Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-052023-04-052022-04-06false0falseRental of investment property0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00703627 2022-04-06 2023-04-05 00703627 2021-04-06 2022-04-05 00703627 2023-04-05 00703627 2022-04-05 00703627 2021-04-06 00703627 5 2022-04-06 2023-04-05 00703627 5 2021-04-06 2022-04-05 00703627 d:CompanySecretary1 2022-04-06 2023-04-05 00703627 d:Director2 2022-04-06 2023-04-05 00703627 d:Director3 2022-04-06 2023-04-05 00703627 d:RegisteredOffice 2022-04-06 2023-04-05 00703627 d:Agent1 2022-04-06 2023-04-05 00703627 e:Buildings 2022-04-06 2023-04-05 00703627 e:Buildings 2023-04-05 00703627 e:Buildings 2022-04-05 00703627 e:Buildings e:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 00703627 e:FurnitureFittings 2022-04-06 2023-04-05 00703627 e:OtherPropertyPlantEquipment 2022-04-06 2023-04-05 00703627 e:OtherPropertyPlantEquipment 2023-04-05 00703627 e:OtherPropertyPlantEquipment 2022-04-05 00703627 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 00703627 e:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 00703627 e:CurrentFinancialInstruments 2023-04-05 00703627 e:CurrentFinancialInstruments 2022-04-05 00703627 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-05 00703627 e:CurrentFinancialInstruments e:WithinOneYear 2022-04-05 00703627 e:ShareCapital 2023-04-05 00703627 e:ShareCapital 2022-04-05 00703627 e:ShareCapital 2021-04-06 00703627 e:SharePremium 2023-04-05 00703627 e:SharePremium 2022-04-05 00703627 e:SharePremium 2021-04-06 00703627 e:RevaluationReserve 2022-04-06 2023-04-05 00703627 e:RevaluationReserve 2023-04-05 00703627 e:RevaluationReserve 5 2022-04-06 2023-04-05 00703627 e:RevaluationReserve 2021-04-06 2022-04-05 00703627 e:RevaluationReserve 2022-04-05 00703627 e:RevaluationReserve 2021-04-06 00703627 e:RevaluationReserve 5 2021-04-06 2022-04-05 00703627 e:RetainedEarningsAccumulatedLosses 2022-04-06 2023-04-05 00703627 e:RetainedEarningsAccumulatedLosses 2023-04-05 00703627 e:RetainedEarningsAccumulatedLosses 2021-04-06 2022-04-05 00703627 e:RetainedEarningsAccumulatedLosses 2022-04-05 00703627 e:RetainedEarningsAccumulatedLosses 2021-04-06 00703627 d:FRS102 2022-04-06 2023-04-05 00703627 d:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 00703627 d:FullAccounts 2022-04-06 2023-04-05 00703627 d:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 00703627 e:AcceleratedTaxDepreciationDeferredTax 2023-04-05 00703627 e:AcceleratedTaxDepreciationDeferredTax 2022-04-05 00703627 e:TaxLossesCarry-forwardsDeferredTax 2023-04-05 00703627 e:TaxLossesCarry-forwardsDeferredTax 2022-04-05 iso4217:GBP xbrli:pure

Registered number: 00703627









THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2023

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 
 
COMPANY INFORMATION


Directors
Mr C Straw 
Mr C W Hatton 




Company secretary
Mr C W Hatton



Registered number
00703627



Registered office
2 Glebelands Road

Knutsford

WA16 9DZ




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS




Bankers
National Westminster Bank plc
23 Sankey Street

Warrington

WA1 1XG




Solicitors
FDR Law
1-5 Palmyra Square South

Warrington

WA1 1BZ





 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 

CONTENTS



Page
Accountant's report
1
Statement of financial position
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9


  
  img1f6e.png
Report to the directors on the preparation of the unaudited statutory financial statements of The Crane Property & Development Company Limited for the year ended 5 April 2023 

We have compiled the accompanying financial statements of The Crane Property & Development Company Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of The Crane Property & Development Company Limited as at 5 April 2023, the Statement of changes in Equity for the year then ended, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 8 September 2023Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 8 September 2023. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
Chartered Accountants
Liverpool

Date:
Page 1

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
REGISTERED NUMBER:00703627

STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
470,000
420,245

Current assets
  

Debtors: amounts falling due within one year
 5 
31,283
17,061

Cash at bank and in hand
  
225,584
287,504

  
256,867
304,565

Creditors: amounts falling due within one year
 6 
(6,425)
(15,391)

Net current assets
  
 
 
250,442
 
 
289,174

Total assets less current liabilities
  
720,442
709,419

Provisions for liabilities
  

Deferred tax
 7 
(109,927)
(97,488)

  
 
 
(109,927)
 
 
(97,488)

Net assets
  
610,515
611,931


Capital and reserves
  

Called up share capital 
  
3,418
3,418

Share premium account
  
8,743
8,743

Revaluation reserve
  
329,776
292,276

Profit and loss account
  
268,578
307,494

  
610,515
611,931


Page 2

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
REGISTERED NUMBER:00703627
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 2023

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr C W Hatton
Director

Date: 22 November 2023

The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 5 APRIL 2023


Called up share capital
Share premium account
Fair value reserve
Profit and loss account
Total equity

£
£
£
£
£


At 6 April 2021
3,418
8,743
315,658
286,848
614,667


Comprehensive income for the year

Loss for the year
-
-
-
(2,736)
(2,736)

Transfer from fair value reserve
-
-
-
23,382
23,382

Transfer to profit and loss account
-
-
(23,382)
-
(23,382)



At 6 April 2022
3,418
8,743
292,276
307,494
611,931


Comprehensive income for the year

Loss for the year
-
-
-
(1,416)
(1,416)

Transfer from fair value reserve
-
-
-
(37,500)
(37,500)


Contributions by and distributions to owners

Transfer to profit and loss account
-
-
37,500
-
37,500


At 5 April 2023
3,418
8,743
329,776
268,578
610,515


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1.


General information

The company is a private company, limited by shares, registered in England and Wales. 
Registered number: 00703627.
Registered office : 2 Glebelands Road, Knutsford, WA16 9DZ.

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

Turnover

The turnover shown in profit or loss represents rental income and insurance income from investment properties during the year, in accordance with lease terms on a receivable basis, exclusive of Value Added Tax.
Rental income and insurance income is recognised in the period to which it relates.


 
2.3

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 reporting 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 reporting 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 reporting date.

Page 5

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.4

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, using the straight-line method.



Computer equipment
-
20%

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 6

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.


3.


Employees

The Company has no employees other than the directors (2022: £nil), who did not receive any remuneration (2022: £NIL).



Page 7

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

4.


Tangible fixed assets





Investment properties
Computer equipment
Total

£
£
£



Cost or valuation


At 6 April 2022
420,000
1,988
421,988


Revaluations
50,000
-
50,000



At 5 April 2023

470,000
1,988
471,988



Depreciation


At 6 April 2022
-
1,743
1,743


Charge for the year on owned assets
-
245
245



At 5 April 2023

-
1,988
1,988



Net book value



At 5 April 2023
470,000
-
470,000



At 5 April 2022
420,000
245
420,245

All of the company's investment properties are included at fair value based on the directors view, guided by a valuation completed by external chartered surveyors. If the investment properties had not been revalued, they would have been included at a historical cost of £30,297 (2022: £30,297).


5.


Debtors

2023
2022
£
£


Trade debtors
2,999
17,061

Other debtors
28,284
-

31,283
17,061


Page 8

 
THE CRANE PROPERTY & DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
-
3,249

Other creditors
-
784

Accruals and deferred income
6,425
11,358

6,425
15,391



7.


Deferred taxation




2023
2022


£

£






At beginning of year
(97,488)
(74,151)


Charged to profit or loss
(12,439)
(23,337)



At end of year
(109,927)
(97,488)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gains
(109,927)
(97,427)

Fixed asset timing differences
-
(61)

(109,927)
(97,488)


8.


Related party transactions

The balance due from C W Hatton, a director as at 5 April 2023 is £21,404 (2022: £784 due to), which is interest free, unsecured and repayable upon demand.

 
Page 9