Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseproperty management44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 2920187 2023-01-01 2023-12-31 2920187 2022-01-01 2022-12-31 2920187 2023-12-31 2920187 2022-12-31 2920187 2022-01-01 2920187 7 2023-01-01 2023-12-31 2920187 7 2022-01-01 2022-12-31 2920187 d:Director3 2023-01-01 2023-12-31 2920187 e:Buildings 2023-12-31 2920187 e:Buildings 2022-12-31 2920187 e:Buildings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 2920187 e:Buildings e:ShortLeaseholdAssets 2023-01-01 2023-12-31 2920187 e:PlantMachinery 2023-01-01 2023-12-31 2920187 e:PlantMachinery 2023-12-31 2920187 e:PlantMachinery 2022-12-31 2920187 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 2920187 e:FurnitureFittings 2023-01-01 2023-12-31 2920187 e:FurnitureFittings 2023-12-31 2920187 e:FurnitureFittings 2022-12-31 2920187 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 2920187 e:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 2920187 e:OtherPropertyPlantEquipment 2023-12-31 2920187 e:OtherPropertyPlantEquipment 2022-12-31 2920187 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 2920187 e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 2920187 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 2920187 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 2920187 e:FreeholdInvestmentProperty 2023-12-31 2920187 e:FreeholdInvestmentProperty 2022-12-31 2920187 e:CurrentFinancialInstruments 2023-12-31 2920187 e:CurrentFinancialInstruments 2022-12-31 2920187 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 2920187 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 2920187 e:ShareCapital 2023-12-31 2920187 e:ShareCapital 2022-12-31 2920187 e:ShareCapital 2022-01-01 2920187 e:SharePremium 2023-12-31 2920187 e:SharePremium 2022-12-31 2920187 e:SharePremium 2022-01-01 2920187 e:InvestmentPropertiesRevaluationReserve 2023-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2022-12-31 2920187 e:InvestmentPropertiesRevaluationReserve 2022-01-01 2920187 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 2920187 e:OtherMiscellaneousReserve 2023-12-31 2920187 e:OtherMiscellaneousReserve 2022-01-01 2022-12-31 2920187 e:OtherMiscellaneousReserve 2022-12-31 2920187 e:OtherMiscellaneousReserve 2022-01-01 2920187 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2023-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2022-12-31 2920187 e:RetainedEarningsAccumulatedLosses 2022-01-01 2920187 e:RetirementBenefitObligationsDeferredTax 2023-12-31 2920187 e:RetirementBenefitObligationsDeferredTax 2022-12-31 2920187 e:OtherDeferredTax 2023-12-31 2920187 e:OtherDeferredTax 2022-12-31 2920187 d:FRS102 2023-01-01 2023-12-31 2920187 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 2920187 d:FullAccounts 2023-01-01 2023-12-31 2920187 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 2920187 6 2023-01-01 2023-12-31 2920187 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 2920187





 
Crestwood Holdings Limited          
 
Financial statements          

For the year ended 31 December 2023          

 
Crestwood Holdings Limited
Registered number:2920187

Balance sheet
As at 31 December 2023


2023

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
8,779
10,696

Investments
 6 
2,091,967
1,868,712

Investment property
 7 
2,357,500
2,357,500

  
4,458,246
4,236,908

Current assets
  

Debtors
 8 
410,046
444,479

Cash at bank and in hand
  
428,243
526,643

  
838,289
971,122

Creditors: amounts falling due within one year
 9 
(977,408)
(1,097,105)

Net current liabilities
  
 
 
(139,119)
 
 
(125,983)

Total assets less current liabilities
  
4,319,127
4,110,925

Provisions for liabilities
  

Deferred tax
 10 
(132,163)
(89,322)

Net assets
  
4,186,964
4,021,603


Capital and reserves
  

Called up share capital 
  
2,147,333
2,147,333

Share premium account
  
57,180
57,180

Investment property revaluation reserve
  
224,515
224,515

Other reserves
  
171,973
43,454

Profit and loss account
  
1,585,963
1,549,121

  
4,186,964
4,021,603


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
Crestwood Holdings Limited
Registered number:2920187
    
Balance sheet (continued)
As at 31 December 2023

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 9 August 2024.




J Bust
Director
























The notes on pages 4 to 11 form part of these financial statements. 
Page 2

 
Crestwood Holdings Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Share premium account
Investment property revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£
£


At 1 January 2022
2,147,333
57,180
224,515
206,457
1,594,788
4,230,273



Loss for the year
-
-
-
-
(208,670)
(208,670)

Fair value adjustments
-
-
-
-
163,003
163,003

Transfer from profit and loss account
-
-
-
(163,003)
-
(163,003)



At 1 January 2023
2,147,333
57,180
224,515
43,454
1,549,121
4,021,603



Profit for the year
-
-
-
-
165,361
165,361

Fair value adjustments
-
-
-
-
(128,519)
(128,519)

Transfer from profit and loss account
-
-
-
128,519
-
128,519


At 31 December 2023
2,147,333
57,180
224,515
171,973
1,585,963
4,186,964

















The notes on pages 4 to 11 form part of these financial statements.
Page 3

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Crestwood Holdings Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Crestwood House, Saint Martins, Stamford, Lincolnshire, PE9 2LG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a reducing balance basis or straight line basis.

Depreciation is provided at the following rates:

Leasehold land and buildings
-
5% Straight line
Plant and equipment
-
25% Reducing balance
Fixtures and fittings
-
15% Reducing balance
Computer equipment
-
50% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the directors and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 7

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Intangible assets




Development costs

£



Cost


At 1 January 2023
202,177



At 31 December 2023

202,177



Amortisation


At 1 January 2023
202,177



At 31 December 2023

202,177



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 8

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

5.


Tangible fixed assets





Land and buildings
Plant and equipment
Furniture and fittings
Computer equipment
Total

£
£
£
£
£



Cost


At 1 January 2023
12,984
59,486
87,043
1,826
161,339



At 31 December 2023

12,984
59,486
87,043
1,826
161,339



Depreciation


At 1 January 2023
12,984
57,436
78,698
1,527
150,645


Charge for the year
-
513
1,252
150
1,915



At 31 December 2023

12,984
57,949
79,950
1,677
152,560



Net book value



At 31 December 2023
-
1,537
7,093
149
8,779



At 31 December 2022
-
2,050
8,346
300
10,696


6.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Listed investments
Other fixed asset investments
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
1,000
1,000
1,796,462
70,250
1,868,712


Additions
-
-
127,844
-
127,844


Disposals
-
-
(100,626)
-
(100,626)


Revaluations
-
-
119,782
76,255
196,037



At 31 December 2023
1,000
1,000
1,943,462
146,505
2,091,967




Page 9

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

7.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
2,357,500



At 31 December 2023
2,357,500

The 2023 valuations were made by the directors, having regard to professional advice taken personally. 



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,074,911
2,074,911


8.


Debtors

2023
2022
£
£


Trade debtors
377,562
387,386

Other debtors
31,303
40,575

Prepayments and accrued income
1,181
16,518

410,046
444,479



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,976
14,731

Amounts owed to group undertakings
460,393
435,487

Other taxation and social security
1,453
5,995

Other creditors
499,911
615,107

Accruals and deferred income
8,675
25,785

977,408
1,097,105


Page 10

 
Crestwood Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
89,323
143,657


Charge for/(released during) the year
42,840
(54,335)



At end of year
132,163
89,322

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment properties
74,838
74,838

Revaluation of listed investments
57,324
14,485

132,162
89,323


11.


Related party transactions

During the year, the company charged rent totalling £2,000 (2022 - £4,800) to a related party. 
During the year £1,430 
(2022 - £3,996) was charged to related parties in relation to management charges. 
At the balance sheet date, the company owed £460,393 (
2022 £435,487) to Crestwood UK Ltd, a subsidiary company. No interest was charged on this loan.
The company was owed £25,362 
(2022 - £25,362) by Deseo Ltd, a subsidiary company. No interest was charged on this loan.

 
Page 11