Crowfield Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05043295 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 November 2021

for

Crowfield Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms N Lane

E Langley

REGISTERED OFFICE:

C/o Michael Omiros Ltd

48 Warwick Street

London

W1B 5AW

REGISTERED NUMBER:

05043295 (England and Wales)

FIXED ASSETS

Investment property

4

1,650,000

1,650,000

CURRENT ASSETS

Debtors

5

730,608

700,851

Cash at bank

4,267

888

734,875

701,739

CREDITORS

Amounts falling due within one year

6

328,295

331,416

NET CURRENT ASSETS

406,580

370,323

TOTAL ASSETS LESS CURRENT LIABILITIES

2,056,580

2,020,323

CREDITORS

Amounts falling due after more than one year

7

(1,203,312

)

(1,203,312

)

PROVISIONS FOR LIABILITIES

9

(29,735

)

(29,735

)

NET ASSETS

823,533

787,276

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

541,887

541,887

Retained earnings

281,546

245,289

823,533

787,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 2021 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 28 November 2022 and were signed on its behalf by:

Ms N Lane - Director

1.	STATUTORY INFORMATION

Crowfield Properties Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

The 2021 valuations were made by the directors, on an open market value for existing use basis.

The historical cost of the property is £1,650,000 (2020: £1,650,000).

Fair value at 28 November 2021 is represented by:

£

Valuation in 2018

1,650,000

Valuation in 2019

186,483

Valuation in 2020

(186,483

)

1,650,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.11.21

28.11.20

£

£

Amounts owed by group undertakings

709,358

679,601

Other debtors

21,250

21,250

730,608

700,851

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.11.21

28.11.20

£

£

Amounts owed to group undertakings

94,568

90,133

Other creditors

233,727

241,283

328,295

331,416

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.11.21

28.11.20

£

£

Bank loans (see note 8)

1,203,312

1,203,312

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,203,312

1,203,312

8.

LOANS

The bank loan is secured by a charge over the freehold property.

9.	PROVISIONS FOR LIABILITIES

28.11.21

28.11.20

£

£

Deferred tax

29,735

29,735

Deferred

tax

£

Balance at 29 November 2020

29,735

Balance at 28 November 2021

29,735

10.

RESERVES

Other reserves are non-distributable and relate to the unrealised gain on the revaluation of the investment property less the deferred tax arising thereon.