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Registration number: 03351528

Crest Commercial Interiors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Crest Commercial Interiors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Crest Commercial Interiors Limited

Company Information

Director

WB Little

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus
Chartered Accountants
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Crest Commercial Interiors Limited

(Registration number: 03351528)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

298

Current assets

 

Stocks

5

500

500

Debtors

6

34,330

36,080

Cash at bank and in hand

 

16,554

11,390

 

51,384

47,970

Creditors: Amounts falling due within one year

7

(14,536)

(14,727)

Net current assets

 

36,848

33,243

Total assets less current liabilities

 

36,848

33,541

Provisions for liabilities

-

(57)

Net assets

 

36,848

33,484

Capital and reserves

 

Called up share capital

100

100

Retained earnings

36,748

33,384

Shareholders' funds

 

36,848

33,484

For the financial year 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 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.

 

Crest Commercial Interiors Limited

(Registration number: 03351528)
Balance Sheet as at 31 March 2024

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 21 August 2024
 

WB Little
Director

   
     
 

Crest Commercial Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
England

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared 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.

 

Crest Commercial Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Crest Commercial Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Crest Commercial Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

20,875

20,875

Disposals

(20,875)

(20,875)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

20,577

20,577

Eliminated on disposal

(20,577)

(20,577)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

298

298

5

Stocks

2024
£

2023
£

Other inventories

500

500

6

Debtors

2024
£

2023
£

Other debtors

34,220

35,907

Prepayments

110

173

34,330

36,080

 

Crest Commercial Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18

18

Taxation and social security

1,309

1,457

Accruals and deferred income

480

480

Other creditors

12,729

12,772

14,536

14,727