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REGISTERED NUMBER: 01196008 (England and Wales)











IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023






IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

ABRIDGED BALANCE SHEET
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,316 7,435
Investment property 5 7,796,277 7,685,788
7,802,593 7,693,223

CURRENT ASSETS
Debtors 677,512 678,946
Cash at bank 28,634 13,424
706,146 692,370
CREDITORS
Amounts falling due within one year 382,438 313,777
NET CURRENT ASSETS 323,708 378,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,126,301

8,071,816

CREDITORS
Amounts falling due after more than one year 6 (1,846,323 ) (1,924,762 )

PROVISIONS FOR LIABILITIES (1,579 ) (1,859 )

ACCRUALS AND DEFERRED INCOME (86,799 ) (86,589 )
NET ASSETS 6,191,600 6,058,606

CAPITAL AND RESERVES
Called up share capital 8 5,000 5,000
Revaluation reserve 9 2,190,500 2,142,930
Retained earnings 3,996,100 3,910,676
SHAREHOLDERS' FUNDS 6,191,600 6,058,606

IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

ABRIDGED BALANCE SHEET - continued
5 APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 5 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





N I Crowson - Director


IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023


1. STATUTORY INFORMATION

Ivor Crowson Developments (Stamford) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01196008

Registered office: Manor Stone House
Station Road
Barnack
Stamford
Lincolnshire
PE9 3DW

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.

Turnover
Turnover represents amounts (excluding value added tax) derived from the rent of commercial properties and the provision of related services in relation to these during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.


IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


2. ACCOUNTING POLICIES - continued
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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 6 April 2022
and 5 April 2023 44,309
DEPRECIATION
At 6 April 2022 36,874
Charge for year 1,119
At 5 April 2023 37,993
NET BOOK VALUE
At 5 April 2023 6,316
At 5 April 2022 7,435

IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2022 7,685,788
Additions 257,089
Revaluations 47,571
Impairments (194,171 )
At 5 April 2023 7,796,277
NET BOOK VALUE
At 5 April 2023 7,796,277
At 5 April 2022 7,685,788

Fair value at 5 April 2023 is represented by:
£   
Valuation in 2021 1,712,659
Valuation in 2022 (236,375 )
Valuation in 2023 (146,600 )
Cost 6,466,593
7,796,277

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 6,466,593 6,209,504

Investment properties were valued on an open market basis on 5 April 2023 by J Fowler MRICS of the Culshaw Partnership .

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more than 5 years 771,316 974,506

IVOR CROWSON DEVELOPMENTS (STAMFORD)
LIMITED (REGISTERED NUMBER: 01196008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,949,715 2,160,626

Security for the bank overdraft and loan are provided by a first legal charge over certain investment properties owned by the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1.00 5,000 5,000

9. RESERVES
Revaluatio
reserve
£   
At 6 April 2022 2,142,930
Revaluations in year 47,570

At 5 April 2023 2,190,500

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 5 April 2023 and 5 April 2022:

2023 2022
£    £   
Mrs M R Crowson
Balance outstanding at start of year - 85,125
Amounts repaid - (85,125 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -