Company Registration No. 10898309 (England and Wales)
Cramp Investments Ltd
Unaudited accounts
for the year ended 31 August 2024
Cramp Investments Ltd
Unaudited accounts
Contents
Cramp Investments Ltd
Company Information
for the year ended 31 August 2024
Directors
Colin Charles Cramp
Margaret Pearson Cramp
Secretary
Hannah Louise Cramp
Company Number
10898309 (England and Wales)
Registered Office
69 Barons Keep
Gliddon Road
London
W14 9AU
England
Accountants
Hobart Crest
Registered Office
124 City Road
London
EC1V 2NX
Cramp Investments Ltd
Statement of financial position
as at 31 August 2024
Investment property
218,418
218,418
Cash at bank and in hand
16,685
14,975
Creditors: amounts falling due within one year
(20,742)
(19,095)
Net current assets
79,816
80,268
Total assets less current liabilities
298,778
299,341
Creditors: amounts falling due after more than one year
(266,770)
(266,755)
Called up share capital
100
100
Profit and loss account
31,908
32,486
Shareholders' funds
32,008
32,586
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by
Colin Charles Cramp
Director
Company Registration No. 10898309
Cramp Investments Ltd
Notes to the Accounts
for the year ended 31 August 2024
Cramp Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 10898309. The registered office is 69 Barons Keep, Gliddon Road, London, W14 9AU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The financial statements of the Company have been prepared on a going concern basis. The directors have assessed the Company's financial position and continue to take all reasonable steps to ensure the continuity of its operations for the foreseeable future. They remain confident in the Company's ability to meet its liabilities as they fall due and continue to operate within its available financial resources.
The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies that may have had a significant effect on the amounts recognised in the financial statements.
Investment property is carried at fair value, derived from current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Alternatively, the investment property could also be held under the historical cost model. Once either model is adopted, it will be used consistently for all properties.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Cramp Investments Ltd
Notes to the Accounts
for the year ended 31 August 2024
Interest-bearing borrowings are initially recorded at fair value, net of transaction cost. Interest-bearing borrowings are subsequently carried at amotised cost, with the difference between proceeds, net of transaction cots, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the following relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight line method with an estimated useful life of 5 years
4
Tangible fixed assets
Computer equipment
Fair value at 1 September 2023
218,418
The fair value of investment property as at 31 August 2024 was £218,418 and the historical cost as at 31 August 2024 was £218,418. There has been no revaluation of the investment property by an independent valuer.
Amounts falling due within one year
Other debtors
82,404
82,740
Cramp Investments Ltd
Notes to the Accounts
for the year ended 31 August 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,574
5,574
Other creditors
13,638
13,021
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
149,730
149,715
Loans from directors
117,040
117,040
Bank borrowings are secured on the Investment property(ies) by way of fixed charge
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Amounts owed from / (to) the Director
(58,520)
-
-
(58,520)
Amounts owed from / (to) the Director
(58,520)
-
-
(58,520)
The company is controlled by its directors Mr Colin Charles CRAMP and Mrs Margaret Pearson CRAMP
12
Average number of employees
During the year the average number of employees was 0 (2023: 0).