Red Button Craft Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07932909 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

RED BUTTON CRAFT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

D S A'Barrow

REGISTERED OFFICE:

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

REGISTERED NUMBER:

07932909 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Tangible assets

4

469

591

CURRENT ASSETS

Stocks

4,000

250

Debtors

5

26,187

13,058

Cash at bank

13,702

11,105

43,889

24,413

CREDITORS

Amounts falling due within one year

6

30,896

19,478

NET CURRENT ASSETS

12,993

4,935

TOTAL ASSETS LESS CURRENT LIABILITIES

13,462

5,526

CAPITAL AND RESERVES

Called up and paid share capital

50

50

Retained earnings

13,412

5,476

SHAREHOLDERS' FUNDS

13,462

5,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2024 and were signed by:

D S A'Barrow - Director

1.	STATUTORY INFORMATION

Red Button Craft Limited 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.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

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

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position 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 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

883

Additions

226

At 31 July 2023

1,109

DEPRECIATION

At 1 August 2022

292

Charge for year

348

At 31 July 2023

640

NET BOOK VALUE

At 31 July 2023

469

At 31 July 2022

591

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

22,537

5,980

Other debtors

3,650

7,078

26,187

13,058

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

17,287

10,519

Taxation and social security

1,907

3,439

Other creditors

11,702

5,520

30,896

19,478

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the directors operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £nil (2022 £3,087) and repayments amounting to £nil (2022 £nil). At the year end the amount owing to the company was £nil (2022 £3,087).