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REGISTERED NUMBER: 03454769 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

KRESTIC LIMITED

KRESTIC LIMITED (REGISTERED NUMBER: 03454769)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KRESTIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: D Rothbart





SECRETARY: Mrs M Rothbart





REGISTERED OFFICE: 24 Jessam Avenue
London
England
E5 9DU





REGISTERED NUMBER: 03454769 (England and Wales)





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

KRESTIC LIMITED (REGISTERED NUMBER: 03454769)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Investment property 5 650,000 650,000

CURRENT ASSETS
Debtors 6 178,677 151,869
Investments 7 36,868 28,971
215,545 180,840
CREDITORS
Amounts falling due within one year 8 (113,950 ) (81,315 )
NET CURRENT ASSETS 101,595 99,525
TOTAL ASSETS LESS CURRENT
LIABILITIES

751,595

749,525

CREDITORS
Amounts falling due after more than one
year

9

(105,360

)

(109,238

)

PROVISIONS FOR LIABILITIES (88,251 ) (88,251 )
NET ASSETS 557,984 552,036

CAPITAL AND RESERVES
Called up share capital 12 1 1
Revaluation reserve 13 485,304 485,304
Retained earnings 13 72,679 66,731
SHAREHOLDERS' FUNDS 557,984 552,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

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

KRESTIC LIMITED (REGISTERED NUMBER: 03454769)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 20 June 2024 and were signed by:





D Rothbart - Director


KRESTIC LIMITED (REGISTERED NUMBER: 03454769)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Krestic 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. 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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

KRESTIC LIMITED (REGISTERED NUMBER: 03454769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 650,000
NET BOOK VALUE
At 31 October 2023 650,000
At 31 October 2022 650,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2016 562,555
Valuation in 2017 11,000
Valuation in 2021 76,445
650,000

The directors have confirmed that there is no significant increase or decrease in the property market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 178,677 151,869

7. CURRENT ASSET INVESTMENTS
31.10.23 31.10.22
£    £   
Unlisted investments 36,868 28,971

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 10) 10,002 9,662
Taxation and social security 4,132 2,360
Other creditors 99,816 69,293
113,950 81,315

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 10) 105,360 109,238

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 98,202 99,789

KRESTIC LIMITED (REGISTERED NUMBER: 03454769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

10. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 10,002 9,662

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,158 9,449

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 98,202 99,789

11. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdrafts 10,002 9,662
Bank loans 105,360 109,238
115,362 118,900

1. Long term bank loan is secured by first charge over the company's investment property.

2. Included within bank loans is £7,158 (2022: £9,449) due under the Bounce Back Loan Scheme (BBLS). The loan is interest free for the first year, then capped at 2.5% thereafter and backed by HM Government.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 November 2022 66,731 485,304 552,035
Profit for the year 7,948 7,948
Dividends (2,000 ) (2,000 )
At 31 October 2023 72,679 485,304 557,983

KRESTIC LIMITED (REGISTERED NUMBER: 03454769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Rothbart.