IRIS Accounts Production v22.2.0.402 07906895 Board of Directors 1.1.21 31.12.21 31.12.21 2.9.22 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure079068952020-12-31079068952021-12-31079068952021-01-012021-12-31079068952019-12-31079068952020-01-012020-12-31079068952020-12-3107906895ns16:EnglandWales2021-01-012021-12-3107906895ns15:PoundSterling2021-01-012021-12-3107906895ns11:Director12021-01-012021-12-3107906895ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3107906895ns11:SmallEntities2021-01-012021-12-3107906895ns11:Audited2021-01-012021-12-3107906895ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3107906895ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3107906895ns11:FullAccounts2021-01-012021-12-3107906895ns11:Director22021-01-012021-12-3107906895ns11:RegisteredOffice2021-01-012021-12-3107906895ns6:CurrentFinancialInstruments2021-12-3107906895ns6:CurrentFinancialInstruments2020-12-3107906895ns6:Non-currentFinancialInstruments2021-12-3107906895ns6:Non-currentFinancialInstruments2020-12-3107906895ns6:ShareCapital2021-12-3107906895ns6:ShareCapital2020-12-3107906895ns6:RetainedEarningsAccumulatedLosses2021-12-3107906895ns6:RetainedEarningsAccumulatedLosses2020-12-3107906895ns6:PlantMachinery2020-12-3107906895ns6:PlantMachinery2021-01-012021-12-3107906895ns6:PlantMachinery2021-12-3107906895ns6:PlantMachinery2020-12-3107906895ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3107906895ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: 07906895 (England and Wales)















CRESCENT PUBLISHING LIMITED

Financial Statements for the Year Ended 31 December 2021






CRESCENT PUBLISHING LIMITED (REGISTERED NUMBER: 07906895)






Contents of the Financial Statements
for the year ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CRESCENT PUBLISHING LIMITED

Company Information
for the year ended 31 December 2021







DIRECTORS: Mrs T C Thomas
A M Abdul-Rahman





REGISTERED OFFICE: Crescent Court
102 Victor Road
Teddington
Middlesex
TW11 8SS





REGISTERED NUMBER: 07906895 (England and Wales)





AUDITORS: Xeinadin Auditing
Chartered Accountants and Statutory Auditors
Beckett House
36 Old Jewry
London
EC2R 8DD

CRESCENT PUBLISHING LIMITED (REGISTERED NUMBER: 07906895)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,429 29,062

CURRENT ASSETS
Debtors 6 107 3,458
Cash at bank 11,044 5,621
11,151 9,079
CREDITORS
Amounts falling due within one year 7 14,134 13,527
NET CURRENT LIABILITIES (2,983 ) (4,448 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,446

24,614

CREDITORS
Amounts falling due after more than one
year

8

642,861

614,702
NET LIABILITIES (628,415 ) (590,088 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (628,515 ) (590,188 )
SHAREHOLDERS' FUNDS (628,415 ) (590,088 )

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 2 September 2022 and were signed on its behalf by:





Mrs T C Thomas - Director


CRESCENT PUBLISHING LIMITED (REGISTERED NUMBER: 07906895)

Notes to the Financial Statements
for the year ended 31 December 2021

1. STATUTORY INFORMATION

Crescent Publishing 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.

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.

The accounts have been prepared on a going concern basis. The company incurred a net loss of £38,327 for the period ended 31 December 2021, at which date the deficit on the company's profit and loss account amounted to £628,415. The company's ability to continue as a going concern relies on the continued support of the ultimate parent company Al Hilal Publishing and Marketing Group, a company registered in Bahrain.

TURNOVER
Turnover represents commission earned on sales, excluding value added tax where applicable. Commission is recognised once the customer has made payment for their advertisements.

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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

CRESCENT PUBLISHING LIMITED (REGISTERED NUMBER: 07906895)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 92,006
DEPRECIATION
At 1 January 2021 62,944
Charge for year 11,633
At 31 December 2021 74,577
NET BOOK VALUE
At 31 December 2021 17,429
At 31 December 2020 29,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 107 3,458

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other creditors 14,134 13,527

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Amounts owed to group undertakings 642,861 614,702

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hazel Day BSc FCA DChA (Senior Statutory Auditor)
for and on behalf of Xeinadin Auditing

CRESCENT PUBLISHING LIMITED (REGISTERED NUMBER: 07906895)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

10. RELATED PARTY DISCLOSURES

The Company operates from premises owned by Midco Holdings Limited and Anwar Holdings Limited. Mr R Middleton, director of the ultimate parent company has joint control of Midco Holdings Limited and Mr A Mohammed Abdul - Rahman, a director, owns Anwar Holdings Limited.

No rent was charged during the year to 31 December 2021 in relation to this. As at 31st December 2021 the company owed Midco £6,811 (2020: £2,257) which is included within creditors due within one year.

During the year commission was received from Al Hilal Publishing and Marketing Group WLL of £23,730 (2020: £29,874).

As at the 31 December 2021 the amount due to Al Hilal Publishing and Marketing Group WLL was £642,861 (2020 £614,702). This balance is interest free and repayment will not be requested until the financial position of the company permits.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare our financial statements, prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. In addition to this our auditors also prepare our monthly payroll and deal with the relevant monthly and year end submissions.