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.

The members have 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 profit and loss account within the financial statements.true

Craig & Watts Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 91 Birmingham Road, West Bromwich, West Midlands, B70 6PX.

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 amounts 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.

The directors believe that there are no material uncertainties related to events or conditions, that may cast significant doubt on the ability of the company to continue as a going concern and therefore the going concern basis remains appropriate in the preparation of the financial statements.

Turnover consists of management fees charged to group companies. Management fees are recognised when the services are rendered.

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:

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.

Investment properties are included at fair value. Any changes in fair value are recognised in the Income Statement and because the gains are not distributable, they are included within a fair value reserve.

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.

The company accounts for it's investments in subsidiary undertakings by the equity method, whereby the original cost of the investments is adjusted for the movement in underlying net assets applicable to the investments since their date of acquisition, as adjusted for any impairment in value that, in the judgement of the Board, needs to be reflected in the financial statements, with an adjustment to the company's revaluation reserve.

In deciding whether an impairment loss needs to be reflected in the financial statements of Craig and Watts Holdings Limited the directors consider the value of the assets and liabilities in the subsidiary company at each reporting date, and compare this with the carrying value of the fixed asset investment in the company's balance sheet.

If the investment's recoverable amount is estimated to be less than its carrying amount then the carrying amount is reduced to the recoverable amount, with the impairment loss being recognised in the income statement.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties.

Basic financial instruments such as those above are recognised in the financial statements at amortised cost.

Any exception to the above are either immaterial or do not affect more than one accounting period.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 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.

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

Development costs

Development costs relating to properties that are at the stage of completion are included as an asset in the financial statements when it is reasonable to assume that rental income will be generated in respect of these properties.

Group accounts

The company has taken advantage of the exemption conferred by section 398 of the Companies Act 2006 from the requirement to prepare group accounts. Accordingly these financial statements present information about the company as an individual undertaking.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Investment property was valued on an open market basis on 31st March 2025 by the directors.

The above investment properties and are held for use under operating leases.

If shares in group undertakings had not been revalued they would have been included at the historical cost of £1,200 (2024: £1,200).

Shares in group undertakings were valued on a fair value basis on 31st March 2025 by the directors.

The company has provided support to Craig Watts developments Limited and Happy Girls Limited, its subsidiary companies, in the development and construction of it's properties. The amounts owed by the group undertakings will be recovered on completion of the properties. As the properties are at the development stage the balance owed has been disclosed as due in more than one year.

The bank borrowings are secured by way of a legal charge over the Craig Watts group investment properties.

Guarantees have also been provided by C R Watts, the director of the company.

An inter-company composite guarantee has been provided to Gainlive Limited, a subsidiary of the company.

The above loans are unsecured, interest free and repayable on demand.

The ultimate controlling party is C R Watts.