Company Registration No. 8168115 (England and Wales)
cCrafts Ltd
Abbreviated unaudited accounts
for the year ended 31 March 2016
cCrafts Ltd
Abbreviated Balance Sheet
as at 31 March 2016
Tangible assets
121,822
108,786
Cash at bank and in hand
45,024
80,518
Creditors: amounts falling due within one year
(350,283)
(351,127)
Net current assets
103,047
132,687
Total assets less current liabilities
224,869
241,473
Creditors: amounts falling due after more than one year
(145,357)
(180,000)
Provisions for liabilities
(11,403)
(12,584)
Called up share capital
100
100
Profit and loss account
68,009
48,789
Total shareholders' funds
68,109
48,889
For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 29 May 2016
Mr C Crombie
Director
Company Registration No. 8168115
cCrafts Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
2
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
At 1 April 2015
162,642
30,811
193,453
Additions
9,747
7,634
17,381
At 31 March 2016
172,389
38,445
210,834
At 1 April 2015
73,512
11,155
84,667
Charge for the year
2,437
1,908
4,345
At 31 March 2016
75,949
13,063
89,012
At 31 March 2016
96,440
25,382
121,822
At 31 March 2015
89,130
19,656
108,786
cCrafts Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
