| Crane Investments Ltd |
| Registered number: |
06732412 |
| Balance Sheet |
| as at 31 March 2025 |
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| Notes |
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2025 |
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2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
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|
3,014 |
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|
1,571 |
| Investments |
4 |
|
|
9,272,860 |
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|
9,204,864 |
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|
|
|
9,275,874 |
|
|
9,206,435 |
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| Current assets |
| Debtors |
5 |
|
5,313,149 |
|
|
5,626,601 |
| Cash at bank and in hand |
|
|
42,609 |
|
|
28,884 |
|
|
|
5,355,758 |
|
|
5,655,485 |
|
| Creditors: amounts falling due within one year |
6 |
|
(391,018) |
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|
(498,994) |
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| Net current assets |
|
|
|
4,964,740 |
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5,156,491 |
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| Total assets less current liabilities |
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14,240,614 |
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14,362,926 |
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| Creditors: amounts falling due after more than one year |
7 |
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|
(8,389,818) |
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(8,378,723) |
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| Provisions for liabilities |
|
|
|
(713,894) |
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(713,894) |
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| Net assets |
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|
5,136,902 |
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5,270,309 |
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| Capital and reserves |
| Called up share capital-fully paid |
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|
2,000 |
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|
2,000 |
| Profit and loss account - distributable |
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2,770,235 |
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|
2,903,642 |
| Profit and loss account - non distributable |
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|
|
2,364,667 |
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|
2,364,667 |
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| Shareholders' funds |
|
|
|
5,136,902 |
|
|
5,270,309 |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
| Ashok Patel |
| Director |
| Approved by the board on 19 December 2025 |
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| Crane Investments Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the letting of property and from the rendering of services. Turnover from property letting is recognised according to the period for which the rent is receivable. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, equipment |
over 5 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Profit and loss account reserve |
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The profit and loss account reserve comprises non distributable reserves arising from the change in fair values on investment properties in addition to distributable reserves. The distibutable and non distributable balance of the reserve are disclosed separately in the financial statements. |
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Group Accounts |
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The company is entitled to the exemption under Section 398 of the Companies Act 2016 from the obligation to prepare group accounts. The acccounts present information about the company as an individual undertaking and not about its group. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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| 3 |
Tangible fixed assets |
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Fixtures, fittings & equipment |
| £ |
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Cost |
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At 1 April 2024 |
39,192 |
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Additions |
2,660 |
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Disposals |
(2,000) |
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At 31 March 2025 |
39,852 |
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Depreciation |
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At 1 April 2024 |
37,620 |
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Charge for the year |
1,218 |
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On disposals |
(2,000) |
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At 31 March 2025 |
36,838 |
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Net book value |
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At 31 March 2025 |
3,014 |
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At 31 March 2024 |
1,572 |
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| 4 |
Investments |
| Investments in |
| subsidiary |
Other |
| undertakings |
investments |
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
1,003 |
|
9,203,861 |
|
9,204,864 |
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Additions |
- |
|
52,382 |
|
52,382 |
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Revaluation |
- |
|
15,614 |
|
15,614 |
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At 31 March 2025 |
1,003 |
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9,271,857 |
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9,272,860 |
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Historical cost |
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At 1 April 2024 |
1,003 |
|
5,797,141 |
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At 31 March 2025 |
1,003 |
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5,849,524 |
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The directors believe that the value of Red Lion Court at the balance sheet date was £6,500,000. |
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Furnival Street is under construction and included in the accounts at cost to date of £2,771,856 |
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The company holds 20% or more of the share capital of the following companies: |
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| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
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|
Class |
% |
£ |
£ |
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Crane Apartments Ltd |
Ordinary |
100 |
|
3,084,371 |
|
8,049 |
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Crane Legal Ltd |
Ordinary |
100 |
|
170,221 |
|
- |
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Harrier Investments Ltd |
Ordinary |
|
100 |
|
865,731 |
|
(405,999) |
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City2Stay Ltd |
Ordinary |
|
100 |
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(204,742) |
|
80,641 |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
- |
|
1,320 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
5,035,894 |
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5,445,032 |
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Other debtors |
277,255 |
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180,249 |
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5,313,149 |
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5,626,601 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans and overdrafts |
90,596 |
|
143,016 |
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Trade creditors |
49,765 |
|
53,436 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
171,500 |
|
224,382 |
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Other creditors |
79,157 |
|
78,160 |
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391,018 |
|
498,994 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans |
8,389,818 |
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8,378,723 |
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| 8 |
Loans |
2025 |
|
2024 |
| £ |
£ |
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Creditors include: |
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Secured bank loans |
8,468,182 |
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8,500,000 |
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The bank loans are secured by means of
A personal guarantees from Mr Ashok Patel: one for the amount of £600,000 each plus interest and other charges and one for the amount of £250,000 each plus interest and other charges.
First debenture over all assets and undertakings
First legal charge over Flat 1, 9 Red Lion Court
First legal charge over 1 Crane Court (owned by Crane Apartments Ltd)
First legal charge over 32 Furnival Street |
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| 9 |
Related party transactions |
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2025 |
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2024 |
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Crane Apartments Ltd |
|
Wholly owed subsidiary |
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Amounts due from (to) the related party |
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1,901,597 |
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1,900,004 |
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AP Law Solicitors Ltd |
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Owned and controlled by Mr Ashok Patel |
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Amounts due from (to) the related party |
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31,071 |
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33,433 |
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Crane Legal Ltd |
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Wholly owed subsidiary |
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Amounts due from (to) the related party |
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(171,500) |
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(80,663) |
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Dividends received |
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- |
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- |
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Harrier Investments Ltd |
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Wholly owed subsidiary |
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Amounts due from (to) the related party |
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3,064,697 |
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3,247,278 |
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Costs recharged to related party included in fees and cost of sales |
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- |
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- |
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Proceeds of sale of property to related party |
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City2Stay Ltd |
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Wholly owed subsidiary |
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Amounts due from (to) the related party |
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65,601 |
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140,031 |
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Rent receivable |
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|
460,000 |
|
400,000 |
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House of Tuesday Ltd |
|
50% owned by Mr Ashok Patel |
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Fees receivable from related party |
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Amounts due from (to) the related party |
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|
236,295 |
|
133,048 |
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Parks Farm Investments Ltd |
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Wholly owned subsidiary of House of Tuesday Ltd |
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Amounts due from (to) the related party |
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|
4,000 |
|
14,000 |
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Mrs Sharanjit Sandhu |
|
Spouse of Mr Ashok Patel |
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Interest free loan to company repayable on demand |
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(75,000) |
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(75,000) |
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| 10 |
Other information |
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Crane Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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10 Durham Avenue |
|
Gidea Park |
|
Romford |
|
Rm2 6JS |