Cresent Properties (UK) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06264869 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

CRESENT PROPERTIES (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTOR:

J P Jones

REGISTERED OFFICE:

C/O Vinings Limited

Grafton House

Bullshead Yard

Alcester

Warwickshire

B49 5BX

REGISTERED NUMBER:

06264869 (England and Wales)

ACCOUNTANTS:

Vinings Limited

Chartered Certified Accountants

Grafton House

Bulls Head Yard

Alcester

Warwickshire

B49 5BX

FIXED ASSETS

Tangible assets

4

187

249

Investment property

5

1,357,500

1,135,000

1,357,687

1,135,249

CURRENT ASSETS

Debtors

6

2,042

2,116

Cash at bank

4,941

6,182

6,983

8,298

CREDITORS

Amounts falling due within one year

7

149,799

151,094

NET CURRENT LIABILITIES

(142,816

)

(142,796

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,214,871

992,453

CREDITORS

Amounts falling due after more than one year

8

(398,296

)

(388,155

)

PROVISIONS FOR LIABILITIES

(129,857

)

(87,582

)

NET ASSETS

686,718

516,716

CAPITAL AND RESERVES

Called up share capital

9

2

2

Fair value reserve

10

592,646

412,421

Retained earnings

10

94,070

104,293

SHAREHOLDERS' FUNDS

686,718

516,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 5th March 2024 and were signed by:

R I Jones - Director

1.	STATUTORY INFORMATION

Cresent Properties (UK) 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.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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 NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st June 2022

and 31st May 2023

1,435

2,515

3,950

DEPRECIATION

At 1st June 2022

1,186

2,515

3,701

Charge for year

62

-

62

At 31st May 2023

1,248

2,515

3,763

NET BOOK VALUE

At 31st May 2023

187

-

187

At 31st May 2022

249

-

249

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2022

1,135,000

Revaluations

222,500

At 31st May 2023

1,357,500

NET BOOK VALUE

At 31st May 2023

1,357,500

At 31st May 2022

1,135,000

Fair value at 31st May 2023 is represented by:

£

Valuation in 2014

71,178

Valuation in 2015

83,756

Valuation in 2016

(10,000

)

Valuation in 2018

114,000

Valuation in 2019

45,000

Valuation in 2020

220,000

Valuation in 2021

(62,976

)

Valuation in 2023

222,500

Cost

674,042

1,357,500

The directors have reviewed the fair value of the assets as at 31st May 2021 and consider the valuations to be unchanged. The directors do not consider the cost benefit of a formal valuation to be of material benefit to the company.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

1,390

1,488

Other debtors

652

628

2,042

2,116

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade creditors

198

1,806

Taxation and social security

-

9,083

Other creditors

149,601

140,205

149,799

151,094

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.23

31.5.22

£

£

Other creditors

398,296

388,155

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.23

31.5.22

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st June 2022

104,293

412,421

516,714

Deficit for the year

(52,498

)

(52,498

)

Revaluation in year

42,275

180,225

222,500

At 31st May 2023

94,070

592,646

686,716

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cresent Properties (UK) Limited for the year ended 31st May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Cresent Properties (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cresent Properties (UK) Limited and state those matters that we have agreed to state to the director of Cresent Properties (UK) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Cresent Properties (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cresent Properties (UK) Limited. You consider that Cresent Properties (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cresent Properties (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Vinings Limited

Chartered Certified Accountants

Grafton House

Bulls Head Yard

Alcester

Warwickshire

B49 5BX

Date: .............................................