Crescent Holdings Limited,Ltd - AccountsLtd - Accounts

Crescent Holdings Limited,Ltd - AccountsLtd - Accounts

CRESCENT HOLDINGS LIMITED - Company Information

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2019-04-01 01658685 2020-03-31 01658685 2019-04-01 2020-03-31 01658685 2019-03-31 01658685 2018-04-01 2019-03-31 01658685 uk-core:WithinOneYear 2019-03-31 01658685 uk-core:WithinOneYear 2020-03-31 01658685 uk-core:ShareCapital 2020-03-31 01658685 uk-core:ShareCapital 2019-03-31 01658685 uk-core:SharePremium 2020-03-31 01658685 uk-core:SharePremium 2019-03-31 01658685 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 01658685 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 01658685 uk-bus:Director1 2019-04-01 2020-03-31 01658685 uk-core:PlantMachinery 2019-04-01 2020-03-31 01658685 uk-core:MotorVehicles 2019-04-01 2020-03-31 01658685 uk-core:FurnitureFittings 2019-04-01 2020-03-31 01658685 uk-core:CostValuation 2019-03-31 01658685 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2019-03-31 01658685 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2020-03-31 01658685 uk-core:CostValuation 2020-03-31 01658685 uk-core:Non-currentFinancialInstruments 2020-03-31 01658685 uk-core:Non-currentFinancialInstruments 2019-03-31 01658685 uk-core:WithinOneYear 2020-03-31 01658685 uk-core:WithinOneYear 2019-03-31 01658685 uk-core:WithinOneYear 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure 01658685 uk-bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 01658685 uk-bus:FRS102 2019-04-01 2020-03-31 01658685 uk-bus:FullAccounts 2019-04-01 2020-03-31 01658685 uk-bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
Crescent Holdings Limited
Registered Number:01658685
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2020
Crescent Holdings Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
01658685
As at 31 March 2020
Crescent Holdings Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
35,584
45,702
Financial assets
100
100
2
35,684
45,802
Current assets
Inventories
115,000
305,600
3
Trade and other receivables
921,533
6,933
4
-
Cash and cash equivalents
415,034
727,567
1,036,533
Trade and other payables: amounts falling due within one
year
(2,218,169)
(1,893,974)
5
(1,181,636)
(1,166,407)
Net current liabilities
Total assets less current liabilities
(1,130,723)
(1,135,834)
(5,564)
-
Provisions for liabilities
(1,136,287)
Net liabilities
(1,135,834)
Capital and reserves
Called up share capital
419
419
Share premium account
26,982
26,982
Retained earnings
(1,163,688)
(1,163,235)
(1,136,287)
(1,135,834)
Shareholders' funds
For the year ended 31 March 2020 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 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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr ANTHONY MAX VAUGHAN READ Director
These financial statements were approved and authorised for issue by the Board on 22 September 2020 and were signed by:
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4
Registered Number :
01658685
For the year ended 31 March 2020
Crescent Holdings Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2020
Crescent Holdings Limited
Notes to the Financial Statements
Statutory Information
Crescent Holdings Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 01658685.
Principal place of business:
8 The Crescent
Taunton
Somerset
TA1 4EA
Registered address:
4 Dunsmore Close
Loughborough
Leicester
Leicestershire
LE11 3RD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Reducing balance
25% Reducing balance
Motor vehicles
10% Reducing balance
Fixtures and fittings
Inventories
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 March 2020
Crescent Holdings Limited
Notes to the Financial Statements Continued
2. Investments held as fixed assets
Shares in group and participating interests
Total
At 01 April 2019
100
100
Cost
£
£
At 31 March 2020
100
100
At 31 March 2020
Net book value
100
100
At 01 April 2019
100
100
Participating interests
Unquoted ordinary shares - at cost £100 (2019 £100)
Representing
Company, Country of incorporation, Class of shares held, Proportion of voting rights held, Nature of business
Emcastle Ltd, U.K, Ordinary, 0.5%, Property investment
3. Inventories
2019
2020
£
£
Stocks
305,600
115,000
4. Trade and other receivables
2019
2020
£
£
Amounts owed by group undertakings and participating interests
-
917,818
Prepayments and accrued income
5
454
Taxation and social security
6,928
3,261
921,533
6,933
Webneed Limited £Nil (2019 £290,727),Three Acorns Investments (2005) Ltd £Nil (2019 £283,932) and Energyshare Ltd £Nil (2019 £200,789) are associated companies by reason of common directorships and shareholding. Loans are interest free and repayable upon demand. A summary of intergroup loans is as follows:Annunciation Ltd. £1,851,228 creditor (2019 £72,879)Collina Builders Ltd £Nil (2019 £44,791)Cardo Properties Ltd £Nil (2019 £24,700)Total £1,851,228 creditor (2019 £142,370)
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For the year ended 31 March 2020
Crescent Holdings Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Bank loans and overdraft
23,994
74,215
Trade creditors
11,119
314
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
1,851,228
2,133,160
Taxation and social security
3,443
22
Accruals and deferred income
2,090
3,358
Other creditors
2,100
7,100
1,893,974
2,218,169
Myer Construction Limited £Nil (2019 £60,550) and Majorfactor Limited £Nil (2019 £25,000) are associated companies by way of common directors and shareholders. Universal Exports London (1964) Limited £Nil (2019 £40,000) is associated by way of common directors. Loans are interest free and repayable upon demand. A summary of intergroup loans is as follows;Cindra Buildings Ltd £Nil (2019 £83,500)Emcastle Ltd £Nil (2019 £466,200)Cardo Construction Ltd £Nil (2019 £490,434)Pendine Builders Ltd £Nil (2019 £378,134)Tourdell Properties Ltd £Nil (2019 £589,342)Total £Nil (2019 £2,007,610)
6. Related party transactions
The Ultimate Controlling Parties are the Vaughan Read family, UK residents.
Crescent Holdings Limited is a wholly owned subsidiary of Annunciation Limited. Mr. A. M. Vaughan Read and his
immediate family have a substantial shareholding within Annunciation Limited.
Going Concern
The company is wholly reliant upon support from Group Companies to enable trade to continue.
7. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2)
8. Parent-subsidary relationship
Crescent Holdings Limited is a wholly owned subsidiary of Annunciation Limited, whose registered office is West Walk House, 99 Princess Road East, Leicester, LE1 7LF.
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