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Registered number: 10593177
A & D Crane Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10593177
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 41,544 34,858
Investment Properties 5 5,936,095 5,936,095
5,977,639 5,970,953
CURRENT ASSETS
Debtors 6 203,719 9,374
Cash at bank and in hand 30,178 318,477
233,897 327,851
Creditors: Amounts Falling Due Within One Year 7 (76,707 ) (70,731 )
NET CURRENT ASSETS (LIABILITIES) 157,190 257,120
TOTAL ASSETS LESS CURRENT LIABILITIES 6,134,829 6,228,073
Creditors: Amounts Falling Due After More Than One Year 8 (1,496,368 ) (1,497,120 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (240,901 ) (239,510 )
NET ASSETS 4,397,560 4,491,443
CAPITAL AND RESERVES
Called up share capital 9 99 99
Revaluation reserve 11 3,474,674 3,474,674
Income Statement 922,787 1,016,670
SHAREHOLDERS' FUNDS 4,397,560 4,491,443
Page 1
Page 2
For the year ending 31 March 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
D R Crane
Director
29/07/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
A & D Crane Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10593177 . The registered office is 1 Dukes Passage, Brighton, East Sussex, BN1 1BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 16,291 30,625 10,672 3,560 61,148
Additions - 36,384 - - 36,384
Disposals - (30,266 ) - - (30,266 )
As at 31 March 2024 16,291 36,743 10,672 3,560 67,266
Depreciation
As at 1 April 2023 7,030 13,398 4,475 1,387 26,290
Provided during the period 1,852 9,147 1,239 435 12,673
Disposals - (13,241 ) - - (13,241 )
As at 31 March 2024 8,882 9,304 5,714 1,822 25,722
Net Book Value
As at 31 March 2024 7,409 27,439 4,958 1,738 41,544
As at 1 April 2023 9,261 17,227 6,197 2,173 34,858
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 5,936,095
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 4,651,610 4,651,610
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,920 5,352
Other debtors - 4,022
Directors' loan accounts 150,878 -
152,798 9,374
Due after more than one year
Corporation tax recoverable assets 50,921 -
50,921 -
203,719 9,374
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,085 2,525
Corporation tax 51,781 39,075
Other creditors 1,463 1,007
Accruals and deferred income 16,173 19,373
Directors' loan accounts 5,205 8,751
76,707 70,731
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,496,368 1,497,120
1,496,368 1,497,120
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 99 99
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Darren Crane - 150,878 - - 150,878
The above loan is unsecured and repayable on demand.
11. Reserves
Revaluation Reserve
£
As at 1 April 2023 3,474,674
As at 31 March 2024 3,474,674
12. Ultimate Controlling Party
The company's controlling party is A &  D Crane Properties Holdings Limited by virtue of ownership of 100% of the issued share capital in the company.
The ultimate controlling party is Mr D R Crane.
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