Company registration number 01557778 (England and Wales)
CRESCENT AMENITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CRESCENT AMENITY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CRESCENT AMENITY LIMITED
BALANCE SHEET
AS AT
24 DECEMBER 2023
24 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
8,277
7,545
Cash at bank and in hand
383,993
300,785
392,270
308,330
Creditors: amounts falling due within one year
4
(49,759)
(48,193)
Net current assets
342,511
260,137
Capital and reserves
Called up share capital
5
93
93
Profit and loss reserves
6
342,418
260,044
Total equity
342,511
260,137

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 24 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
R J Adam
Director
Company registration number 01557778 (England and Wales)
CRESCENT AMENITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Crescent Amenity Limited is a private company limited by shares incorporated in England and Wales. The registered office is Westbourne Block Management, 9 Spring Street, London, W2 3RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable during the year in respect of amenity company services.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, other loans, deposits and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received.

1.6
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, this excludes rent charges as these are exempt from tax. Taxable income is based on other income and interest received gross. 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.

CRESCENT AMENITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7

Key deposits

Residents living in houses bordering the communal gardens who contribute to the Garden costs may purchase a key for the gardens at a cost of £60 of which £50 is repayable if the key is returned and subject to certain other conditions. Based on the historic numbers of keys issued and returned, a provision has been set up which is considered adequate to meet this liability.

 

The administration fee received on key deposits is recognised at the point where the deposit is received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,953
5,547
Other debtors
4,324
1,998
8,277
7,545
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
1,311
198
Other creditors
48,448
47,995
49,759
48,193
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
93
93
93
93
CRESCENT AMENITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 DECEMBER 2023
- 4 -
6
Profit and loss reserves
2023
2022
£
£
At the beginning of the year
260,044
209,436
Profit for the year
82,374
50,608
At the end of the year
342,418
260,044
Amenity
Gardens
Roadways
£
£
£
Unappropriated retained earnings
At the beginning of the year
32,990
89,996
56,638
Profit/(loss) for the year before interest and tax
(1,992)
60,161
18,416
Interest receivable
690
4,693
1,518
Taxation
(131)
(892)
(288)
Taxation re prior year adjustment not pursued
20
135
44
Transferred in the year
-
(20,000)
-
At the end of the year
31,577
134,093
76,328
Appropriated for future use
At the beginning of the year
1,000
79,420
-
Transferred in the year
-
20,000
-
At the end of the year
1,000
99,420
-
Total retained earnings
32,577
233,513
76,328
Appropriated retained earnings represents amounts set aside for specific garden and amenity items such as pathways, drains and trees for which replacement or renovation is required in future years.  The amounts required for these future expenditures, as well as the necessary appropriations, are determined by the Directors. Future appropriations will be funded from the annual rentcharges to freeholders of Crescent Amenity Limited
7
Related party transactions

During the year the directors of the company were charged for services in relation to the maintenance of the common parts and garden areas within the Crescent Amenity area. These services were inline with the Rentcharge Deed and Transfer and on the same terms as all other tenants and in line with the company's standard activities.

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