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Registered Number: 05130277
England and Wales

 

 

 

CRESTAWAY LIMITED


Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Lu Ann Sellers
Registered Number 05130277
Registered Office UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
Accountants UWM Accountants
UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 432,000    880,630 
432,000    880,630 
Current assets      
Cash at bank and in hand 9,599    15,957 
Creditors: amount falling due within one year 4 (105,290)   (291,317)
Net current assets (95,691)   (275,360)
 
Total assets less current liabilities 336,309    605,270 
Creditors: amount falling due after more than one year 5 (269,136)   (430,437)
Provisions for liabilities 6 (12,680)   (49,196)
Net assets 54,493    125,637 
 

Capital and reserves
     
Called up share capital 2    2 
Fair Value Reserves 7 49,320    150,600 
Profit and loss account 5,171    (24,965)
Shareholders' funds 54,493    125,637 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 29 August 2024 and were signed by:


-------------------------------
Lu Ann Sellers
Director
2
General Information
Crestaway Limited is a private company, limited by shares, registered in England and Wales, registration number 05130277, registration address UWM House, 6 Fusion Court, Leeds, West Yorkshire, LS25 2GH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 June 2023 741,447    741,447 
Additions  
Disposals (310,832)   (310,832)
Revaluations 1,385    1,385 
At 31 May 2024 432,000    432,000 
Depreciation
At 01 June 2023  
Charge for year  
On disposals  
At 31 May 2024  
Net book values
Closing balance as at 31 May 2024 432,000    432,000 
Opening balance as at 01 June 2023 880,630    880,630 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts   13,228 
Obligations under HP/Financial Leases   666 
Other Creditors 105,290    277,423 
105,290    291,317 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 269,136    430,437 
269,136    430,437 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 12,680    49,196 
12,680    49,196 

7.

Fair Value Reserves

2024
£
  2023
£
Fair Value Reserve (101,279)   21,218 
Fair Value Reserve b/fwd 150,599    129,382 
49,320    150,600 

3