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Registered Number: 08017139
England and Wales

 

 

 

CRESCENT PARTNERS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors S A K Siddiqkhan
A A Mohammed Ali
Registered Number 08017139
Registered Office 4 - 5 Angel Row
Nottingham
NG1 6HL
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 April 2024.
Principal activities
Principal activity of the company during the financial year was of fast food restaurant and take away.
Directors
The directors who served the company throughout the year were as follows:
S A K Siddiqkhan
A A Mohammed Ali
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
S A K Siddiqkhan
Director

Date approved: 31 January 2025
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crescent Partners Ltd for the period ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.
This report is made solely to the director of Crescent Partners Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crescent Partners Ltd and state those matters that we have agreed to state to the director of Crescent Partners Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Crescent Partners Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crescent Partners Ltd. You consider that Crescent Partners Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Crescent Partners Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
Companies999
Suite2A Blackthorn House
St Pauls Square
Birmingham
B3 1RL
31 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 12,470    17,717 
12,470    17,717 
Current assets      
Stocks 5 4,032    4,436 
Debtors 6 152,500    172,287 
Cash at bank and in hand 4,561    4,689 
161,093    181,412 
Creditors: amount falling due within one year 7 (172,550)   (155,978)
Net current assets (11,457)   25,434 
 
Total assets less current liabilities 1,013    43,151 
Creditors: amount falling due after more than one year 8 (143,844)   (175,957)
Provisions for liabilities 9 28,041    27,105 
Net assets (114,790)   (105,701)
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account (114,890)   (105,801)
Shareholders' funds (114,790)   (105,701)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 January 2025 and were signed on its behalf by:


-------------------------------
S A K Siddiqkhan
Director
4
General Information
Crescent Partners Ltd is a private company, limited by shares, registered in England and Wales, registration number 08017139, registration address 4 - 5 Angel Row, Nottingham, NG1 6HL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis over the period of the lease.
Taxation
Taxation for the period 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 taxation
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 period 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 future taxable profits.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to Property 10% Straight Line
Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 33% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 22 (2023 : 31).
3.

Intangible fixed assets

Cost Patents   Total
  £   £
At 01 May 2023 5,000    5,000 
Additions  
Disposals (5,000)   (5,000)
At 30 April 2024  
Amortisation
At 01 May 2023 5,000    5,000 
Charge for year  
On disposals (5,000)   (5,000)
At 30 April 2024  
Net book values
At 30 April 2024  
At 30 April 2023  


4.

Tangible fixed assets

Cost or valuation Improvements to Property   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 May 2023 95,645    71,149    3,750    3,059    173,603 
Additions   362        362 
Disposals (94,145)   (46,023)   (3,750)     (143,918)
At 30 April 2024 1,500    25,488      3,059    30,047 
Depreciation
At 01 May 2023 94,345    55,992    3,750    1,799    155,886 
Charge for year 150    5,043      416    5,609 
On disposals (94,145)   (46,023)   (3,750)     (143,918)
At 30 April 2024 350    15,012      2,215    17,577 
Net book values
Closing balance as at 30 April 2024 1,150    10,476      844    12,470 
Opening balance as at 01 May 2023 1,300    15,157      1,260    17,717 


5.

Stocks

2024
£
  2023
£
Stocks 4,032    4,436 
4,032    4,436 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 5,417    729 
Prepayments & Accrued Income 5,619    13,364 
Other Debtors 133,009    142,809 
144,045    156,902 

6.

Debtors: amounts falling due after one year

2024
£
  2023
£
Directors' Loan Accounts 8,455    15,385 
8,455    15,385 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 78,238    48,805 
Corporation Tax 2,025    57,653 
PAYE & Social Security 1,889    2,629 
Accrued Expenses 1,999    8,987 
Other Creditors (1)   746 
Wages & Salaries Control Account 21,371    21,431 
Corporation Tax Prior Year Adjustment 51,376   
VAT 15,653    15,727 
172,550    155,978 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 143,844    175,957 
143,844    175,957 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax (28,762)   (27,105)
Pension Provisions 721   
(28,041)   (27,105)

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

11.

Advances and Credits



A A Mohammed Ali


S A K Siddiq Khan


Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
A A Mohammed Ali9,001 9,001 
S A K Siddiq Khan6,384 3,000 9,384 
15385300009001009384
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
A A Mohammed Ali9,001 9,001 
S A K Siddiq Khan6,384 6,384 
015385000015385
12.

Leasing Agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

Leasing Agreements   30.04.24
£
  30.04.23
£
Within one year 32,500  32,500 
Between one and five years 56,875  89,375 
In more than five years

13.

Related Party Disclosures

Messrs S A K Siddiqkhan and A A Mohammed Ali are the directors and shareholders of Heavenly Nottingham Ltd (Company No: 13731595). Crescent Partners Ltd has loaned monies to Heavenly Nottingham Ltd in the financial year. As at the balance sheet date, Heavenly Nottingham Ltd owes £15,500 to Crescent Partners Ltd.

Messrs S A K Siddiqkhan and A A Mohammed Ali are the directors and shareholders of CSK Ltd (Company No: 13925499). Crescent Partners Ltd has loaned monies to Crescent Partners 2 Ltd in the financial year. As at the balance sheet date, CSK Ltd owes £62,792 to Crescent Partners Ltd.

Messrs S A K Siddiqkhan and A A Mohammed Ali are the directors and shareholders of Heavenly Bradford Ltd (Company No: 13737676). Crescent Partners Ltd has loaned monies to Heavenly Nottingham Ltd in the financial year. As at the balance sheet date, Heavenly Bradford Ltd owes £35,000 to Crescent Partners Ltd.


14.

Ultimate Controlling Party

There is no ultimate controlling party since each of the shareholders owns 50% of the issued share capital.
5