CREVENAGH PROPERTIES LIMITED

CREVENAGH PROPERTIES LIMITED

CREVENAGH PROPERTIES LIMITED - Company Information

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CREVENAGH PROPERTIES LIMITED

Company Registration Number:
NI642839 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 October 2021

Period of accounts

Start date: 31 October 2020

End date: 30 October 2021

CREVENAGH PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 October 2021

Balance sheet
Notes

CREVENAGH PROPERTIES LIMITED

Balance sheet

As at 30 October 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 3,880 5,820
Total fixed assets: 3,880 5,820
Current assets
Stocks: 2,400,389 3,446,482
Debtors:   34,427 39,615
Cash at bank and in hand: 95,598 52,002
Total current assets: 2,530,414 3,538,099
Creditors: amounts falling due within one year:   (1,826,528) (3,364,572)
Net current assets (liabilities): 703,886 173,527
Total assets less current liabilities: 707,766 179,347
Total net assets (liabilities): 707,766 179,347
Capital and reserves
Called up share capital: 3 3
Profit and loss account: 707,763 179,344
Shareholders funds: 707,766 179,347

The notes form part of these financial statements

CREVENAGH PROPERTIES LIMITED

Balance sheet statements

For the year ending 30 October 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 July 2022
and signed on behalf of the board by:

Name: Mr Mark Cuskeran
Status: Director

The notes form part of these financial statements

CREVENAGH PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:Plant and equipment - 20% per annumThe carrying value of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Other accounting policies

StocksStocks are stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion or disposal. Provision is made for obsolete, slow-moving or defective items where appropriate.TaxationCurrent tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the Company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of the timing difference. In other cases, the measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

CREVENAGH PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

2. Employees

2021 2020
Average number of employees during the period 3 3

CREVENAGH PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

3. Tangible Assets

Total
Cost £
At 31 October 2020 9,700
At 30 October 2021 9,700
Depreciation
At 31 October 2020 3,880
Charge for year 1,940
At 30 October 2021 5,820
Net book value
At 30 October 2021 3,880
At 30 October 2020 5,820