Croft Group UK Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06823683 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

Croft Group UK Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

K P Martin

SECRETARY:

C C Martin

REGISTERED OFFICE:

26 Hadham Road

Bishops Stortford

Hertfordshire

CM23 2QS

REGISTERED NUMBER:

06823683 (England and Wales)

ACCOUNTANTS:

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

FIXED ASSETS

Tangible assets

2

26,993

4,260

CURRENT ASSETS

Stocks

7,155

25,112

Debtors

113,519

23,892

Cash at bank and in hand

94,062

4,032

214,736

53,036

CREDITORS

Amounts falling due within one year

335,298

23,545

NET CURRENT (LIABILITIES)/ASSETS

(120,562

)

29,491

TOTAL ASSETS LESS CURRENT
LIABILITIES

(93,569

)

33,751

CREDITORS

Amounts falling due after more than one
year

135,250

474,660

NET LIABILITIES

(228,819

)

(440,909

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(228,919

)

(441,009

)

SHAREHOLDERS' FUNDS

(228,819

)

(440,909

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 June 2016 and were signed by:

K P Martin - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis which assumes that the company will

continue in operational existence for the foreseeable future.

The validly of this assumption depends on the continued support of the director and other companies which he

controls. The director is committed in providing this support for the foreseeable future and therefore believes it

is appropriate to prepare the accounts on the going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure

only.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the

balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that

it is more likely than not they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

5,960

Additions

33,024

Disposals

(236

)

At 29 February 2016

38,748

DEPRECIATION

At 1 March 2015

1,700

Charge for year

10,114

Eliminated on disposal

(59

)

At 29 February 2016

11,755

NET BOOK VALUE

At 29 February 2016

26,993

At 28 February 2015

4,260

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

100

Ordinary

£1

100

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Croft Group UK Limited for the year ended 29 February 2016 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Croft Group UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Croft Group UK Limited and state those matters that we have agreed to state to the director of Croft Group UK Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Croft Group UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Croft Group UK Limited. You consider that Croft Group UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Croft Group UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

29 June 2016