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Registrar

Registration number: 10208641

Crescent Retail Design Limited

Unaudited Filleted Financial Statements

for the Period from 1 December 2022 to 31 March 2024

 

Crescent Retail Design Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Crescent Retail Design Limited

Company Information

Directors

P E Cooper

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank
Chelmsford
40-41 High Street
Chelmsford
Essex
CM1 1BE

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Crescent Retail Design Limited
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Crescent Retail Design Limited for the period ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Crescent Retail Design Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Crescent Retail Design Limited and state those matters that we have agreed to state to the Board of Directors of Crescent Retail Design Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crescent Retail Design Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Crescent Retail Design Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Crescent Retail Design Limited. You consider that Crescent Retail Design Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Crescent Retail Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

27 August 2024

 

Crescent Retail Design Limited

(Registration number: 10208641)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

81,117

37,233

Current assets

 

Stocks

5

9,992

1,050

Debtors

6

251,332

172,177

Cash at bank and in hand

 

396,389

127,478

 

657,713

300,705

Creditors: Amounts falling due within one year

7

(453,862)

(192,644)

Net current assets

 

203,851

108,061

Total assets less current liabilities

 

284,968

145,294

Creditors: Amounts falling due after more than one year

7

(11,667)

(25,000)

Provisions for liabilities

(19,902)

(7,074)

Net assets

 

253,399

113,220

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

253,299

113,120

Shareholders' funds

 

253,399

113,220

For the financial period ending 31 March 2024 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 period 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 27 August 2024
 

P E Cooper
Director

 

Crescent Retail Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

1

General information

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

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, England.

The principal place of business is: 162 Eastways, Witham, Essex, CM8 3YS.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the design, sale and installation of pharmacy interiors in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Crescent Retail Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

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

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

 

Crescent Retail Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 7 (2022 - 6).

 

Crescent Retail Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

16,341

65,845

-

82,186

Additions

8,373

56,290

1,508

66,171

Disposals

-

(38,350)

-

(38,350)

At 31 March 2024

24,714

83,785

1,508

110,007

Depreciation

At 1 December 2022

11,618

33,335

-

44,953

Charge for the period

2,356

10,217

117

12,690

Eliminated on disposal

-

(28,753)

-

(28,753)

At 31 March 2024

13,974

14,799

117

28,890

Carrying amount

At 31 March 2024

10,740

68,986

1,391

81,117

At 30 November 2022

4,723

32,510

-

37,233

5

Stocks

2024
£

2022
£

Other inventories

9,992

1,050

6

Debtors

Note

2024
£

2022
£

Trade debtors

 

127,938

13,860

Directors loan account

10

83,101

81,988

Prepayments

 

4,956

700

Other debtors

 

35,337

75,629

   

251,332

172,177

Less non-current portion

 

(83,101)

-

 

168,231

172,177

Details of non-current trade and other debtors

£83,101 (2022 -£Nil) of directors loan account is classified as non current.

 

Crescent Retail Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

129,020

60,963

Taxation and social security

 

95,765

31,221

Accruals and deferred income

 

26,295

27,515

Other creditors

 

192,782

62,945

 

453,862

192,644

8

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £20,959 (2022 - £19,127).

10

Related party transactions

Transactions with the director

2024

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors loan transactions

81,988

2,866

(1,753)

83,101

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Directors loan transactions

83,338

1,815

(3,165)

81,988