Company Registration No. 00848356 (England and Wales)
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Unaudited Financial Statements
For The Year Ended 28 February 2025
Pages For Filing With Registrar
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Company Information
Director
L. Denoff
Secretary
P. Gunby
Company number
00848356
Registered office
118-120 Cranbrook Road
Ilford
IG1 4LZ.
Accountants
Nicholas Hall Accounting Limited,
7, Johnston Road,
Woodford Green,
Essex,
IG8 0XA
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Contents
Page
Accountants' Report
1
Balance Sheet
2
Notes To The Financial Statements
3 - 6
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of Cranfield Court (Woodford Green) Limited For The Year Ended 28 February 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cranfield Court (Woodford Green) Limited for the year ended 28 February 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Cranfield Court (Woodford Green) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cranfield Court (Woodford Green) Limited and state those matters that we have agreed to state to the Board of Directors of Cranfield Court (Woodford Green) Limited, as a body, in this report in accordance with technical guidelines. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cranfield Court (Woodford Green) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Cranfield Court (Woodford Green) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Cranfield Court (Woodford Green) Limited. You consider that Cranfield Court (Woodford Green) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cranfield Court (Woodford Green) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Nicholas Hall Accounting Limited
____________________________
Nicholas Hall Accounting Limited
7, Johnston Road,
Woodford Green,
Essex,
IG8 0XA
16 July 2025
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Balance Sheet
As At 28 February 2025
- 2 -
2025
2024
As Restated
Notes
£
£
£
£
Fixed assets
Tangible Assets
3
2,500
2,500
Capital and reserves
Called Up Share Capital
4
2,500
2,500

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of filleted financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 16 July 2025 and are signed on its behalf by:
L. Denoff
_______________________
L. Denoff
Director
Company Registration No. 00848356
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Notes To The Financial Statements
For The Year Ended 28 February 2025
- 3 -
1
Accounting policies
Company information

Cranfield Court (Woodford Green) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 118-120 Cranbrook Road Ilford IG1 4LZ

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Land And Buildings
- No Depreciation Is Provided

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

CRANFIELD COURT (WOODFORD GREEN) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including Creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2024 - 3).

CRANFIELD COURT (WOODFORD GREEN) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
- 5 -
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 29 February 2024 And 28 February 2025
2,500
Depreciation and impairment
At 29 February 2024 And 28 February 2025
-
0
Carrying amount
At 28 February 2025
2,500
At 28 February 2024
2,500
4
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
2,500 Ordinary shares of £1 each
2,500
2,500
CRANFIELD COURT (WOODFORD GREEN) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2025
- 6 -
5
Prior period adjustment

The company has decided to follow the best practice guidance on residential service charge accounts issued by the Institute of Charted Accountants (ICAEW) in consultation and the Association of Residential Managing Agents (ARMA).

 

Service charges collected are held on trust for the purposes of meeting the costs relevant to the maintenance of the common parts in accordance with the lease and are subject to the provisions of section 42 of the Landlord and Tenant Act 1987. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of annual accounts of the company and are not filed at Companies House. All service charge monies received from the residents of Cranfield Court are held on trust for the residents.

 

The company had, prior to 1 March 2024, accounted for all service charges and related costs in the company accounts as filed with Companies House. As service charges will in future be accounted for in separate statements to the company accounts, this represents a change in accounting policy under Financial Reporting Standard Three. The effect of this change has been illustrated by a Prior Year Adjustment which is shown below.

 

From 1 May 2024 onwards, the service charges have been managed by B Bailey Property Management Ltd.

 

In order to show meaningful comparatives, all assets and liabilities relating to service charges and relevant costs have been removed from the accounts. The adjustments made to effect these changes are as follows.

Changes to the balance sheet
At 28 February 2024
As Previously Reported
Adjustment
As Restated
£
£
£
Creditors due within one year
Loans And Overdrafts
7,672
(7,672)
-
0
Other Creditors
(575)
575
-
0
Net Assets
9,597
(7,097)
2,500
Capital and reserves
Own  Shares Reserve
486
(486)
-
0
Profit And Loss
6,611
(6,611)
-
0
Total Equity
9,597
(7,097)
2,500
Changes to the profit and loss account
Period Ended 28 February 2024
As Previously Reported
Adjustment
As Restated
£
£
£
Turnover
19,508
(19,508)
-
Administrative Expenses
(15,630)
15,630
-
0
Profit After Taxation
3,878
(3,878)
-
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