Crenns Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03955664 (England and Wales)

Crenns Developments Limited

Unaudited financial statements

for the year ended 31 March 2019

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

Directors:

M Rebuck

Mrs M Rebuck

Secretary:

Mrs M Rebuck

Registered office:

1 Bell Street

2nd Floor

London

NW1 5BY

Registered number:

03955664 (England and Wales)

Accountants:

DSJ Partners (UK) Limited

1 Bell Street

2nd Floor

London

NW1 5BY

Current assets

Stocks

3

1,284,995

1,812,782

Debtors

4

235,567

263,073

Cash at bank and in hand

655,982

42,529

2,176,544

2,118,384

Creditors

Amounts falling due within one year

5

(298,543

)

(505,912

)

Net current assets

1,878,001

1,612,472

Total assets less current liabilities

1,878,001

1,612,472

Capital and reserves

Called up share capital

2

2

Retained earnings

1,877,999

1,612,470

Shareholders' funds

1,878,001

1,612,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 December 2019 and were signed on its behalf by:

M Rebuck - Director

1.	STATUTORY INFORMATION

Crenns Developments Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The directors believe that the company is capable of experiencing good levels of sales growth and profitability,

and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable

expectation that the company has adequate resources to continue in operational existence for the foreseeable

future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents proceeds received from the disposals of properties and disposal of stocks and securities.

Purchases of properties are taken into the accounts if contracts are exchanged prior to the balance sheet date.

Sales of properties are taken into the accounts if the contracts are completed before the balance sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable

value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of

inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net

realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the

related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of

stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any

reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an

expense in the period in which the reversal occurs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.

STOCKS

2019

2018

£

£

Land & buildings

1,170,451

1,689,356

Stocks and shares

114,544

123,426

1,284,995

1,812,782

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

235,567

263,073

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

7,068

68,332

Taxation and social security

52,068

1,599

Other creditors

239,407

435,981

298,543

505,912

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of 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 subsidiaries within the group.

During the year, the company has repaid loan of £146,605 to Crenns Developments Small Self-administrated

Scheme in which the directors are the members of the Pension Scheme. At the year end the outstanding amount

of loan was £201,865 (2018: £348,470).

At the year end, Crenns Properties Ltd, in which Mr & Mrs Rebuck are the directors, owed Crenns Development

Limited £150,000 (2018: £240,000).

The controlling party is M Rebuck.

Crenns Holdings Limited is regarded by the Directors as being the company's ultimate parent company. The

registered office of the parent company is 1 Bell Street, 2nd Floor, London, England, NW1 5BY.