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Registration number: 06293158

Crusty Investment Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Crusty Investment Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Crusty Investment Company Limited

Company Information

Director

Mrs J Kippax

Company secretary

Mr J M Kippax

Registered office

11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Crusty Investment Company Limited

(Registration number: 06293158)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

3,434,670

3,114,011

Current assets

 

Cash at bank and in hand

 

173,492

100,549

Creditors: Amounts falling due within one year

5

(4,800)

(4,800)

Net current assets

 

168,692

95,749

Total assets less current liabilities

 

3,603,362

3,209,760

Provisions for liabilities

(215,380)

(126,910)

Net assets

 

3,387,982

3,082,850

Capital and reserves

 

Called up share capital

5,000

5,000

Share premium reserve

420,605

420,605

Revaluation reserve

861,521

507,638

Retained earnings

2,100,856

2,149,607

Shareholders' funds

 

3,387,982

3,082,850

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2025
 

.........................................
Mrs J Kippax
Director

 

Crusty Investment Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Investment income
Income arising from investments is comprised of interest receivable and dividends received. Interest receivable is recognised in the period that it is incurred and dividends are recognised when received.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Crusty Investment Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measued initially and fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Crusty Investment Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Cost or valuation

At 1 July 2023

3,114,011

Fair value adjustments

353,883

Additions

244,893

Disposals

(278,117)

At 30 June 2024

3,434,670

Impairment

Carrying amount

At 30 June 2024

3,434,670

The original cost of the listed investments as at 30 June 2024 was £2,582,610 (2023: £2,597,652).

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other creditors

 

4,800

4,800