Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30No description of principal activity2023-10-01false76truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10973151 2023-10-01 2024-09-30 10973151 2022-10-01 2023-09-30 10973151 2024-09-30 10973151 2023-09-30 10973151 c:Director1 2023-10-01 2024-09-30 10973151 c:Director2 2023-10-01 2024-09-30 10973151 c:Director3 2023-10-01 2024-09-30 10973151 c:RegisteredOffice 2023-10-01 2024-09-30 10973151 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 10973151 d:Buildings d:LongLeaseholdAssets 2024-09-30 10973151 d:Buildings d:LongLeaseholdAssets 2023-09-30 10973151 d:OfficeEquipment 2023-10-01 2024-09-30 10973151 d:OfficeEquipment 2024-09-30 10973151 d:OfficeEquipment 2023-09-30 10973151 d:CurrentFinancialInstruments 2024-09-30 10973151 d:CurrentFinancialInstruments 2023-09-30 10973151 d:Non-currentFinancialInstruments 2024-09-30 10973151 d:Non-currentFinancialInstruments 2023-09-30 10973151 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10973151 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10973151 d:ShareCapital 2024-09-30 10973151 d:ShareCapital 2023-09-30 10973151 d:RetainedEarningsAccumulatedLosses 2024-09-30 10973151 d:RetainedEarningsAccumulatedLosses 2023-09-30 10973151 c:FRS102 2023-10-01 2024-09-30 10973151 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10973151 c:FullAccounts 2023-10-01 2024-09-30 10973151 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10973151 2 2023-10-01 2024-09-30 10973151 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 10973151






CRESTON LTD
 
FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
CRESTON LTD
 

COMPANY INFORMATION


DIRECTORS
C. Lerner 
F. R. Lerner 
I. M. Lerner 




REGISTERED NUMBER
10973151



REGISTERED OFFICE
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BL





 
CRESTON LTD
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
CRESTON LTD
REGISTERED NUMBER: 10973151

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
15,979,482
13,299,883

CURRENT ASSETS
  

Debtors: amounts falling due after more than one year
 5 
33,314,294
33,314,294

Debtors: amounts falling due within one year
 5 
5,419,898
7,702,413

Cash at bank and in hand
  
3,779,888
3,985,613

  
42,514,080
45,002,320

Creditors: amounts falling due within one year
 6 
(7,763,669)
(7,526,781)

NET CURRENT ASSETS
  
 
 
34,750,411
 
 
37,475,539

  

NET ASSETS
  
50,729,893
50,775,422


CAPITAL AND RESERVES
  

Allotted, called up and fully paid share capital
  
44,000,010
44,000,010

Profit and loss account
  
6,729,883
6,775,412

EQUITY SHAREHOLDERS' FUNDS
  
50,729,893
50,775,422


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 Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 June 2025


I. M. Lerner
Director


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

 
CRESTON LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Creston Ltd (company number: 10973151), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL, is a private limited company incorporated in England and Wales.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.
Page 2

 
CRESTON LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33% 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 the Statement of Income and Retained Earnings.

 
2.5

FINANCE COSTS

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

TAXATION

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation 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.


 
2.7

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. 
Page 3

 
CRESTON LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

INTEREST INCOME

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.10

BORROWING COSTS

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.11

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.

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price.

  
2.13

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 debtors and creditors, loans from banks and other third parties, and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

 
2.14

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 4

 
CRESTON LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TANGIBLE FIXED ASSETS





Investment property
Office equipment
Total

£
£
£



COST


At 1 October 2023
13,299,883
1,726
13,301,609


Additions
2,679,599
-
2,679,599



At 30 September 2024

15,979,482
1,726
15,981,208



Depreciation


At 1 October 2023 and 30 September 2024
-
1,726
1,726



Net book value



At 30 September 2024
15,979,482
-
15,979,482



At 30 September 2023
13,299,883
-
13,299,883

Page 5

 
CRESTON LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


DEBTORS

2024
2023
£
£

Due after more than one year

Other debtors
33,314,294
33,314,294


2024
2023
£
£

Due within one year

Other debtors
4,725,462
7,097,262

Prepayments and accrued income
694,436
605,151

5,419,898
7,702,413



6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,116
1,110

Trade creditors
1,350
91,938

Corporation tax
49,693
208,599

Other taxation and social security
8,243
5,875

Other creditors
7,703,267
7,219,259

7,763,669
7,526,781



7.


PENSION COMMITMENTS

The Company operates a defined contribution pension plan in respect of its employees. The assets of the plan are held separately from those of the Company in an independently administered fund. The Company makes contributions to their personal pension plans. The pension costs represent contributions payable by the Company to these plans and amount to £2,486 (2023: £1,283).


8.


RELATED PARTY TRANSACTIONS

Included within other creditors are amounts due to the directors of £4,054,874 (2023: £7,219,259).
Included within other debtors due after more than one year are amounts due to related parties of £33,314,294 (2023: £33,314,294). These companies are related by common control.
Included within other debtors due within one year are amounts due to related parties of £878,051 
(2023: £1,628,051). These companies are related by common control.


Page 6