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Registration number: 02916200

Crestgreen Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Crestgreen Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Crestgreen Limited

(Registration number: 02916200)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Current assets

   

 

Debtors

4

 

102,776

 

102,626

Cash at bank and in hand

   

333

 

1,983

   

103,109

 

104,609

Creditors: Amounts falling due within one year

5

 

(103,721)

 

(105,221)

Net liabilities

   

(612)

 

(612)

Capital and reserves

   

 

Called up share capital

6

4

 

4

 

Retained earnings

(616)

 

(616)

 

Shareholders' deficit

   

(612)

 

(612)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 June 2024
 

.........................................
C J Ross
Director

 

Crestgreen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
20 Low Street
Keighley
West Yorkshire
BD21 3PN

These financial statements were authorised for issue by the director on 5 June 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Going concern

The company has the ongoing support of the director who has confirmed that they will not call for repayment of their loan on terms that would be prejudicial to the companies continuing activities. Having considered the validity of the going concern concept in relation to these accounts, the director has concluded that the company will continue in operation for the foreseeable future and has therefore prepared the financial statements 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.

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.

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.

 

Crestgreen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Debtors

Current

2023
£

2022
£

Other debtors

102,776

102,626

 

102,776

102,626

 

Crestgreen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

102,902

104,402

Taxation and social security

819

819

103,721

105,221

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

4

4

4

4

         

7

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

102,902

2022

Key management
£

Amounts payable to related party

104,402