Crestel Projects Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07569004 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

CRESTEL PROJECTS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

L Haldron

H Lavers

S Fitzjohn

M Fitzjohn

REGISTERED OFFICE:

Croft Chambers

11 Bancroft

Hitchin

Herts

SG5 1JQ

REGISTERED NUMBER:

07569004 (England and Wales)

ACCOUNTANTS:

Bradshaw Johnson

Chartered Accountants

Croft Chambers

11 Bancroft

Hitchin

Hertfordshire

SG5 1JQ

FIXED ASSETS

Tangible assets

5

8,100

11,664

CURRENT ASSETS

Stocks

6

1,154,640

357,262

Debtors

7

1,208,170

909,488

Cash at bank

872,027

706,277

3,234,837

1,973,027

CREDITORS

Amounts falling due within one year

8

2,139,572

1,122,812

NET CURRENT ASSETS

1,095,265

850,215

TOTAL ASSETS LESS CURRENT LIABILITIES

1,103,365

861,879

PROVISIONS FOR LIABILITIES

1,539

2,216

NET ASSETS

1,101,826

859,663

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,101,726

859,563

SHAREHOLDERS' FUNDS

1,101,826

859,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2020 and were signed on its behalf by:

L Haldron - Director

1.	STATUTORY INFORMATION

Crestel Projects Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

and 31 March 2020

536

13,400

7,084

21,020

DEPRECIATION

At 1 April 2019

235

5,431

3,690

9,356

Charge for year

75

1,992

1,497

3,564

At 31 March 2020

310

7,423

5,187

12,920

NET BOOK VALUE

At 31 March 2020

226

5,977

1,897

8,100

At 31 March 2019

301

7,969

3,394

11,664

6.

STOCKS

31.3.20

31.3.19

£

£

Stocks

1,741

1,741

Work-in-progress

1,152,899

355,521

1,154,640

357,262

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

1,106,939

791,025

Other debtors

66,900

63,692

VAT

34,331

49,654

Prepayments and accrued income

-

5,117

1,208,170

909,488

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other loans

617,802

195,475

Trade creditors

1,133,797

783,207

Tax

59,885

55,634

Social security and other taxes

11,003

35,656

Pension liability

267

79

Other creditors

311,893

48,076

Accruals and deferred income

4,925

4,685

2,139,572

1,122,812

9.	ULTIMATE CONTROLLING PARTY

Not one shareholder owns more than 50% share capital and therefore all directors control the company in unison.