CRESCENT_AMENITY_LIMITED - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Crescent Amenity Limited is a private company limited by shares incorporated in England and Wales. The registered office is Westbourne Block Management, 9 Spring Street, London, W2 3RA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover represents amounts receivable during the year in respect of amenity company services.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities, including creditors, bank loans, other loans, deposits and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Equity instruments issued by the company are recorded at the proceeds received.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year, this excludes rent charges as these are exempt from tax. Taxable income is based on other income and interest received gross. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Key deposits

Residents living in houses bordering the communal gardens who contribute to the Garden costs may purchase a key for the gardens at a cost of £60 of which £50 is repayable if the key is returned and subject to certain other conditions. Based on the historic numbers of keys issued and returned, a provision has been set up which is considered adequate to meet this liability.

The administration fee received on key deposits is recognised at the point where the deposit is received.

The average monthly number of persons (including directors) employed by the company during the year was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

During the year the directors of the company were charged for services in relation to the maintenance of the common parts and garden areas within the Crescent Amenity area. These services were inline with the Rentcharge Deed and Transfer and on the same terms as all other tenants and in line with the company's standard activities.