| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| Crowswood Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| Crowswood Limited |
| Crowswood Limited (Registered number: 04415570) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Crowswood Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Foresters Hall |
| 25/27 Westow Street |
| Upper Norwood |
| London |
| SE19 3RY |
| Crowswood Limited (Registered number: 04415570) |
| Abridged Balance Sheet |
| 30 September 2024 |
| 30/9/24 | 30/9/23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Crowswood Limited (Registered number: 04415570) |
| Abridged Balance Sheet - continued |
| 30 September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Crowswood Limited (Registered number: 04415570) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Crowswood Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the balance sheet date the company's total liabilities exceeded its total assets by £409,540.. Of the company's total liabilities at the balance sheet date £7,422,436 related to amounts owed to undertakings in the Hollybrook (UK) Ltd group of companies the boards of which have indicated that it is currently intended that the loans should continue to remain available to the company for the foreseeable future. |
| Given the above, the directors of Crowswood Limited consider that the company has adequate resources to settle its debts as they fall due and therefore continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of these financial statements requires the directors to note judgements and estimates that affect the reported amount of assets and liabilities at the balance sheet date and the reported profits for the financial year. |
| Accounting standards require the directors to state the carrying amount of land under construction at the lower of cost and net realisable value. Determing the net realisable value involves estimating the eventual sales proceeds and additional costs to complete of sites under development which may differ nfrom the actual sales proceeds received and the actual total additional costs incurred to complete the development. |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Investment property |
| Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. |
| Crowswood Limited (Registered number: 04415570) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other creditors and, loans from banks and other third parties. |
| Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of cash consideration expected to be paid or received. |
| Debt instruments which are payable or receivable after more than one year are initially measured at the fair value of the cash consideration and thereafter at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the period relates to current tax which is recognised in the Income Statement. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Bank loans |
| The company's bank borrowings are secured by fixed charges over its investment properties. |
| Crowswood Limited (Registered number: 04415570) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/9/24 | 30/9/23 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 7. | RELATED PARTY DISCLOSURES |
| The company is party to a £10.262m financing facility as a joint borrower with other entities, variously controlled by its parent undertaking; the company's directors and; their close family, in relation to which the company's liability under the facility is joint and several with those entities. |
| 8. | ULTIMATE PARENT |
| The company is a wholly owned subsidiary undertaking of Hollybrook (UK) Ltd, incorporated in England. |