Registered number
12242013
Crew Property Services Ltd
Filleted Accounts
30 April 2024
Crew Property Services Ltd
Registered number: 12242013
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,060,079 1,046,422
Current assets
Stocks 171,892 -
Debtors 4 28,957 19,628
Cash at bank and in hand 4,106 5,929
204,955 25,557
Creditors: amounts falling due within one year 5 (263,134) (260,859)
Net current liabilities (58,179) (235,302)
Total assets less current liabilities 1,001,900 811,120
Creditors: amounts falling due after more than one year 6 (865,579) (667,477)
Provisions for liabilities - (28,874)
Net assets 136,321 114,769
Capital and reserves
Called up share capital 10 10
Revaluation reserve 8 14,874 -
Profit and loss account 121,437 114,759
Shareholders' funds 136,321 114,769
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S L Crew
Director
Approved by the board on 22 October 2024
Crew Property Services Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 1,040,000 4,314 8,994 1,053,308
Additions 4,655 - - 4,655
Surplus on revaluation 15,424 - - 15,424
Disposals - (4,314) (8,994) (13,308)
At 30 April 2024 1,060,079 - - 1,060,079
Depreciation
At 1 May 2023 - 2,266 4,620 6,886
On disposals - (2,266) (4,620) (6,886)
At 30 April 2024 - - - -
Net book value
At 30 April 2024 1,060,079 - - 1,060,079
At 30 April 2023 1,040,000 2,048 4,374 1,046,422
Freehold land and buildings: 2024 2023
£ £
Historical cost 796,557 796,557
Cumulative depreciation based on historical cost - -
796,557 796,557
4 Debtors 2024 2023
£ £
Trade debtors - 13,246
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 3,015
Deferred tax asset 5,971 -
Other debtors 22,986 3,367
28,957 19,628
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 378 7,091
Other creditors 262,756 253,768
263,134 260,859
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 865,579 667,477
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 865,579 667,477
The bank loans are secured on the freehold properties held by the company.
8 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 14,874 -
At 30 April 2024 14,874 -
9 Loans from directors
Description and conditions B/fwd Received Repaid C/fwd
£ £ £ £
Jonathan James Crew
Loan from director 102,711 8,202 110,913
Sarah Louise Crew
Loan from director 102,710 8,203 110,913
205,421 16,405 - 221,826
10 Controlling party
The company was under the control of the Directors throughout the period by virtue of them owning 100% of the issued share capital.
11 Other information
Crew Property Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton on Trent
Staffordshire
DE14 1DU
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