Cranem Ltd Filleted Accounts Cover
Cranem Ltd
Company No. 13452035
Information for Filing with The Registrar
31 December 2023
Cranem Ltd Balance Sheet Registrar
at
31 December 2023
Company No.
13452035
Notes
2023
2022
£
£
Fixed assets
Investments
4
150150
150150
Current assets
Debtors
5
10,509,90310,512,303
Cash at bank and in hand
1,1086,180
10,511,01110,518,483
Creditors: Amount falling due within one year
6
(502,746)
(65,346)
Net current assets
10,008,26510,453,137
Total assets less current liabilities
10,008,41510,453,287
Creditors: Amounts falling due after more than one year
7
(11,000,000)
(11,000,000)
Net liabilities
(991,585)
(546,713)
Capital and reserves
Called up share capital
100100
Profit and loss account
9
(991,685)
(546,813)
Total equity
(991,585)
(546,713)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 July 2024 and signed on its behalf by:
N.P. Manzoor
Director
31 July 2024
Cranem Ltd Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Cranem Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 13452035
Its registered office is:
Suite G1
Hartsbourne House
Delta Gain
Watford
WD19 5EF
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on a going concern basis. The company has obtained undertaking from its shareholder that they will continue to support the company for the foreseeable future and meet all third party liabilities as they fall due. Given this undertaking, the director considers it appropriate to adopt a going concern basis in preparing the financial statements.
Preparation of consolidated financial statements
The financial statements contain information about Cranem Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
2
Accounting policies
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and the future periods where the revision affects both current and future periods.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Investments
Investment in Subsidiaries
Total
£
£
Cost or valuation
At 1 January 2023
150
150
At 31 December 2023
150
150
Provisions/Impairment
Net book values
At 31 December 2023
150
150
At 31 December 2022
150
150
5
Debtors
2023
2022
£
£
Other debtors
10,509,90310,512,303
10,509,90310,512,303
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
451,100
16,100
Loans from directors
49,24649,246
Accruals and deferred income
2,400-
502,74665,346
7
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,000,00011,000,000
11,000,00011,000,000
8
Share Capital
Fully paid 100 shares of £1.00 each.
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Contingent Assets/Liabilities
The lender has a floating charge against all the properties or undertaking of the company.
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