Company registration number 10396235 (England and Wales)
CRESCENT INDUSTRIAL HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CRESCENT INDUSTRIAL HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CRESCENT INDUSTRIAL HOLDINGS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
90,000
105,000
Investments
5
100
100
90,100
105,100
Current assets
Debtors
6
1,282,315
49,612
Cash at bank and in hand
609,316
1,184,459
1,891,631
1,234,071
Creditors: amounts falling due within one year
7
(231,837)
(24,508)
Net current assets
1,659,794
1,209,563
Total assets less current liabilities
1,749,894
1,314,663
Creditors: amounts falling due after more than one year
8
(368,133)
(251,215)
Net assets
1,381,761
1,063,448
Capital and reserves
Called up share capital
185
185
Share premium account
108,990
108,990
Capital redemption reserve
299,973
299,973
Profit and loss reserves
972,613
654,300
Total equity
1,381,761
1,063,448
CRESCENT INDUSTRIAL HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 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 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 Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
Mr S J Stacey
Director
Company registration number 10396235 (England and Wales)
CRESCENT INDUSTRIAL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Crescent Industrial Holdings Ltd is a private company limited by shares incorporated, registered and trading in England and Wales with company number 10396235. The registered office is 30 Berrington Road, Leamington Spa, Warwickshire, CV31 1NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Trademarks
10% straight line
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
CRESCENT INDUSTRIAL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
6
CRESCENT INDUSTRIAL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Intangible fixed assets
Trademarks
£
Cost
At 1 January 2024 and 31 December 2024
150,000
Amortisation and impairment
At 1 January 2024
45,000
Amortisation charged for the year
15,000
At 31 December 2024
60,000
Carrying amount
At 31 December 2024
90,000
At 31 December 2023
105,000
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Fixed asset investments not carried at market value
Investments in subsidiary undertakings are recognised and measured at cost.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
41,160
Other debtors
170,715
8,452
170,715
49,612
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
1,111,600
Total debtors
1,282,315
49,612
Debtors due in more than one year represent loans receivable.
The loan repayment terms vary by loan from 50 months to 120 months and no interest is charged,
Of the amount due in more than one year, £550,000 is due in more than five years.
CRESCENT INDUSTRIAL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
207,080
Taxation and social security
24,757
13,608
Other creditors
10,900
231,837
24,508
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
368,133
251,215
9
Related party transactions
Included in creditors due after more than one year are loans to the company totalling £368,133 (2023: £251,215). The loans have been made by shareholders of the company and by relatives of the directors - a market rate of interest is charged on the loans.