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REGISTERED NUMBER: 06899487 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

CRESAIR LIMITED

CRESAIR LIMITED (REGISTERED NUMBER: 06899487)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRESAIR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: A M Hartley
V E Hartley





REGISTERED OFFICE: First Floor
Unit 4
Broadfield Court
Sheffield
South Yorkshire
S8 0XF





REGISTERED NUMBER: 06899487 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

CRESAIR LIMITED (REGISTERED NUMBER: 06899487)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 102
Investment property 5 1,100,000 1,100,000
1,100,000 1,100,102

CURRENT ASSETS
Debtors 6 30,723 40,800
Cash at bank 5,053 12,539
35,776 53,339
CREDITORS
Amounts falling due within one year 7 446,983 510,103
NET CURRENT LIABILITIES (411,207 ) (456,764 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

688,793

643,338

PROVISIONS FOR LIABILITIES 25,924 25,924
NET ASSETS 662,869 617,414

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 268,226 268,226
Retained earnings 394,543 349,088
SHAREHOLDERS' FUNDS 662,869 617,414

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

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

CRESAIR LIMITED (REGISTERED NUMBER: 06899487)

BALANCE SHEET - continued
31 MAY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





A M Hartley - Director


CRESAIR LIMITED (REGISTERED NUMBER: 06899487)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Cresair 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The Directors have made key assumptions in the determination of the fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. The valuation of the property at the reporting date is stated in the notes of the accounts.

Turnover
Turnover consists of rental income receivable on property investments in the United Kingdom, exclusive of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investment property
Investment property is shown at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

CRESAIR LIMITED (REGISTERED NUMBER: 06899487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 1,007
DEPRECIATION
At 1 June 2023 905
Charge for year 102
At 31 May 2024 1,007
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 102

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,100,000
NET BOOK VALUE
At 31 May 2024 1,100,000
At 31 May 2023 1,100,000

The investment property was valued at the balance sheet date by the directors of the company who are not professionally qualified valuers. The fair value has been determined by reference to market factors including evidence of transaction prices for similar property in the location where the property is situated.

This class of assets has a current value of £1,100,000 (2023 - £1,100,000) and a carrying amount at historical cost of £805,850 (2023 - £805,850). The depreciation on this historical cost is £nil (2023 - £nil).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 30,723 40,800

CRESAIR LIMITED (REGISTERED NUMBER: 06899487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 32 1,459
Taxation and social security 19,315 16,010
Other creditors 427,636 492,634
446,983 510,103

Other creditors includes £420,963 for directors' loans (2023 - £483,015).

8. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 268,226