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Registration number: 01772131

Crestdandy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Crestdandy Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Crestdandy Limited

Company Information

Directors

Mr LM Evans-Thomas

Mrs R C Evans Thomas

Company secretary

Mrs R C Evans Thomas

Registered office

Derby Farm
Haverfordwest
SA62 4ES

Accountants

LHP Haverfordwest
Chartered Certified Accountants
1st Floor Agricultural House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Crestdandy Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Crestdandy Limited for the year ended 31 December 2021 as set out on pages 3 to 7 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 (ACCA), we are subject to its ethical and other professional requirements which are disclosed and available at the following website https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

This report is made solely to the Board of Directors of Crestdandy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Crestdandy Limited and state those matters that we have agreed to state to the Board of Directors of Crestdandy Limited, as a body, in this report in accordance with the requirements of the ACCA as detailed at the following website http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crestdandy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Crestdandy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Crestdandy Limited. You consider that Crestdandy 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 accounts of Crestdandy 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 accounts.

......................................

LHP Haverfordwest
Chartered Certified Accountants
1st Floor Agricultural House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

31 August 2022

 

Crestdandy Limited

(Registration number: 01772131)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

168,679

172,121

Current assets

 

Cash at bank and in hand

 

17,824

21,712

Creditors: Amounts falling due within one year

5

(109,832)

(114,107)

Net current liabilities

 

(92,008)

(92,395)

Net assets

 

76,671

79,726

Capital and reserves

 

Called up share capital

200

200

Revaluation reserve

67,704

67,704

Retained earnings

8,767

11,822

Shareholders' funds

 

76,671

79,726

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 

.........................................
Mrs R C Evans Thomas
Company secretary and director

   
     
 

Crestdandy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Derby Farm
Haverfordwest
SA62 4ES

These financial statements were authorised for issue by the Board on 31 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Crestdandy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

 

Crestdandy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2021

254,312

254,312

At 31 December 2021

254,312

254,312

Depreciation

At 1 January 2021

82,191

82,191

Charge for the year

3,442

3,442

At 31 December 2021

85,633

85,633

Carrying amount

At 31 December 2021

168,679

168,679

At 31 December 2020

172,121

172,121

Included within the net book value of land and buildings above is £168,679 (2020 - £172,121) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Taxation and social security

 

76

-

Other related parties

 

101,081

103,843

Other creditors

 

8,675

10,264

 

109,832

114,107

6

Related party transactions

 

Crestdandy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Transactions with directors

2021

At 1 January 2021
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2021
£

Mr A T Evans Thomas

Interest free loan with no fixed repayment terms

(60,399)

-

-

60,399

-

           
         

Mr LM Evans-Thomas

Interest free loan with no fixed repayment term

(43,444)

-

(2)

-

(43,446)

           
         

Mrs R C Evans Thomas

Interest free loan with no fixed repayment term

-

2,764

(60,399)

-

(57,634)

           
         

 

2020

At 1 January 2020
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2020
£

Mr A T Evans Thomas

Interest free loan with no fixed repayment terms

(64,296)

4,535

(638)

-

(60,399)

           
         

Mr LM Evans-Thomas

Interest free loan with no fixed repayment term

-

219

-

(43,663)

(43,444)