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REGISTERED NUMBER: 03482300 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Crantock Limited

Crantock Limited (Registered number: 03482300)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crantock Limited

Company Information
For The Year Ended 31 December 2023







DIRECTOR: J Poore Esq





SECRETARY: Mrs W Poore





REGISTERED OFFICE: May Hall
Darnells Lane
Gorsley
Herefordshire
HR9 7SG





REGISTERED NUMBER: 03482300 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Crantock Limited (Registered number: 03482300)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,225,000 1,230,000

CURRENT ASSETS
Cash at bank 22,936 72,899

CREDITORS
Amounts falling due within one year 5 12,962 44,294
NET CURRENT ASSETS 9,974 28,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,234,974

1,258,605

CREDITORS
Amounts falling due after more than one
year

6

(381,247

)

(401,024

)

PROVISIONS FOR LIABILITIES (90,430 ) (69,677 )
NET ASSETS 763,297 787,904

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 531,262 557,015
Retained earnings 232,033 230,887
SHAREHOLDERS' FUNDS 763,297 787,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Crantock Limited (Registered number: 03482300)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





J Poore Esq - Director


Crantock Limited (Registered number: 03482300)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Crantock Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided

Crantock Limited (Registered number: 03482300)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, 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.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.


Crantock Limited (Registered number: 03482300)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 January 2023 1,230,000
Revaluations (5,000 )
At 31 December 2023 1,225,000
NET BOOK VALUE
At 31 December 2023 1,225,000
At 31 December 2022 1,230,000

Cost or valuation at 31 December 2023 is represented by:

Land and
buildings
£   
Valuation in 2015 216,592
Valuation in 2021 410,000
Valuation in 2023 (5,000 )
Cost 603,408
1,225,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 738 2,546
Other creditors 12,224 41,748
12,962 44,294

Crantock Limited (Registered number: 03482300)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 381,247 401,024

7. RESERVES
Revaluation
reserve
£   
At 1 January 2023 557,015
Property Revaluation (25,753 )

At 31 December 2023 531,262