Crestel Projects Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07569004 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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

123,508

84,948

CURRENT ASSETS

Stocks

6

68,050

224,354

Debtors

7

1,975,928

1,199,723

Cash at bank

1,744,110

1,434,161

3,788,088

2,858,238

CREDITORS

Amounts falling due within one year

8

2,004,385

1,321,173

NET CURRENT ASSETS

1,783,703

1,537,065

TOTAL ASSETS LESS CURRENT LIABILITIES

1,907,211

1,622,013

CREDITORS

Amounts falling due after more than one year

9

(252,651

)

(252,124

)

PROVISIONS FOR LIABILITIES

(23,467

)

(16,140

)

NET ASSETS

1,631,093

1,353,749

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,630,993

1,353,649

SHAREHOLDERS' FUNDS

1,631,093

1,353,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 7 December 2022 and were signed on its behalf by:

S Fitzjohn - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 (2021 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

536

105,798

7,084

113,418

Additions

-

59,402

4,384

63,786

At 31 March 2022

536

165,200

11,468

177,204

DEPRECIATION

At 1 April 2021

366

22,443

5,661

28,470

Charge for year

43

24,448

735

25,226

At 31 March 2022

409

46,891

6,396

53,696

NET BOOK VALUE

At 31 March 2022

127

118,309

5,072

123,508

At 31 March 2021

170

83,355

1,423

84,948

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2021

54,812

Additions

59,402

At 31 March 2022

114,214

DEPRECIATION

At 1 April 2021

9,135

Charge for year

15,028

At 31 March 2022

24,163

NET BOOK VALUE

At 31 March 2022

90,051

At 31 March 2021

45,677

6.

STOCKS

31.3.22

31.3.21

£

£

Stocks

2,000

2,000

Work-in-progress

66,050

222,354

68,050

224,354

7.

DEBTORS

31.3.22

31.3.21

£

£

Amounts falling due within one year:

Trade debtors

1,542,711

787,704

Amounts owed by group undertakings

412,217

-

Other debtors

21,000

-

1,975,928

787,704

Amounts falling due after more than one year:

3 Accent Park Ltd

-

412,019

Aggregate amounts

1,975,928

1,199,723

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

18,000

18,000

Hire purchase contracts

30,919

10,782

Trade creditors

882,659

940,141

Tax

74,561

45,867

Social security and other taxes

7,164

14,411

Pension liability

287

266

VAT

380,891

126,935

Other creditors

67,674

59,696

Accruals and deferred income

542,230

105,075

2,004,385

1,321,173

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 1-2 years

18,000

18,000

Bank loans - 2-5 years

54,000

54,000

Bank loans more 5 yr by instal

119,000

137,000

Hire purchase contracts

61,651

43,124

252,651

252,124

31.3.22

31.3.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

119,000

137,000

10.	RELATED PARTY DISCLOSURES

Accent Park Ltd, a company owned by the owners of Crestel Projects Ltd, owed Crestel Projects Ltd £412,217 at the year end (2021: £NIL).

11.	ULTIMATE CONTROLLING PARTY

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