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Registration number: 03274573

Cresstone Limited

Annual Report and Financial Statements

for the Year Ended 30 November 2024

 

Cresstone Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Cresstone Limited

Company registration number: 03274573
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

411

514

Current assets

 

Debtors

5

266,077

444,800

Cash at bank and in hand

 

524,334

482,139

 

790,411

926,939

Creditors: Amounts falling due within one year

6

(230,399)

(411,037)

Net current assets

 

560,012

515,902

Total assets less current liabilities

 

560,423

516,416

Provisions for liabilities

(126)

(126)

Net assets

 

560,297

516,290

Capital and reserves

 

Called up share capital

100

100

Retained earnings

560,197

516,190

Shareholders' funds

 

560,297

516,290

 

Cresstone Limited

Company registration number: 03274573
Balance Sheet as at 30 November 2024 (continued)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 26 August 2025
 

Mrs R Livne
Company secretary and director

   
     
 

Cresstone Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
3 North Street
Oadby
LEICESTER
LE2 5AH

The principal place of business is:
50 Woodcroft Avenue
LONDON
NW7 2AG

These financial statements were authorised for issue by the director on 26 August 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.

 

Cresstone Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 November 2024 (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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.

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 balance sheet 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

Equipment

20% reducing balance

 

Cresstone Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 November 2024 (continued)

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 the director) during the year, was 2 (2023 - 2).

 

Cresstone Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 November 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2023

9,266

9,266

At 30 November 2024

9,266

9,266

Depreciation

At 1 December 2023

8,752

8,752

Charge for the year

103

103

At 30 November 2024

8,855

8,855

Carrying amount

At 30 November 2024

411

411

At 30 November 2023

514

514

5

Debtors

Current

2024
£

2023
£

Trade debtors

129,545

206,689

Other debtors

136,532

238,111

 

266,077

444,800

 

Cresstone Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 November 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

26,387

127,173

Taxation and social security

92,783

85,749

Other creditors

111,229

198,115

230,399

411,037