Caseware UK (AP4) 2021.0.152 2021.0.152 42021-01-01false6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 2920187 2021-01-01 2021-12-31 2920187 2020-01-01 2020-12-31 2920187 2021-12-31 2920187 2020-12-31 2920187 2020-01-01 2920187 1 2021-01-01 2021-12-31 2920187 7 2021-01-01 2021-12-31 2920187 7 2020-01-01 2020-12-31 2920187 d:Director1 2021-01-01 2021-12-31 2920187 e:Buildings 2021-01-01 2021-12-31 2920187 e:Buildings 2021-12-31 2920187 e:Buildings 2020-12-31 2920187 e:Buildings e:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 2920187 e:Buildings e:ShortLeaseholdAssets 2021-01-01 2021-12-31 2920187 e:Buildings e:ShortLeaseholdAssets 2021-12-31 2920187 e:Buildings e:ShortLeaseholdAssets 2020-12-31 2920187 e:PlantMachinery 2021-01-01 2021-12-31 2920187 e:PlantMachinery 2021-12-31 2920187 e:PlantMachinery 2020-12-31 2920187 e:PlantMachinery e:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 2920187 e:FurnitureFittings 2021-01-01 2021-12-31 2920187 e:FurnitureFittings 2021-12-31 2920187 e:FurnitureFittings 2020-12-31 2920187 e:FurnitureFittings e:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 2920187 e:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 2920187 e:OtherPropertyPlantEquipment 2021-12-31 2920187 e:OtherPropertyPlantEquipment 2020-12-31 2920187 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 2920187 e:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 2920187 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 2920187 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-12-31 2920187 e:FreeholdInvestmentProperty 2021-01-01 2021-12-31 2920187 e:FreeholdInvestmentProperty 2021-12-31 2920187 e:FreeholdInvestmentProperty 2020-12-31 2920187 e:FreeholdInvestmentProperty 2 2021-01-01 2021-12-31 2920187 e:CurrentFinancialInstruments 2021-12-31 2920187 e:CurrentFinancialInstruments 2020-12-31 2920187 e:CurrentFinancialInstruments e:WithinOneYear 2021-12-31 2920187 e:CurrentFinancialInstruments e:WithinOneYear 2020-12-31 2920187 e:ShareCapital 2021-12-31 2920187 e:ShareCapital 2020-12-31 2920187 e:ShareCapital 2020-01-01 2920187 e:SharePremium 2021-12-31 2920187 e:SharePremium 1 2021-01-01 2021-12-31 2920187 e:SharePremium 2020-12-31 2920187 e:SharePremium 2020-01-01 2920187 e:InvestmentPropertiesRevaluationReserve 2021-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 1 2021-01-01 2021-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2020-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2020-01-01 2920187 e:OtherMiscellaneousReserve 2021-01-01 2021-12-31 2920187 e:OtherMiscellaneousReserve 2021-12-31 2920187 e:OtherMiscellaneousReserve 1 2021-01-01 2021-12-31 2920187 e:OtherMiscellaneousReserve 2020-01-01 2020-12-31 2920187 e:OtherMiscellaneousReserve 2020-12-31 2920187 e:OtherMiscellaneousReserve 2020-01-01 2920187 e:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2021-12-31 2920187 e:RetainedEarningsAccumulatedLosses 1 2021-01-01 2021-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2020-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2020-01-01 2920187 e:RetirementBenefitObligationsDeferredTax 2021-12-31 2920187 e:RetirementBenefitObligationsDeferredTax 2020-12-31 2920187 e:OtherDeferredTax 2021-12-31 2920187 e:OtherDeferredTax 2020-12-31 2920187 d:FRS102 2021-01-01 2021-12-31 2920187 d:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 2920187 d:FullAccounts 2021-01-01 2021-12-31 2920187 d:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 2920187 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure
Registered number: 2920187





 
Crestwood Holdings Limited          
 
Financial statements          

For the year ended 31 December 2021          

 
Crestwood Holdings Limited
Registered number:2920187

Balance sheet
As at 31 December 2021


2021

2020 
                                                                                   Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
13,152
15,669

Investments
 6 
1,872,549
1,761,388

Investment property
 7 
2,357,500
1,761,351

  
4,243,201
3,538,408

Current assets
  

Debtors
 8 
485,279
1,094,381

Cash at bank and in hand
  
839,409
817,712

  
1,324,688
1,912,093

Creditors: amounts falling due within one year
 9 
(1,193,958)
(1,252,744)

Net current assets
  
 
 
130,730
 
 
659,349

Provisions for liabilities
  

Deferred tax
 10 
(143,658)
(7,994)

Net assets
  
4,230,273
4,189,763


Capital and reserves
  

Called up share capital 
  
2,147,333
2,147,333

Share premium account
  
57,180
57,180

Investment property reserve
  
224,515
-

Listed investments revaluation reserve
  
206,457
34,078

Profit and loss account
  
1,594,788
1,951,172

  
4,230,273
4,189,763


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.



 
Page 1

 
Crestwood Holdings Limited
Registered number:2920187
    
Balance sheet (continued)
As at 31 December 2021

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 23 August 2022.




M Bust
Director
























The notes on pages 4 to 12 form part of these financial statements.
Page 2

 
Crestwood Holdings Limited
 

Statement of changes in equity
For the year ended 31 December 2021


Called up share capital
Share premium account
Investment property revaluation reserve
Listed investments revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£
£


At 1 January 2020
2,147,333
57,180
-
-
2,153,928
4,358,441



Loss for the year
-
-
-
-
(168,678)
(168,678)

Fair value adjustments
-
-
-
-
(34,078)
(34,078)

Transfer to/from profit and loss account
-
-
-
34,078
-
34,078



At 1 January 2021
2,147,333
57,180
-
34,078
1,951,172
4,189,763



Profit for the year
-
-
-
-
40,510
40,510

Fair value adjustments
-
-
-
-
(396,894)
(396,894)

Transfer to/from profit and loss account
-
-
224,515
-
-
224,515

Transfer to/from profit and loss account
-
-
-
172,379
-
172,379


At 31 December 2021
2,147,333
57,180
224,515
206,457
1,594,788
4,230,273















The notes on pages 4 to 12 form part of these financial statements.
Page 3

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

1.


General information

Crestwood Holdings Limited is a private company limited by shares, incorporated in England and Wales. Its
registered office is Crestwood House, Saint Martins, Stamford, Lincolnshire, PE9 2LG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a reducing balance basis or straight line basis.

Depreciation is provided on the following basis:

Leasehold land and buildings
-
5% Straight line
Plant and equipment
-
25% Reducing balance
Fixtures and fittings
-
15% Reducing balance
Computer equipment
-
50% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 6).

Page 7

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

4.


Intangible assets




Development costs

£



Cost


At 1 January 2021
202,177



At 31 December 2021

202,177



Amortisation


At 1 January 2021
202,177



At 31 December 2021

202,177



Net book value



At 31 December 2021
-



At 31 December 2020
-



Page 8

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

5.


Tangible fixed assets





Land and buildings
Plant and equipment
Furniture and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
12,984
59,486
87,043
628
160,141


Additions
-
-
-
1,198
1,198



At 31 December 2021

12,984
59,486
87,043
1,826
161,339



Depreciation


At 1 January 2021
12,512
55,841
75,491
628
144,472


Charge for the year
472
911
1,733
599
3,715



At 31 December 2021

12,984
56,752
77,224
1,227
148,187



Net book value



At 31 December 2021
-
2,734
9,819
599
13,152



At 31 December 2020
472
3,644
11,553
-
15,669




The net book value of land and buildings may be further analysed as follows:


2021
2020
£
£

Short leasehold
-
472


Page 9

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

6.


Fixed asset investments





Investments in subsidiary companies
Investments
Listed investments
Other fixed asset investments
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
963,215
1,000
797,173
-
1,761,388


Additions
-
-
886,346
100,000
986,346


Disposals
-
-
(144,559)
-
(144,559)


Revaluations
-
-
190,569
41,020
231,589


Amounts written off
(962,215)
-
-
-
(962,215)



At 31 December 2021
1,000
1,000
1,729,529
141,020
1,872,549





7.


Investment property


Freehold investment property

£



Valuation


At 1 January 2021
1,761,351


Additions at cost
320,538


Surplus on revaluation
275,611



At 31 December 2021
2,357,500

The 2021 valuations were made by the directors, having regard to professional advice taken personally. 



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2021
2020
£
£


Historic cost
2,074,911
1,761,351

Page 10

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

8.


Debtors

2021
2020
£
£


Trade debtors
395,362
157,592

Other debtors
67,721
100,655

Prepayments and accrued income
22,196
836,134

485,279
1,094,381



9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank overdrafts
5,375
-

Trade creditors
22,396
47,507

Amounts owed to group undertakings
414,294
1,001,922

Other taxation and social security
5,614
38,371

Other creditors
715,092
93,049

Accruals and deferred income
31,187
71,895

1,193,958
1,252,744


Page 11

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2021

10.


Deferred taxation




2021


£






At beginning of year
7,994


Charge for the year
135,664



At end of year
143,658

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Revaluation of investment properties
74,838
-

Revaluation of listed investments
68,819
7,994

143,657
7,994


11.


Pension commitments

The company operates a defined pension contribution scheme for the benefit of its employees and directors. The
assets of the scheme are administered by trustees in a fund independent from the company. The total contributions
paid in the year amounted to £1,055 
(2020 - £27,140).


12.


Related party transactions

During the year, the company charged rent totalling £4,800 (2020 - £4,800) to a related party. 
During the year £174,620 
(2020 - £576,227) was charged to related parties in relation to management charges. 
At the balance sheet date, the company owed £414,294 (
2020 £1,001,922) to its subsidiary company. No interest was charged on this loan.

 
Page 12