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Unaudited Financial Statements
Crumlin Capital Limited
For the year ended 31 October 2024
Registered number: 09441327
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Company Information
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Contents
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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Crumlin Capital Limited
Registered number:09441327
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Statement of Financial Position
As at 31 October 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Page 1
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Crumlin Capital Limited
Registered number:09441327
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Statement of Financial Position (continued)
As at 31 October 2024
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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2025.
The notes on pages 4 to 8 form part of these financial statements.
Page 2
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Statement of Changes in Equity
For the year ended 31 October 2024
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Dividends received: Other comprehensive income
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Dividends paid: Other comprehensive income
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Dividends paid: Equity capital
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Shares issued during the year
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The notes on pages 4 to 8 form part of these financial statements.
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Statement of Changes in Equity
For the year ended 31 October 2023
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The notes on pages 4 to 8 form part of these financial statements.
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Page 3
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Notes to the Financial Statements
For the year ended 31 October 2024
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St. Andrew's House, Portsmouth Road, Esher, Essex, KT10 9TA.
The principal activity of the company is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£).
The following principal accounting policies have been applied:
The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Finance costs are charged to profit or loss 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.
Page 4
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Notes to the Financial Statements
For the year ended 31 October 2024
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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Associates and joint ventures
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Associates and Joint Ventures are held at cost less impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 5
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Notes to the Financial Statements
For the year ended 31 October 2024
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Carrying value of investments
Investment in associate undertakings is measured at cost less accumulated impairment. Where there is an indication of impairment the recoverable amount is estimated and compared with the carrying amount. The estimate of recoverable amount is considered in light of the trading and balance sheet strength of the subsidiary together with the director's best estimate of future performance of the subsidiary.
The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Investments in associates
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Page 6
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Notes to the Financial Statements
For the year ended 31 October 2024
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Amounts due from related parties
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts due to related parties
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Related party transactions
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At 31st October 2024, the company was owed £3,147,599 (2023: £3,147,559) by a director. There has been no transactions with the director during the current year.
During the year the company advanced net funds of £3,161,513 to entities related by virtue of common control. At 31 October 2024 the company was owed £9,306,098 by the related parties (2023: £6,144,585).
During the year the company received net funds of £4,105,985 from entities related by virtue of common control. At 31 October 2024 the company owed £17,167,130 to the related parties (2023: £13,061,145).
Page 7
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Notes to the Financial Statements
For the year ended 31 October 2024
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Allotted, called up and fully paid
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Nil (2023 - 1,900,019) Ordinary A shares of £0.000010 each
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Nil (2023 - 100,001) Ordinary B shares of £0.000010 each
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19,000,190 (2023 - Nil) Ordinary A shares of £0.000001 each
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1,000,010 (2023 - Nil) Ordinary B shares of £0.000001 each
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60,000,600 (2023 - Nil) Ordinary shares of £0.000001 each
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On 19th June 2024 the company subdivided 1,900,019 Ordinary A shares of £0.000010 each into 19,000,190 Ordinary A shares of £0.000001 each.
On 19th June 2024 the company subdivided 100,001 Ordinary B shares of £0.000010 each into 1,000,010 Ordinary B shares of £0.000001 each.
On 19th June 2024 the company issued 60,000,600 Ordinary shares of £0.000001 each.
Profit and loss account
Includes all current and prior period retained profits and losses.
The immediate parent company at the end of the current period is Keltbray Investments Limited, a company incorporated in the UK. The ultimate controlling party is Aqua Trustees Number 25 Limited, a company incorporated in the UK, by virtue of shareholding in the immediate parent Keltbray Investments Limited.
The company was previously under the control of Brendan Kerr Directors Trust.
Comparative information has been restated to conform with current year presentation. This has had no impact on profit or loss reported.
Page 8
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