Company registration number 12673970 (England and Wales)
CRG VENTURES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CRG VENTURES LTD
COMPANY INFORMATION
Director
Mr R Gibson
Company number
12673970
Registered office
1 Barnfield Crescent
Exeter
Devon
England
EX1 1QT
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
CRG VENTURES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CRG VENTURES LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
34,281
35,146
Current assets
Debtors
4
9,835
9,852
Cash at bank and in hand
-
0
3
9,835
9,855
Creditors: amounts falling due within one year
5
(59,685)
(57,054)
Net current liabilities
(49,850)
(47,199)
Net liabilities
(15,569)
(12,053)
Capital and reserves
Called up share capital
2
2
Retained earnings
(15,571)
(12,055)
Total equity
(15,569)
(12,053)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CRG VENTURES LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 May 2025
Mr R Gibson
Director
Company Registration No. 12673970
CRG VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

CRG Ventures Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Barnfield Crescent, Exeter, Devon, England, EX1 1QT.

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.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Whilst the majority of net assets relate to a loan to the director, they do not intend to draw on this loan and will continue to provide support to the company. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Freehold land and buildings
None
Plant and equipment
20% on reducing balance
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

CRG VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.4
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.5
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 income statement 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CRG VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
32,500
3,603
36,103
Depreciation and impairment
At 1 July 2023
-
0
956
956
Depreciation charged in the year
-
0
866
866
At 30 June 2024
-
0
1,822
1,822
Carrying amount
At 30 June 2024
32,500
1,781
34,281
At 30 June 2023
32,500
2,646
35,146
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
9,835
9,852
CRG VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
720
-
0
Other creditors
58,965
57,054
59,685
57,054
6
Related party transactions

Included in other creditors is a loan from the director of which interest has been charged at a commercial rate and there are no set terms of repayment.

2024-06-302023-07-01falsefalsefalse29 May 2025CCH SoftwareCCH Accounts Production 2025.100The principal activity in the year was that of letting and operating of own or leased real estate.
Mr R Gibson
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