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REGISTERED NUMBER: 10001301 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 FEBRUARY 2023

FOR

CREST VENTURES LIMITED

CREST VENTURES LIMITED (REGISTERED NUMBER: 10001301)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CREST VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 27 FEBRUARY 2023







DIRECTOR: J Fried





REGISTERED OFFICE: 115 Craven Park Road
London
N15 6BL





REGISTERED NUMBER: 10001301 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

CREST VENTURES LIMITED (REGISTERED NUMBER: 10001301)

STATEMENT OF FINANCIAL POSITION
27 FEBRUARY 2023

27.2.23 27.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,887 10,925

CURRENT ASSETS
Debtors 5 428,405 535,390
Investments 6 300,609 300,609
Cash at bank 719 856
729,733 836,855
CREDITORS
Amounts falling due within one year 7 (3,144,047 ) (3,022,533 )
NET CURRENT LIABILITIES (2,414,314 ) (2,185,678 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,405,427

)

(2,174,753

)

CREDITORS
Amounts falling due after more than one
year

8

(43,056

)

(48,702

)
NET LIABILITIES (2,448,483 ) (2,223,455 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 (2,448,484 ) (2,223,456 )
SHAREHOLDERS' FUNDS (2,448,483 ) (2,223,455 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CREST VENTURES LIMITED (REGISTERED NUMBER: 10001301)

STATEMENT OF FINANCIAL POSITION - continued
27 FEBRUARY 2023


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

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

The financial statements were approved by the director and authorised for issue on 14 February 2024 and were signed by:





J Fried - Director


CREST VENTURES LIMITED (REGISTERED NUMBER: 10001301)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2023

1. STATUTORY INFORMATION

Crest Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 3 (2022 - 6 ) .

CREST VENTURES LIMITED (REGISTERED NUMBER: 10001301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 28 February 2022
and 27 February 2023 16,501 4,936 21,437
DEPRECIATION
At 28 February 2022 7,796 2,716 10,512
Charge for year 1,306 732 2,038
At 27 February 2023 9,102 3,448 12,550
NET BOOK VALUE
At 27 February 2023 7,399 1,488 8,887
At 27 February 2022 8,705 2,220 10,925

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.2.23 27.2.22
£    £   
Trade debtors 173,893 155,183
Other debtors 254,512 380,207
428,405 535,390

6. CURRENT ASSET INVESTMENTS
27.2.23 27.2.22
£    £   
Unlisted investments 300,609 300,609

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.2.23 27.2.22
£    £   
Trade creditors 73,255 92,875
Taxation and social security 188,942 173,268
Other creditors 2,881,850 2,756,390
3,144,047 3,022,533

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
27.2.23 27.2.22
£    £   
Other creditors 43,056 48,702

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 43,056 48,702

CREST VENTURES LIMITED (REGISTERED NUMBER: 10001301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 27.2.23 27.2.22
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£   

At 28 February 2022 (2,223,456 )
Deficit for the year (225,028 )
At 27 February 2023 (2,448,484 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is J Fried.