Crema Properties Ltd
Crema Properties Ltd
Registered number: 12025006
Financial Statements
For The Year Ended
31 May 2021
Fairman Harris
1 Landor Road
London
SW9 9RX
Crema Properties Ltd
Financial Statements
For The Year Ended
31 May 2021
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Crema Properties Ltd
Balance Sheet
As at
31 May 2021
Balance Sheet
Registered number:
12025006
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (11,435) | (8,948) | |||
Page 1
Crema Properties Ltd
Balance Sheet (continued)
As at
31 May 2021
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Crema Properties Ltd
Notes to the Financial Statements
For The Year Ended
31 May 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2020: NIL)
Page 3
Crema Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2021
3.
Tangible Assets
| Investment Properties | Fixtures & Fittings | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| Additions | 212,886 |
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| As at
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| Depreciation | |||
| As at
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| Provided during the period | - |
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| As at
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| Net Book Value | |||
| As at
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| As at
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4.
Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Director's loan account |
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5.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Doc Tiles Ltd |
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| Accruals and deferred income |
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| Director's loan account | - |
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Page 4
Crema Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2021
6.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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The above loans has been secured against the property.
8.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: £100.00.
The above loan is unsecured, interest free and repayable on demand.
9.
Related Party Transactions
Doc Tiles Limited
Common Director and Shareholder
Intercompany balance: Credit £467,382.32 (2020 Credit £147,382.32).
10.
Ultimate Controlling Party
The company's ultimate controlling party is
Andrea Creti
by virtue of his ownership of 100% of the issued share capital in the company.
11.
General Information
Crema Properties Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
12025006
. The registered office is Fairman Harris, 1 Landor Road, London, SW9 9RX.
Page 5