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Registered number: 09622003










CRESWELL PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
CRESWELL PROPERTIES LIMITED
REGISTERED NUMBER: 09622003

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,397,648
2,364,322

  
2,397,648
2,364,322

Current assets
  

Debtors: amounts falling due within one year
 5 
97,519
104,757

Cash at bank and in hand
  
132,741
169,020

  
230,260
273,777

Creditors: amounts falling due within one year
 6 
(209,107)
(190,138)

Net current assets
  
 
 
21,153
 
 
83,639

Total assets less current liabilities
  
2,418,801
2,447,961

Creditors: amounts falling due after more than one year
 7 
(2,235,293)
(2,228,828)

Provisions for liabilities
  

Deferred tax
  
(6,384)
(16,018)

  
 
 
(6,384)
 
 
(16,018)

Net assets
  
177,124
203,115


Capital and reserves
  

Called up share capital 
  
18
18

Revaluation reserve
  
192,823
189,917

Profit and loss account
  
(15,717)
13,180

  
177,124
203,115


Page 1

 
CRESWELL PROPERTIES LIMITED
REGISTERED NUMBER: 09622003
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 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.

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

The Company has opted not to file the statement of comprehensive income 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 by: 




Huw Mostyn Leach
Director

Date: 4 April 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CRESWELL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Creswell Properties Limited is a private company, limited by shares, registered in England and Wales. The company’s registered number 09622003 and registered office address is Creswell House, Fieldway, Heath, Cardiff, CF14 4UH.  

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 presentation currency of the financial statements is the Pound Sterling (£). 
Monetary amounts in these financial statements are rounded to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

Going concern

In preparing the fnancial statements, the director have considered the current financial position of the company and its likely future cashflows. 

The directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future. 

Accordingly they continue to adopt the going concern basis in preparing the financial statements. 

 
2.3

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:

Turnover relates to rental income and is recognised in the period to which it relates. 

  
2.4

Tangible fixed assets

Depreciation is provided at the the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided on the following basis : 

-         Plant and machinery       -   20% on cost 

  
2.5

Investment property

Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. 

Page 3

 
CRESWELL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
CRESWELL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Investment property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 July 2023
2,364,324
10,000
2,374,324


Additions
10,824
22,500
33,324



At 30 June 2024

2,375,148
32,500
2,407,648



Depreciation


At 1 July 2023
-
10,000
10,000



At 30 June 2024

-
10,000
10,000



Net book value



At 30 June 2024
2,375,148
22,500
2,397,648



At 30 June 2023
2,364,324
-
2,364,324

The directors have revalued the investment properties at open market value at the balance sheet date. 


5.


Debtors

2024
2023
£
£


Trade debtors
54,770
62,932

Other debtors
30,524
24,363

Prepayments and accrued income
12,225
17,462

97,519
104,757


Page 5

 
CRESWELL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
20,535
14,294

Trade creditors
1,740
724

Other taxation and social security
9,086
-

Accruals and deferred income
177,746
175,120

209,107
190,138



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,235,293
2,228,828

2,235,293
2,228,828


 
Page 6