Registration number: 03672901

Crester Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 7

Crester Limited

Company Information

Directors

V Lutikov K Lutikov F N Read

Company secretary

V Lutikov

Registered office

4th Floor Malta House 36-38 Piccadilly London W1J 0DP

Auditor

Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue W1D 5AR

Crester Limited

Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	6	20,000,000	20,000,000
Current assets
Debtors	7	2,074,508	1,933,142
Cash at bank and in hand		1,302,595	1,192,488
		3,377,103	3,125,630
Creditors: Amounts falling due within one year	8	(9,125,757)	(9,167,564)
Net current liabilities		(5,748,654)	(6,041,934)
Total assets less current liabilities		14,251,346	13,958,066
Creditors: Amounts falling due after more than one year	8	(6,070,721)	(6,262,163)
Provisions for liabilities	5	(69,707)	(69,707)
Net assets		8,110,918	7,626,196
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		8,109,918	7,625,196
Total equity		8,110,918	7,626,196

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’.

The directors of Crester Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 21 November 2025 and signed on its behalf by:



 

.........................................

V Lutikov

Director

Company registration number: 03672901

Crester Limited

Notes to the Financial Statements for the Year Ended 31 March 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:
4th Floor
Malta House
36-38 Piccadilly
London
W1J 0DP

The principal activity of the company is that of property investment.

2	Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 21 November 2025 was Darren Bond, who signed for and on behalf of Brebners.

3	Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at the balance sheet date of £8,110,918 including cash at bank of £1,302,595. During the year the company made post tax profits and the directors believe that the company will generate further profits in the forthcoming year.

The company funds its working capital requirements through bank loans. No matters have been drawn to the attention of the directors to suggest that this funding will be withdrawn in the future.

The directors' have considered the potential long term effect of the current cost of living crisis and, although there is no certainty as to when this will end, the directors' view is that the impact will be manageable. The company has maintained its ability to collect rent in a timely manner from tenants of its investment property throughout the duration of the aforementioned issues. Taking this into account and also considering the relatively low and manageable expenses of the company and the resources available to the group, the directors believe that the company will be able to continue trading through difficult economic and worldwide events such as higher interest rates and the war in Ukraine which has caused higher than expected over heads.

On the basis of the above and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors will continue to adopt the going concern basis in preparing the financial statements.

Crester Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Other than those involving estimations there are no judgements that management have made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Investment property fair value

The company estimates the fair value of investment properties and to determine the value of any deferred tax provision arising from a fair value adjustment.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rents charged to tenants of the investment properties in the ordinary course of the company's activities on a time apportioned basis. Turnover includes adjustments for all lease incentives on a straight line basis.Turnover is shown net of value added tax.

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 the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers and the directors ("the valuers"). The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 and other 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.

Crester Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade and other 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.

Impairments

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4	Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

Crester Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

5

Taxation

Deferred tax

Deferred tax assets and liabilities

2025	Liability £
Revaluation of investment property	69,707