Registered number
01585768
Crispfine Limited
Filleted Accounts
31 October 2024
Crispfine Limited
Registered number: 01585768
Balance Sheet
as at 31 October 2024
Notes 2024 2023
Fixed assets
Tangible assets 3 842,703 930,292
Current assets
Stocks 380,163 372,003
Debtors 4 254,876 252,458
Cash at bank and in hand 296,314 129,432
931,353 753,893
Creditors: amounts falling due within one year 5 (78,241) (172,175)
Net current assets 853,112 581,718
Net assets 1,695,815 1,512,010
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 1,645,815 1,462,010
Shareholders' funds 1,695,815 1,512,010
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Stoddard
Director
Approved by the board on 25 July 2025
Crispfine Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 25% reducing balance of cost
Motor vehicles 25% reducing balance of cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Grant income
Capital and revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
Cost
At 1 November 2023 1,072,615 17,438 22,649 1,112,702
Disposals (78,869) - - (78,869)
At 31 October 2024 993,746 17,438 22,649 1,033,833
Depreciation
At 1 November 2023 147,616 15,167 19,627 182,410
Charge for the year 17,224 568 756 18,548
On disposals (9,828) - - (9,828)
At 31 October 2024 155,012 15,735 20,383 191,130
Net book value
At 31 October 2024 838,734 1,703 2,266 842,703
At 31 October 2023 924,999 2,271 3,022 930,292
4 Debtors 2024 2023
Trade debtors 17,843 17,843
Amounts owed by group undertakings and undertakings in which the company has a participating interest 57,941 57,941
Other debtors 179,092 176,674
254,876 252,458
5 Creditors: amounts falling due within one year 2024 2023
Trade creditors 5,702 2,540
Taxation and social security costs 3,712 3,520
Other creditors 68,827 166,115
78,241 172,175
6 Other financial commitments 2024 2023
Total future minimum payments under non-cancellable operating leases 11,652 11,652
7 Controlling party
The company is a subsidiary of Douglas Quay Group Limited whose registered office is that of the company. The directors consider that there is no individual controlling party.
8 Other information
Crispfine Limited is a private company limited by shares and incorporated in England. Its registered office is:
Callywhite Lane
Dronfield
Sheffield
South Yorkshire
S18 2XP
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