Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mrs C A Kay 07/06/1994 Ms N Kay 30/09/2005 Mr R A Kay 30/09/2005 Mr R D Kay 07/06/1994 Mr S P Kay 30/09/2005 Robert Duncan Kay 02 August 2024 The principal activity of the Company during the financial year was that of management services to the construction industry and property development. SC150485 2023-12-31 SC150485 bus:Director1 2023-12-31 SC150485 bus:Director2 2023-12-31 SC150485 bus:Director3 2023-12-31 SC150485 bus:Director4 2023-12-31 SC150485 bus:Director5 2023-12-31 SC150485 2022-12-31 SC150485 core:CurrentFinancialInstruments 2023-12-31 SC150485 core:CurrentFinancialInstruments 2022-12-31 SC150485 core:Non-currentFinancialInstruments 2023-12-31 SC150485 core:Non-currentFinancialInstruments 2022-12-31 SC150485 core:ShareCapital 2023-12-31 SC150485 core:ShareCapital 2022-12-31 SC150485 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC150485 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC150485 core:LandBuildings 2022-12-31 SC150485 core:OtherPropertyPlantEquipment 2022-12-31 SC150485 core:LandBuildings 2023-12-31 SC150485 core:OtherPropertyPlantEquipment 2023-12-31 SC150485 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-12-31 SC150485 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-12-31 SC150485 bus:OrdinaryShareClass1 2023-12-31 SC150485 core:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-12-31 SC150485 core:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2022-12-31 SC150485 core:KeyManagementPersonnel 2023-12-31 SC150485 core:KeyManagementPersonnel 2022-12-31 SC150485 2023-01-01 2023-12-31 SC150485 bus:FilletedAccounts 2023-01-01 2023-12-31 SC150485 bus:SmallEntities 2023-01-01 2023-12-31 SC150485 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC150485 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC150485 bus:Director1 2023-01-01 2023-12-31 SC150485 bus:Director2 2023-01-01 2023-12-31 SC150485 bus:Director3 2023-01-01 2023-12-31 SC150485 bus:Director4 2023-01-01 2023-12-31 SC150485 bus:Director5 2023-01-01 2023-12-31 SC150485 bus:Director6 2023-01-01 2023-12-31 SC150485 core:LandBuildings 2023-01-01 2023-12-31 SC150485 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC150485 2022-01-01 2022-12-31 SC150485 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC150485 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 SC150485 core:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-01-01 2023-12-31 SC150485 core:KeyManagementPersonnel 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC150485 (Scotland)

CRESCENTWOOD LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

CRESCENTWOOD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

CRESCENTWOOD LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
CRESCENTWOOD LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 727 964
727 964
Current assets
Debtors
- due within one year 4 666 78
- due after more than one year 4 0 106,803
Cash at bank and in hand 5 3,806 10,818
4,472 117,699
Creditors: amounts falling due within one year 6 ( 11,077) ( 8,841)
Net current (liabilities)/assets (6,605) 108,858
Total assets less current liabilities (5,878) 109,822
Net (liabilities)/assets ( 5,878) 109,822
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 5,880 ) 109,820
Total shareholders' (deficit)/funds ( 5,878) 109,822

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.

Directors' responsibilities:

The financial statements of Crescentwood Limited (registered number: SC150485) were approved and authorised for issue by the Board of Directors on 02 August 2024. They were signed on its behalf by:

Robert Duncan Kay
Director
CRESCENTWOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
CRESCENTWOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Crescentwood Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is The Farmhouse, Ballingall, Kinross, KY13 0RH, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £5,878. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Turnover is recognised when the company has entitlement to the income in exchange for the provision of services.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 % reducing balance
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 2,281 10,270 12,551
At 31 December 2023 2,281 10,270 12,551
Accumulated depreciation
At 01 January 2023 2,191 9,396 11,587
Charge for the financial year 18 219 237
At 31 December 2023 2,209 9,615 11,824
Net book value
At 31 December 2023 72 655 727
At 31 December 2022 90 874 964

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Amounts owed by connected companies (note 8) 0 0
Other debtors 666 78
666 78
Debtors: amounts falling due after more than one year
Amounts owed by connected companies (note 8) 0 106,803

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 3,806 10,818

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 258 0
Other creditors 10,819 8,841
11,077 8,841

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with related parties or connected persons

Amounts owed to connected companies

2023 2022
£ £
Amounts owed by associated company 0 106,803

Amounts due to the company from associated companies totalling £106,803 was written off in the year.

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

2023 2022
£ £
Director loan 6,611 6,940

The loan is interest free and has no fixed terms of repayment.

During the year the company occupied premises owned by R D Kay and C A Kay, rent free.