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REGISTERED NUMBER: 01909656 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

CRESCENT MANAGEMENT SERVICES LIMITED

CRESCENT MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 01909656)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRESCENT MANAGEMENT SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A B Blasdale
N H Swimer





SECRETARY: N H Swimer





REGISTERED OFFICE: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ





REGISTERED NUMBER: 01909656 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ

CRESCENT MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 01909656)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 415,000 132,500

CURRENT ASSETS
Debtors 5 8,797 5,763
Cash at bank 6,290 4,287
15,087 10,050
CREDITORS
Amounts falling due within one year 6 23,547 24,782
NET CURRENT LIABILITIES (8,460 ) (14,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,540

117,768

PROVISIONS FOR LIABILITIES 89,144 18,519
NET ASSETS 317,396 99,249

CAPITAL AND RESERVES
Called up share capital 3 3
Fair value reserve 7 267,431 74,075
Retained earnings 49,962 25,171
317,396 99,249

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

CRESCENT MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 01909656)

Balance Sheet - continued
31 MARCH 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 4 November 2024 and were signed on its behalf by:




A B Blasdale - Director



N H Swimer - Director


CRESCENT MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 01909656)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Crescent Management Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is recognised from the unincorporated partnership of which the Company is a partner of. This comprises of rental income from investment property and is recognised in the profit or loss on a straight line basis over the lease term. Contingent rents, such as turnover rents, rent reviews and indexation, are recorded as income in the periods in which they are earned. Rent reviews are recognised when such reviews have been agreed with tenants. Surrender premiums receivable are recognised on completion of the surrender.

Where a rent free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earlier of the first break option or the lease termination date. Lease incentives and costs associated with entering into tenant leases are amortised over the period from the date of lease commencement to the earlier of the first break option or the lease termination date.

Property operating expenses are expensed as incurred and any property operating expenditure note recovered from tenants through service charges is charged to profit or loss.

Investment property
Investment property, which is property held ot earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the fair value reserve.

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.


CRESCENT MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 01909656)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Joint arrangement
The company has a 50% interest in an unincorporated entity known as Park House Bridge Estate. The company includes its share of any assets and liabilities and income and expenses of jointly controlled assets in accordance with the underlying contractual arrangement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 132,500
Revaluations 282,500
At 31 March 2024 415,000
NET BOOK VALUE
At 31 March 2024 415,000
At 31 March 2023 132,500

Investment property comprises of a 50% holding in the property known as Park House Bridge Estate. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors to show the open market value of the property.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 29,075
Valuation in 2018 45,000
Valuation in 2024 282,500
Cost 58,425
415,000

CRESCENT MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 01909656)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,797 5,671
Tax - 92
8,797 5,763

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 2,296 -
Directors' loan accounts 20,000 23,500
Accruals and deferred income 1,251 1,282
23,547 24,782

7. RESERVES
Fair
value
reserve
£   
At 1 April 2023 74,075
Revaluation 193,356

At 31 March 2024 267,431

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year, the company owed amounts of £23,500 to the directors. During the year the directors were repaid £3,500 (2023 - £nil) and provided further loans to the company amounting to £nil (2023 - £6,000). As at 31 March 2024, the company owed amounts to the directors totalling £20,000 (2023 - £23,500).