Registered number
01813846
Crewpace Limited
Filleted Accounts
31 March 2023
Crewpace Limited
Registered number: 01813846
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 200,000 200,000
Current assets
Cash at bank and in hand 19,107 19,203
Creditors: amounts falling due within one year 4 (169,589) (169,589)
Net current liabilities (150,482) (150,386)
Total assets less current liabilities 49,518 49,614
Provisions for liabilities (23,915) (23,915)
Net assets 25,603 25,699
Capital and reserves
Called up share capital 2 2
Profit and loss account 25,601 25,697
Shareholders' funds 25,603 25,699
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Macaire
Director
Approved by the board on 31 December 2023
Crewpace Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The accounts have been prepared on the going concern basis, as the shareholders have confirmed that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company
including director 1 1
3 Investments
Other
investments
£
Fair value
At 1 April 2022 200,000
At 31 March 2023 200,000
Historical cost
At 1 April 2022 74,129
At 31 March 2023 74,129
The director has reclassified the property held by the company as investment property, having previously been disclosed within tangible assets. This change is to bring clarity to disclosure and has not changed the accounting treatment of the property held by the company.
Deferred taxation has been provided for on the revaluation surplus at 25% as this was the legislated rate as at the year end.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 169,589 169,589
5 Other information
Crewpace Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kempston
Mill Hill
Edenbridge
Kent
TN8 5DQ
Crewpace Limited 01813846 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 D Macaire No description of principal activity 01813846 2021-04-01 2022-03-31 01813846 core:WithinOneYear 2022-03-31 01813846 core:ShareCapital 2022-03-31 01813846 core:RetainedEarningsAccumulatedLosses 2022-03-31 01813846 2022-04-01 2023-03-31 01813846 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01813846 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01813846 bus:Director40 2022-04-01 2023-03-31 01813846 1 2022-04-01 2023-03-31 01813846 2 2022-04-01 2023-03-31 01813846 countries:England 2022-04-01 2023-03-31 01813846 bus:FRS102 2022-04-01 2023-03-31 01813846 bus:FullAccounts 2022-04-01 2023-03-31 01813846 2023-03-31 01813846 core:WithinOneYear 2023-03-31 01813846 core:ShareCapital 2023-03-31 01813846 core:RetainedEarningsAccumulatedLosses 2023-03-31 01813846 2022-03-31 iso4217:GBP xbrli:pure