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Company registration number:
00970572
Crayford Special Ventures Limited
Unaudited filleted financial statements
30 June 2024
Crayford Special Ventures Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Crayford Special Ventures Limited
Directors and other information
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Directors |
Mr A.M. Brooks |
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Mrs S B Brooks |
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Secretary |
Mrs S.B. Brooks |
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Company number |
00970572 |
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Registered office |
The Albion |
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4 Pier Hill |
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Tenby |
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SA70 7BS |
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Accountants |
Hardcastle Blake |
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19 New Road |
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Drayton Parslow |
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Milton Keynes |
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MK17 0JH |
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Crayford Special Ventures Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Crayford Special Ventures Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crayford Special Ventures Limited for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Crayford Special Ventures Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Crayford Special Ventures Limited and state those matters that we have agreed to state to the board of directors of Crayford Special Ventures Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crayford Special Ventures Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Crayford Special Ventures Limited 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 Crayford Special Ventures Limited. You consider that Crayford Special Ventures Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Crayford Special Ventures Limited. 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.
Hardcastle Blake
Chartered Accountants
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
20 March 2025
Crayford Special Ventures Limited
Statement of financial position
30 June 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Investments |
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5 |
762,602 |
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762,602 |
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_______ |
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_______ |
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762,602 |
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762,602 |
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Current assets |
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Stocks |
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9,000 |
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9,000 |
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Debtors |
|
6 |
12,228 |
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4,385 |
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Cash at bank and in hand |
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38,687 |
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59,694 |
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_______ |
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_______ |
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59,915 |
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73,079 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
12,133) |
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(
23,932) |
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_______ |
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_______ |
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Net current assets |
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47,782 |
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49,147 |
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_______ |
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_______ |
Total assets less current liabilities |
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810,384 |
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811,749 |
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_______ |
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_______ |
Net assets |
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810,384 |
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811,749 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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25,000 |
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25,000 |
Share premium account |
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53,125 |
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53,125 |
Profit and loss account |
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732,259 |
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733,624 |
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_______ |
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_______ |
Shareholders funds |
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810,384 |
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811,749 |
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_______ |
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_______ |
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For the 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.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 March 2025
, and are signed on behalf of the board by:
Mr A.M. Brooks
Director
Company registration number:
00970572
Crayford Special Ventures Limited
Notes to the financial statements
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Albion, 4 Pier Hill, Tenby, SA70 7BS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the rental of commercial property, net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets
.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Investments
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Shares in group undertakings and participating interests |
Other investments other than loans |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
102 |
762,500 |
762,602 |
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_______ |
_______ |
_______ |
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Impairment |
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At 1 July 2023 and 30 June 2024 |
- |
- |
- |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 30 June 2024 |
102 |
762,500 |
762,602 |
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_______ |
_______ |
_______ |
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At 30 June 2023 |
102 |
762,500 |
762,602 |
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_______ |
_______ |
_______ |
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Investments in group undertakings |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Crayford Cars Limited |
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The Albion, 4 Pier Hill, Tenby, SA70 7BS |
Ordinary |
100 |
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Albion Tenby Limited
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The Albion, 4 Pier Hill, Tenby, SA70 7BS |
Ordinary |
100 |
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6.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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580 |
580 |
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Amounts owed by group undertakings |
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7,002 |
- |
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Other debtors |
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4,646 |
3,805 |
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_______ |
_______ |
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12,228 |
4,385 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Amounts owed to group undertakings |
|
- |
10,893 |
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Corporation tax |
|
1,393 |
4,204 |
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Social security and other taxes |
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6,231 |
6,158 |
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Other creditors |
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4,509 |
2,677 |
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_______ |
_______ |
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12,133 |
23,932 |
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_______ |
_______ |
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8.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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2024 |
2023 |
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£ |
£ |
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|
Albion Tenby Limited (formerly Pembrokeshire Powerboats Limited) |
- |
(325,500) |
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_______ |
_______ |
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In the prior year the inter-company balance owed by the subsidiary company Albion Tenby Limited (formerly named Pembrokeshire Powerboats Limited) of £325,500 was formally waived by
Crayford Special Ventures Limited
.
9.
Controlling party
Mr A M Brooks - director has ultimate control of the company by virtue of his majority shareholding
.