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REGISTERED NUMBER: 11795104 (England and Wales)





















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Crimson Gate Limited

Crimson Gate Limited (Registered number: 11795104)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Crimson Gate Limited (Registered number: 11795104)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 244 256
Investment property 5 715,000 715,000
715,244 715,256

CURRENT ASSETS
Debtors 6 250 -
Cash at bank 119 230,011
369 230,011
CREDITORS
Amounts falling due within one year 7 523,110 761,275
NET CURRENT LIABILITIES (522,741 ) (531,264 )
TOTAL ASSETS LESS CURRENT LIABILITIES 192,503 183,992

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 8 134,835 134,835
Retained earnings 57,468 48,957
192,503 183,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Crimson Gate Limited (Registered number: 11795104)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





L J Williams - Director


Crimson Gate Limited (Registered number: 11795104)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Crimson Gate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11795104

Registered office: First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company holds the following financial instruments:

- Short term trade and other debtors and creditors;
- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Basic financial assets comprise short term trade and other debtors and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


Crimson Gate Limited (Registered number: 11795104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 1,346
Additions 486
Disposals (1,346 )
At 31 January 2024 486
DEPRECIATION
At 1 February 2023 1,090
Charge for year 243
Eliminated on disposal (1,091 )
At 31 January 2024 242
NET BOOK VALUE
At 31 January 2024 244
At 31 January 2023 256

Crimson Gate Limited (Registered number: 11795104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 715,000
NET BOOK VALUE
At 31 January 2024 715,000
At 31 January 2023 715,000

The investment properties class of fixed assets was revalued on 31 January 2024 by the director who is internal to the company. The basis of this valuation was open market basis. At this date the properties were valued at £715,000.

There has been no valuation of investment property by an independent valuer.

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2021 45,582
Valuation in 2022 106,815
Valuation in 2023 (17,562 )
Cost 580,165
715,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 580,165 580,165

Investment properties were valued on an open market basis basis on 31 January 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 250 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Taxation and social security 1,999 9,762
Other creditors 521,111 751,513
523,110 761,275

Crimson Gate Limited (Registered number: 11795104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


8. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 134,835