Crest Property Management Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—8

1. General Information

Crest Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08594804 . The registered office is The Old Laundry Lady Mary Square, Rostherne Lane, Rostherne, Knutsford, Cheshire, WA16 6SA.

The principal activity of the company consists of property management, rent collection, and property maintenance.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excludung discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;

it is probable that the company will receive the consideration due under the contract;

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

the costs incurred and the costs to complete the contract can be measured reliably.

Fees for property management services provided are recognised as they are earned.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are measured at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33.3% straight line
Motor Vehicles	20% straight line
Computer Equipment	33.3% straight line

Page 3

Page 4

Crest Property Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.4. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtor and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for that asset if it were to be sold at the balance sheet date.

2.5. Taxation

Income 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 profit as reported in the Income Statement because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 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 value of liabilities acquired and the amount that will be assessed for tax.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in the Income Statement, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Page 4

Page 5

Crest Property Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Operating leases: the company as lessee

Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard, 1 January 2017, to continue to be charged over the period to the first market rent review rather than the term of the lease.

2.7. Debtors, cash and cash equivalents, and creditors

Debtors

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 at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than twenty four 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.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are matured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8. Provisons for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the year end date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 7)

Page 5

Page 6

Crest Property Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	26,576	30,000	1,582	58,158
Additions	22,500	-	1,469	23,969
Disposals	-	-	(1,582 )	(1,582 )

As at 31 December 2025	49,076	30,000	1,469	80,545

Depreciation
As at 1 January 2025	26,576	833	1,582	28,991
Provided during the period	3,750	6,000	259	10,009
Disposals	-	-	(1,582 )	(1,582 )

As at 31 December 2025	30,326	6,833	259	37,418

Net Book Value
As at 31 December 2025	18,750	23,167	1,210	43,127

As at 1 January 2025	-	29,167	-	29,167

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	176	4,084
Other debtor balances	2,134	6,527
Prepayments and accrued income	163,419	148,650
Amounts owed by related undertakings	1,487,286	1,434,082

	1,653,015	1,593,343

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,006	4,488
Bank loans and overdrafts	9,282	10,126
Corporation tax	3,251	316
Other taxes and social security	5,239	2,276

...CONTINUED

Page 6

Page 7

Crest Property Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Other creditors	238,011	208,804
Accruals and deferred income	17,234	8,844
Amounts owed to related undertakings	1,595,014	1,617,777

	1,870,037	1,852,631

Other creditors include loans from the directors of £202,311 (2024: £179,995). These loans are unsecured, interest free, and have no fixed repayment terms.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	9,282

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	300	300

9. Related Party Transactions

The company delivers property management services to a portfolio of investment properties within the group headed by Forward Construction and Developments Limited and other entities controlled by the directors or related to the directors.

During the year property management charges were made to the following entities ultimately controlled by the directors:

The Forward Property Group Limited, £13,750 (2024: £13,750)

Tilesite Limited, £6,000 (2024: £6,000)

Lancebury Estates Limited, £5,000 (2024: £5,000)

Forward Construction and Developments Limited, £15,000 (2024: £15,000)

St Baldreds Estates Limited, £5,000 (2024: £5,000)

Forward Point Limited, £16,400 (2024: £15,425)

Crest Commercial Property Limited, £5,000 (2024: £5,000).

At 31 December 2025, the following balances were owed by related undertakings (note 5):

The Forward Property Group Limited, £1,257,649 (2024: £1,434,082)

St Baldreds Estates Limited, £6,896 (2024: £Nil)

Crest Commercial Property Limited £222,741 (2024: £Nil).

At 31 December 2025, the following balances were owed to related undertakings (note 6);

Forward Construction and Developments Limited £80,175 (2024: £97,339)

Tilesite Limited, £690,886 (2024: £576,074)

Forward Construction and Developments Limited Self Administered Pension Scheme, £695,086 (2024: £663,963)

St Baldreds Estates Limited, £Nil (2024: £47,893)

Lancebury Estates Limited, £35,101 (2024: £48,373)

Crest Commercial Property Limited, £Nil (2024: £89,412)

...CONTINUED

Page 7

Page 8

Crest Property Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Related Party Transactions - continued

Forward Point Limited, £93,766 (2024: £94,723).

During the year dividends of £1,500 (2024: £1,500) were paid to shareholders.

All related party loans and balances have no fixed terms and no interest is charged.

Page 8

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		43,127		29,167

			43,127		29,167
CURRENT ASSETS
Debtors	5	1,653,015		1,593,343
Cash at bank and in hand		295,115		355,945

		1,948,130		1,949,288
Creditors: Amounts Falling Due Within One Year	6	(1,870,037 )		(1,852,631 )

NET CURRENT ASSETS (LIABILITIES)			78,093		96,657

TOTAL ASSETS LESS CURRENT LIABILITIES			121,220		125,824

Creditors: Amounts Falling Due After More Than One Year	7		-		(9,282 )

NET ASSETS			121,220		116,542

CAPITAL AND RESERVES
Called up share capital	8		300		300
Income Statement			120,920		116,242

SHAREHOLDERS' FUNDS			121,220		116,542