Caseware UK (AP4) 2022.0.179 2022.0.179 2022-01-014falseproperty management4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 2920187 2022-01-01 2022-12-31 2920187 2021-01-01 2021-12-31 2920187 2022-12-31 2920187 2021-12-31 2920187 2021-01-01 2920187 1 2021-01-01 2021-12-31 2920187 7 2022-01-01 2022-12-31 2920187 7 2021-01-01 2021-12-31 2920187 d:Director3 2022-01-01 2022-12-31 2920187 e:Buildings 2022-12-31 2920187 e:Buildings 2021-12-31 2920187 e:Buildings e:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 2920187 e:Buildings e:ShortLeaseholdAssets 2022-01-01 2022-12-31 2920187 e:PlantMachinery 2022-01-01 2022-12-31 2920187 e:PlantMachinery 2022-12-31 2920187 e:PlantMachinery 2021-12-31 2920187 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 2920187 e:FurnitureFittings 2022-01-01 2022-12-31 2920187 e:FurnitureFittings 2022-12-31 2920187 e:FurnitureFittings 2021-12-31 2920187 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 2920187 e:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 2920187 e:OtherPropertyPlantEquipment 2022-12-31 2920187 e:OtherPropertyPlantEquipment 2021-12-31 2920187 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 2920187 e:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 2920187 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 2920187 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 2920187 e:FreeholdInvestmentProperty 2022-12-31 2920187 e:FreeholdInvestmentProperty 2021-12-31 2920187 e:CurrentFinancialInstruments 2022-12-31 2920187 e:CurrentFinancialInstruments 2021-12-31 2920187 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 2920187 e:CurrentFinancialInstruments e:WithinOneYear 2021-12-31 2920187 e:ShareCapital 2022-12-31 2920187 e:ShareCapital 2021-12-31 2920187 e:ShareCapital 2021-01-01 2920187 e:SharePremium 2022-12-31 2920187 e:SharePremium 2021-12-31 2920187 e:SharePremium 2021-01-01 2920187 e:SharePremium 1 2021-01-01 2021-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2022-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2021-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2021-01-01 2920187 e:InvestmentPropertiesRevaluationReserve 1 2021-01-01 2021-12-31 2920187 e:OtherMiscellaneousReserve 2022-01-01 2022-12-31 2920187 e:OtherMiscellaneousReserve 2022-12-31 2920187 e:OtherMiscellaneousReserve 2021-01-01 2021-12-31 2920187 e:OtherMiscellaneousReserve 2021-12-31 2920187 e:OtherMiscellaneousReserve 2021-01-01 2920187 e:OtherMiscellaneousReserve 1 2021-01-01 2021-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2022-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2021-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2021-01-01 2920187 e:RetainedEarningsAccumulatedLosses 1 2021-01-01 2021-12-31 2920187 e:RetirementBenefitObligationsDeferredTax 2022-12-31 2920187 e:RetirementBenefitObligationsDeferredTax 2021-12-31 2920187 e:OtherDeferredTax 2022-12-31 2920187 e:OtherDeferredTax 2021-12-31 2920187 d:FRS102 2022-01-01 2022-12-31 2920187 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 2920187 d:FullAccounts 2022-01-01 2022-12-31 2920187 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 2920187 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure
Registered number: 2920187





 
Crestwood Holdings Limited          
 
Financial statements          

For the year ended 31 December 2022          

 
Crestwood Holdings Limited
Registered number:2920187

Balance sheet
As at 31 December 2022


2022

2021 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
10,696
13,152

Investments
 6 
1,868,713
1,872,549

Investment property
 7 
2,357,500
2,357,500

  
4,236,909
4,243,201

Current assets
  

Debtors
 8 
444,480
485,280

Cash at bank and in hand
  
526,643
839,409

  
971,123
1,324,689

Creditors: amounts falling due within one year
 9 
(1,097,107)
(1,193,959)

Net current (liabilities)/assets
  
 
 
(125,984)
 
 
130,730

Total assets less current liabilities
  
4,110,925
4,373,931

Provisions for liabilities
  

Deferred tax
 10 
(89,322)
(143,658)

Net assets
  
4,021,603
4,230,273


Capital and reserves
  

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

Share premium account
  
57,180
57,180

Investment property revaluation reserve
  
224,515
224,515

Other reserves
  
43,454
206,457

Profit and loss account
  
1,549,121
1,594,788

  
4,021,603
4,230,273


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 2022


The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 29 September 2023.




J Bust
Director























The notes on pages 4 to 13 form part of these financial statements. 
Page 2

 
Crestwood Holdings Limited
 

Statement of changes in equity
For the year ended 31 December 2022


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

£
£
£
£
£
£


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 from profit and loss account
-
-
224,515
-
-
224,515

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



At 1 January 2022
2,147,333
57,180
224,515
206,457
1,594,788
4,230,273



Loss for the year
-
-
-
-
(208,670)
(208,670)

Fair value adjustments
-
-
-
-
163,003
163,003

Transfer to/from profit and loss account
-
-
-
(163,003)
-
(163,003)


At 31 December 2022
2,147,333
57,180
224,515
43,454
1,549,121
4,021,603















The notes on pages 4 to 13 form part of these financial statements.
Page 3

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

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 2022

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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.

Page 5

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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 at the following rates:

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.

 
2.10

Investment property

Investment property is carried at fair value determined annually by the directors and is 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 the profit and loss account.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less 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.

Page 6

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
 

Impairment of financial assets

Page 7

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.16
Financial instruments (continued)

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 -4).

Page 8

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

4.


Intangible assets




Development costs

£



Cost


At 1 January 2022
202,177



At 31 December 2022

202,177



Amortisation


At 1 January 2022
202,177



At 31 December 2022

202,177



Net book value



At 31 December 2022
-



At 31 December 2021
-



Page 9

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

5.


Tangible fixed assets





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

£
£
£
£
£



Cost or valuation


At 1 January 2022
12,984
59,486
87,043
1,826
161,339



At 31 December 2022

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



Depreciation


At 1 January 2022
12,984
56,752
77,224
1,227
148,187


Charge for the year
-
683
1,473
300
2,456



At 31 December 2022

12,984
57,435
78,697
1,527
150,643



Net book value



At 31 December 2022
-
2,051
8,346
299
10,696



At 31 December 2021
-
2,733
9,820
599
13,152


6.


Fixed asset investments





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

£
£
£
£
£



Cost or valuation


At 1 January 2022
1,000
1,000
1,729,529
141,020
1,872,549


Additions
-
-
405,517
25,000
430,517


Disposals
-
-
(215,892)
-
(215,892)


Revaluations
-
-
(122,691)
(95,770)
(218,461)



At 31 December 2022
1,000
1,000
1,796,463
70,250
1,868,713




Page 10

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

7.


Investment property


Freehold investment property

£



Valuation


At 1 January 2022
2,357,500



At 31 December 2022
2,357,500

The 2022 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:

2022
2021
£
£


Historic cost
2,074,911
2,074,911


8.


Debtors

2022
2021
£
£


Trade debtors
387,386
395,362

Other debtors
40,576
67,722

Prepayments and accrued income
16,518
22,196

444,480
485,280


Page 11

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
-
5,375

Trade creditors
14,731
22,396

Amounts owed to group undertakings
435,488
414,294

Other taxation and social security
5,995
5,614

Other creditors
615,108
715,093

Accruals and deferred income
25,785
31,187

1,097,107
1,193,959



10.


Deferred taxation




2022


£






At beginning of year
143,657


Released during the year
(54,335)



At end of year
89,322

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Revaluation of investment properties
74,838
74,838

Revaluation of listed investments
14,485
68,819

89,323
143,657


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 £Nil 
(2021 - £1,055).

Page 12

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

12.


Related party transactions

During the year, the company charged rent totalling £4,800 (2021 - £4,800) to a related party. 
During the year £3,996 
(2021 - £174,620) was charged to related parties in relation to management charges. 
At the balance sheet date, the company owed £435,488 (
2021 £414,294) to its subsidiary company. No interest was charged on this loan.

 
Page 13