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REGISTERED NUMBER: 05658243 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

CRESTPARK PROPERTIES LIMITED

CRESTPARK PROPERTIES LIMITED (REGISTERED NUMBER: 05658243)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRESTPARK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mr J Feldman





REGISTERED OFFICE: 105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ





REGISTERED NUMBER: 05658243 (England and Wales)





ACCOUNTANTS: DAS Accounting Services Ltd
105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ

CRESTPARK PROPERTIES LIMITED (REGISTERED NUMBER: 05658243)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Investment property 5 5,000,000 8,008,000

CURRENT ASSETS
Debtors 6 4,167,071 923,655
Cash at bank 3,179 -
4,170,250 923,655
CREDITORS
Amounts falling due within one year 7 (430,652 ) (841,995 )
NET CURRENT ASSETS 3,739,598 81,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,739,598

8,089,660

CREDITORS
Amounts falling due after more than one year 8 (3,106,090 ) (3,752,525 )

PROVISIONS FOR LIABILITIES 9 (620,000 ) (699,731 )
NET ASSETS 5,013,508 3,637,404

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,013,408 3,637,304
5,013,508 3,637,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

CRESTPARK PROPERTIES LIMITED (REGISTERED NUMBER: 05658243)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2024 and were signed by:





Mr J Feldman - Director


CRESTPARK PROPERTIES LIMITED (REGISTERED NUMBER: 05658243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Crestpark Properties 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The director does not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

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

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


CRESTPARK PROPERTIES LIMITED (REGISTERED NUMBER: 05658243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2022 8,008,000
Disposals (4,310,000 )
Revaluations 1,302,000
At 31 December 2022 5,000,000
NET BOOK VALUE
At 31 December 2022 5,000,000
At 31 December 2021 8,008,000

The director is of the opinion that £5,000,000 represents the open market value of the investment properties at 31 December 2022. The historical cost of the investment properties is £1,839,463 (2021: £3,891,937).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 6,018 (5,152 )
Other debtors 4,161,053 928,807
4,167,071 923,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 8,850 60,851
Taxation 33,401 35,405
Other creditors 388,401 745,739
430,652 841,995

CRESTPARK PROPERTIES LIMITED (REGISTERED NUMBER: 05658243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 3,106,090 3,752,525

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 620,000 699,731

Deferred
tax
£   
Balance at 1 January 2022 699,731
Movement during the year (79,731 )
Balance at 31 December 2022 620,000

The provision for deferred tax is in relation to timing differences in respect of the revaluation of investment properties.