation charge for the year by £11,979 and increase the carrying value of the tangible fixed assets by £11,979.

5. Debtors

	2025		2024
	£		£
Trade debtors	9,023		4,597
Amounts owed by directors	33,005		0
Prepayments	25,383		22,727
Deferred tax asset	2,820		0
Other debtors	5,036		12,691
	75,267		40,015

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	221,471		201,403
Trade creditors	18,412		12,061
Taxation and social security	9,859		26,882
Obligations under finance leases and hire purchase contracts	0		4,443
Other creditors	84,145		152,467
	333,887		397,256

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	100,549		31,250

8. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 July 2024, the balance owed to the directors was £14,575. During the year, £47,880 was advanced to the directors, and £300 was repaid by the directors. At 30 June 2025, the balance owed by the directors was £33,005.

At 1 July 2023, the balance owed by the directors was £7,515. During the year, £12,967 was advanced to the directors, and £35,057 was repaid by the directors. At 30 June 2024, the balance owed to the directors was £14,575.