REGISTERED NUMBER:
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CRAFTS TOO LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 JUNE 2016 |
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REGISTERED NUMBER:
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CRAFTS TOO LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 JUNE 2016 |
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CRAFTS TOO LIMITED (REGISTERED NUMBER: 04850140) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the year ended 30 June 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
CRAFTS TOO LIMITED |
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COMPANY INFORMATION |
for the year ended 30 June 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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CRAFTS TOO LIMITED (REGISTERED NUMBER: 04850140) |
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ABBREVIATED BALANCE SHEET |
30 June 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the director on
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CRAFTS TOO LIMITED (REGISTERED NUMBER: 04850140) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the year ended 30 June 2016 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
The turnover shown in the profit and loss account represents amounts receivable for goods and services |
provided during the year in the normal course of business, net of trade discounts, VATand other sales and related |
taxes. |
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Goodwill |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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AMORTISATION |
At 1 July 2015 |
and 30 June 2016 |
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NET BOOK VALUE |
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At 30 June 2016 |
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At 30 June 2015 |
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CRAFTS TOO LIMITED (REGISTERED NUMBER: 04850140) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the year ended 30 June 2016 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | 1 |
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5. | RELATED PARTY DISCLOSURES |
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The company is under the control of the director, P Smith, who is the sole shareholder. |
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As at 30 June 2016 the company was owed by the director £15,816 (2015 the company owed £52,675 to the |
director). This loan is considered repayable on demand. During the year interest was charged on this loan at 3%. |
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During the year the following transactions took place with The Art of Craft Limited, a company in which P |
Smith's wife is the sole director and shareholder: |
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Sales: £75,036 (2015 - £103,342) |
Purchases: £2,417 (2015 - £4,215) |
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As at 30 June 2016 £4,512 (2015 - £4,597) was owed to The Art of Craft Limited. This amount is included |
within trade creditors. |
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As at 30 June 2016 £16,275 (2015 - £18,754) was owed from The Art of Craft Limited. This amount is included |
within trade debtors. |
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The company rents premises owned by the director, P Smith and his wife. The rent payable on this property for |
the year was £22,500 (2015 - £22,500). |