Croft Service Centre Limited Company Accounts

CROFT TRAVEL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08956271

Croft Service Centre Limited

Filleted Unaudited Financial Statements

31 March 2017

Croft Service Centre Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	4

Croft Service Centre Limited

Officers and Professional Advisers

Director	Mr L Beck

Company secretary	L Beck

Registered office	Meadowcroft Manor
	Willow Avenue
	Greencroft
	Stanley
	DH9 8JN

Accountants	Murray and Lamb
	Chartered accountant
	5 Royal Road
	Stanley
	Co. Durham
	DH9 8AJ

Bankers	Santander
	2 Triton Square
	Regents Place
	London
	NW1 3AN

Croft Service Centre Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Croft Service Centre Limited

Year ended 31 March 2017

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 Service Centre Limited for the year ended 31 March 2017, which comprise the statement of financial position 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 www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

Murray and Lamb Chartered accountant

5 Royal Road Stanley Co. Durham DH9 8AJ

28 December 2017

Croft Service Centre Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Current assets

Debtors	5	1,943	1,597
Cash at bank and in hand		–	148
		-------	-------
		1,943	1,745

Creditors: amounts falling due within one year	6	2,058		1,882
		-------		-------
Net current liabilities			115	137
			----	----
Total assets less current liabilities			( 115)	( 137)
			----	----
Net liabilities			( 115)	( 137)
			----	----

Capital and reserves

Called up share capital	10	10
Profit and loss account	( 125)	( 147)
	----	----
Shareholders deficit	( 115)	( 137)
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 December 2017 , and are signed on behalf of the board by:

Mr L Beck
Director

Company registration number: 08956271

Croft Service Centre Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Meadowcroft Manor, Willow Avenue, Greencroft, Stanley, DH9 8JN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 2 ).

5. Debtors

	2017	2016
	£	£
Trade debtors	1,943	1,597
	-------	-------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Social security and other taxes	144	1,362
Other creditors	1,914	520
	-------	-------
	2,058	1,882
	-------	-------

7. Related party transactions

The company was under the control of Mr Beck throughout the current and previous year. Mr Beck is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.