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Registration number: 01306101

Crescentworth Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Crescentworth Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Crescentworth Limited

Company Information

Directors

Mr DL Lindsell

Mr JM Lindsell

Mr CT Lindsell

Company secretary

Mr CT Lindsell

Registered office

7 Princess Avenue
Bognor Regis
West Sussex
PO21 2QT

Accountants

Matthews Hanton Limited
Chartered Certified Accountants93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

Crescentworth Limited

(Registration number: 01306101)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,172,034

1,174,065

Current assets

 

Stocks

5

2,000

2,000

Debtors

6

172,259

180,092

Cash at bank and in hand

 

451,457

470,921

 

625,716

653,013

Creditors: Amounts falling due within one year

7

(78,388)

(132,213)

Net current assets

 

547,328

520,800

Total assets less current liabilities

 

1,719,362

1,694,865

Creditors: Amounts falling due after more than one year

7

(307,550)

(300,050)

Provisions for liabilities

(86,812)

(87,392)

Net assets

 

1,325,000

1,307,423

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

80,093

80,093

Retained earnings

1,244,807

1,227,230

Shareholders' funds

 

1,325,000

1,307,423

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 July 2025 and signed on its behalf by:
 

.........................................
Mr JM Lindsell
Director

 

Crescentworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Princess Avenue
Bognor Regis
West Sussex
PO21 2QT
England

These financial statements were authorised for issue by the Board on 15 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Crescentworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold

not provided

Fixtures and fittings

15% reducing balance

Office equipment

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Crescentworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2024 - 33).

 

Crescentworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

1,259,539

406,280

1,665,819

At 28 February 2025

1,259,539

406,280

1,665,819

Depreciation

At 1 March 2024

99,016

392,738

491,754

Charge for the year

-

2,031

2,031

At 28 February 2025

99,016

394,769

493,785

Carrying amount

At 28 February 2025

1,160,523

11,511

1,172,034

At 29 February 2024

1,160,523

13,542

1,174,065

Included within the net book value of land and buildings above is £1,160,523 (2024 - £1,160,523) in respect of long leasehold land and buildings.
 

5

Stocks

2025
£

2024
£

Other inventories

2,000

2,000

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

3,276

9,451

Amounts owed by related parties

9

150,000

150,000

Prepayments

 

18,983

20,641

   

172,259

180,092

 

Crescentworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

19,899

36,025

Taxation and social security

13,428

30,449

Accruals and deferred income

4,750

4,750

Other creditors

40,311

60,989

78,388

132,213

Creditors: amounts falling due after more than one year

2025
£

2024
£

Due after one year

Other financial liabilities

307,550

300,050

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Crescentworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

18,400

110,820

Contributions paid to money purchase schemes

40,000

-

58,400

110,820

Summary of transactions with parent

The company is wholly owned by Boundworth Limited, a company under the control of the directors of Crescentworth Limited. During the year, the company was charged £7,500 (2024: £nil) for management fees by the parent company.
At the year end, the company owed £307,550 (2024: £300,050) to Boundworth Limited.

Summary of transactions with all entities with joint control or significant interest

Lindsell Properties Limited is a company under common control. The company loaned £nil (2024: £nil) to Lindsell Properties Limited. The balance outstanding at the year end is £150,000 (2024: £150,000).

Summary of transactions with other related parties

The Lindsell Trust was established to provide retirement benefits for the Lindsell family. During the year, the company made pension contributions of £40,000 (2024: £nil) which were paid into the Lindsell Trust.

10

Parent and ultimate parent undertaking

The company's immediate parent is Boundworth Limited, incorporated in England and Wales.

 The ultimate controlling party is Mr C T Lindsell by virtue of his 75% holding of the issued share capital in Boundworth Limited..