Registered number
10274412
CREWSWELL LIMITED
Filleted Abridged Accounts
31 July 2023
CREWSWELL LIMITED
Registered number: 10274412
Abridged Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 293 390
Investments 4 700,000 700,000
700,293 700,390
Current assets
Debtors - 3,933
Cash at bank and in hand 142,519 111,085
142,519 115,018
Creditors: amounts falling due within one year (269,816) (276,383)
Net current liabilities (127,297) (161,365)
Total assets less current liabilities 572,996 539,025
Creditors: amounts falling due after more than one year (249,195) (249,195)
Provisions for liabilities (26,580) (26,580)
Net assets 297,221 263,250
Capital and reserves
Called up share capital 100 100
Profit and loss account 297,121 263,150
Shareholders' funds 297,221 263,250
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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr Sean Doherty
Director
Approved by the board on 19 February 2024
CREWSWELL LIMITED
Notes to the Abridged Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The abridged 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).
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:
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction cost. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Total
£
Cost
At 1 August 2022 1,793
At 31 July 2023 1,793
Depreciation
At 1 August 2022 1,403
Charge for the year 97
At 31 July 2023 1,500
Net book value
At 31 July 2023 293
At 31 July 2022 390
4 Investments
Other
investments
£
Cost
At 1 August 2022 700,000
At 31 July 2023 700,000
Historical cost
At 1 August 2022 560,109
At 31 July 2023 560,109
Other investments are investment properties. The fair value of the property at 31at July 2023 has been arrived at on the basis of a valuation carried out at that date by Mr Cawley, a director of the company who is not a professionally qualified valuer. The valuation was arrived by reference to market evidence of transaction prices for similar properties in its location and takes into account the current state of rental market in the area where the properties are situated.
5 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 266,204 274,104
Bank loan are secures on the investment properties.
6 Other information
CREWSWELL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
18 The Broadway
East Lane
Wembley
Middlesex
HA9 8JU
CREWSWELL LIMITED 10274412 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 Mr Sean Doherty No description of principal activity 10274412 2021-08-01 2022-07-31 10274412 core:WithinOneYear 2022-07-31 10274412 core:AfterOneYear 2022-07-31 10274412 core:ShareCapital 2022-07-31 10274412 core:RetainedEarningsAccumulatedLosses 2022-07-31 10274412 2022-08-01 2023-07-31 10274412 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10274412 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10274412 bus:Director40 2022-08-01 2023-07-31 10274412 1 2022-08-01 2023-07-31 10274412 2 2022-08-01 2023-07-31 10274412 countries:England 2022-08-01 2023-07-31 10274412 bus:FRS102 2022-08-01 2023-07-31 10274412 bus:AbridgedAccounts 2022-08-01 2023-07-31 10274412 2023-07-31 10274412 core:WithinOneYear 2023-07-31 10274412 core:AfterOneYear 2023-07-31 10274412 core:ShareCapital 2023-07-31 10274412 core:RetainedEarningsAccumulatedLosses 2023-07-31 10274412 2022-07-31 iso4217:GBP xbrli:pure