Crimplefine Limited 01258050 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Property investment company Digita Accounts Production Advanced 6.30.9574.0 true true 01258050 2023-04-01 2024-03-31 01258050 2024-03-31 01258050 bus:OrdinaryShareClass1 2024-03-31 01258050 core:RetainedEarningsAccumulatedLosses 2024-03-31 01258050 core:RevaluationReserve 2024-03-31 01258050 core:ShareCapital 2024-03-31 01258050 core:CurrentFinancialInstruments 2024-03-31 01258050 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01258050 core:FurnitureFittingsToolsEquipment 2024-03-31 01258050 bus:SmallEntities 2023-04-01 2024-03-31 01258050 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01258050 bus:FullAccounts 2023-04-01 2024-03-31 01258050 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01258050 bus:RegisteredOffice 2023-04-01 2024-03-31 01258050 bus:Director3 2023-04-01 2024-03-31 01258050 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01258050 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01258050 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 01258050 core:OfficeEquipment 2023-04-01 2024-03-31 01258050 countries:UnitedKingdom 2023-04-01 2024-03-31 01258050 2023-03-31 01258050 core:FurnitureFittingsToolsEquipment 2023-03-31 01258050 2022-04-01 2023-03-31 01258050 2023-03-31 01258050 bus:OrdinaryShareClass1 2023-03-31 01258050 core:RetainedEarningsAccumulatedLosses 2023-03-31 01258050 core:RevaluationReserve 2023-03-31 01258050 core:ShareCapital 2023-03-31 01258050 core:CurrentFinancialInstruments 2023-03-31 01258050 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01258050 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01258050

Crimplefine Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Crimplefine Limited

(Registration number: 01258050)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

124

186

Investment property

5

695,000

695,000

 

695,124

695,186

Current assets

 

Debtors

6

4,198

5,823

Cash at bank and in hand

 

31,630

27,298

 

35,828

33,121

Creditors: Amounts falling due within one year

7

(5,186)

(5,972)

Net current assets

 

30,642

27,149

Total assets less current liabilities

 

725,766

722,335

Provisions for liabilities

(120,676)

(120,676)

Net assets

 

605,090

601,659

Capital and reserves

 

Called up share capital

8

1,100

1,100

Fair Value Reserve

438,061

438,061

Retained earnings

165,929

162,498

Shareholders' funds

 

605,090

601,659

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

 

Crimplefine Limited

(Registration number: 01258050)
Balance Sheet as at 31 March 2024

.........................................
G S Dicker
Director

 

Crimplefine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

These financial statements were authorised for issue by the Board on 17 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts, where applicable.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Crimplefine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% p.a. reducing balance basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Crimplefine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

629

629

At 31 March 2024

629

629

Depreciation

At 1 April 2023

443

443

Charge for the year

62

62

At 31 March 2024

505

505

Carrying amount

At 31 March 2024

124

124

At 31 March 2023

186

186

5

Investment properties

2024
£

At 1 April

695,000

At 31 March

695,000

Investment properties are revalued independently. No depreciation is provided on the properties, and revaluation surplus or deficit is shown within the fair value reserve as part of capital.

The investment property was revalued by an independent valuer in 2020. The director believes this value to be representative at the balance sheet date. The historic cost of the property is £136,263.

6

Debtors

Current

2024
£

2023
£

Prepayments

4,198

5,823

 

Crimplefine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,857

4,336

Accruals and deferred income

960

900

Other creditors

1,369

736

5,186

5,972

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary £1 of £1 each

1,100

1,100

1,100

1,100