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Registered number: 06705661





 
Crestwood UK Limited          
 
Financial statements          

For the year ended 31 December 2024          

 
Crestwood UK Limited
Registered number:06705661

Balance sheet
As at 31 December 2024


2024

2023
                                                                                  Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
14,410
16,860

Current assets
  

Debtors
 5 
94,221
464,875

Cash at bank and in hand
 6 
81,869
105,943

  
176,090
570,818

Creditors: amounts falling due within one year
 7 
(80,244)
(458,236)

Net current assets
  
 
 
95,846
 
 
112,582

  

Net assets
  
110,256
129,442


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
109,256
128,442

  
110,256
129,442


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 1 May 2025.




J Bust
Director



The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
Crestwood UK Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Crestwood UK Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Crestwood House, 52 High Street, St Martins, Stamford, PE9 2LG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
Crestwood UK Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a reducing balance or straight line basis.

Depreciation is provided at the following rates:

Leasehold improvements
-
10 years straight line
Plant and machinery
-
50% reducing balance
Motor vehicles
-
3 years straight line
Computer equipment
-
2 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
Page 3

 
Crestwood UK Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Page 4

 
Crestwood UK Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.7

Creditors

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


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£



Cost


At 1 January 2024
163,870
110,598
21,916
92,351
388,735



At 31 December 2024

163,870
110,598
21,916
92,351
388,735



Depreciation


At 1 January 2024
147,301
110,307
21,916
92,351
371,875


Charge for the year
2,303
146
-
-
2,449



At 31 December 2024

149,604
110,453
21,916
92,351
374,324



Net book value



At 31 December 2024
14,266
145
-
-
14,411



At 31 December 2023
16,569
291
-
-
16,860

Page 5

 
Crestwood UK Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
11,079
460,398

Prepayments
83,142
4,477

94,221
464,875



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
81,869
105,943



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
82
455,936

Accruals and deferred income
80,162
2,300

80,244
458,236



8.


Controlling party

The company's ultimate controlling party at 31 December 2024 was Crestwood Holdings Limited.

Page 6