Company registration number 03851126 (England and Wales)
CRENNS PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
CRENNS PROPERTIES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
CRENNS PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,805
6,407
Investment property
4
14,497,479
13,790,466
Investments
5
51
1
14,502,335
13,796,874
Current assets
Debtors
6
385,539
225,330
Investments
7
88
127,430
Cash at bank and in hand
244,131
265,500
629,758
618,260
Creditors: amounts falling due within one year
8
(169,770)
(498,215)
Net current assets
459,988
120,045
Total assets less current liabilities
14,962,323
13,916,919
Creditors: amounts falling due after more than one year
9
(10,932,656)
(9,505,101)
Net assets
4,029,667
4,411,818
Capital and reserves
Called up share capital
75,000
4,983,820
Non-distributable profits reserve
(1,244,636)
(1,170,792)
Distributable profit and loss reserves
5,199,303
598,790
Total equity
4,029,667
4,411,818
CRENNS PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 November 2025 and are signed on its behalf by:
Mr M R R Rebuck
Director
Company registration number 03851126 (England and Wales)
CRENNS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Crenns Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 31 Kentish Town Road, Camden Town, London, NW1 8NL.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors believe that the company will generate sufficient funds from its property investment income and by control of expenses to enable it to meet its obligations as and when they fall due. At the year end and date of approval of the financial statements, the company is within its borrowing facilities and has complied with the bank covenants. The directors therefore consider it appropriate to prepare financial statements on a going concern basis.

1.3
Turnover

Turnover represents property rental income receivable for the year in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
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:

Fixtures and fittings
33% on cost
Motor vehicles
25% reducing balance

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.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

CRENNS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
CRENNS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
64,773
28,066
92,839
Depreciation and impairment
At 1 April 2024
64,773
21,659
86,432
Depreciation charged in the year
-
0
1,602
1,602
At 31 March 2025
64,773
23,261
88,034
Carrying amount
At 31 March 2025
-
0
4,805
4,805
At 31 March 2024
-
0
6,407
6,407
4
Investment property
2025
£
Fair value
At 1 April 2024
13,790,466
Additions
1,177,683
Disposals
(470,670)
At 31 March 2025
14,497,479

In the opinion of the directors the market value of the investment properties at 31 March 2025 is £14,497,479 (2024: £13,790,466).

5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1
1
Other investments other than loans
50
-
0
51
1
CRENNS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2024
1
-
1
Additions
-
50
50
At 31 March 2025
1
50
51
Carrying amount
At 31 March 2025
1
50
51
At 31 March 2024
1
-
1
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
131,765
107,165
Other debtors
53,774
118,165
185,539
225,330
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
200,000
-
0
Total debtors
385,539
225,330
7
Current asset investments
2025
2024
£
£
Listed investments
88
127,430
CRENNS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
279,013
Trade creditors
24,491
4,854
Amounts owed to group undertakings
-
0
502
Corporation tax
512
-
0
Other taxation and social security
8,848
8,156
Other creditors
135,919
205,690
169,770
498,215
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
6,465,116
5,684,076
Other creditors
4,467,540
3,821,025
10,932,656
9,505,101
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
2,692,438
2,752,791

The bank loans are secured by fixed charge over the properties of the company.

10
Related party transactions

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

At the year end, an amount of £Nil was owed by the directors' to the company (2024: £4,726 owed by the directors').

At the year end, an amount of £37,407 (2024: £100,000) was receivable from Crenns Developments Limited. Mr M Rebuck and Mrs M Rebuck are directors of Crenns Developments Limited. During the year the company received interest on this loan amounting to £2,601 (2024: £nil).

During the year, the company received £3,000 (2024: £3,000) in respect of office administration services provided to Crenns Finance Limited. The company paid interest charges amounting to £216,659 (2024: £219,781) on a loan which was provided by Crenns Finance Limited. At the year end, the amount payable to Crenns Finance Limited was £4,021,025 (2024: £3,821,025). Mr M Rebuck and Mrs M Rebuck are directors of Crenns Finance Limited.

CRENNS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
11
Parent company

Crenns Acquisitions Limited is regarded by the Directors as being the company's ultimate parent company. The registered office of the parent company is Ground Floor, 31 Kentish Town Road, Camden Town, London, NW1 8NL.

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