Crabtree & Crabtree Lettings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06944414 (England and Wales)

Crabtree & Crabtree Lettings Ltd

Financial Statements

for the Year Ended 31st December 2019

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

7

Director:

Ms E L Crabtree

Secretary:

Ms E L Crabtree

Registered office:

Horncliffe House

Horncliffe

Berwick-Upon-Tweed

TD15 2XT

Registered number:

06944414 (England and Wales)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Intangible assets

4

23,994

13,966

Tangible assets

5

5,980

6,646

29,974

20,612

Current assets

Debtors

6

254,154

332,560

Cash at bank and in hand

77,910

55,053

332,064

387,613

Creditors

Amounts falling due within one year

7

221,270

209,660

Net current assets

110,794

177,953

Total assets less current liabilities

140,768

198,565

Provisions for liabilities

5,695

3,916

Net assets

135,073

194,649

Capital and reserves

Called up share capital

100

100

Retained earnings

134,973

194,549

Shareholders' funds

135,073

194,649

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

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

The director acknowledges her 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7th May 2020 and were signed by:

Ms E L Crabtree - Director

1.	Statutory information

Crabtree & Crabtree Lettings Ltd 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the

year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of

ownership have passed to the buyer. Turnover arising from the provision of services is recognised as

contract activity progresses and the right to consideration is earned. Unbilled turnover is included in

debtors as amounts recoverable on contracts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures, fittings and equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment

losses.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade

creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are

measured at the undiscounted amount of the cash or other consideration expected to be paid or

received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss

is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 balance sheet date.

Deferred tax

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

the balance sheet 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.

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the

lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event

prior to the balance sheet date and that a payment will be required in settlement that can be estimated

reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of

Income and Retained Earnings in the period in which they are incurred.

Going concern

The director has considered the company's financial position for a period of 12 months from the date of

signing these financial statements and has reasonable expectation that the company has adequate

resources to continue in operational existence for the foreseeable future. Accordingly, she continues to

adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was 8 (2018 - 7 ) .

4.	Intangible fixed assets

Website

£

Cost

At 1st January 2019

19,952

Additions

20,022

At 31st December 2019

39,974

Amortisation

At 1st January 2019

5,986

Amortisation for year

9,994

At 31st December 2019

15,980

Net book value

At 31st December 2019

23,994

At 31st December 2018

13,966

5.	Tangible fixed assets

Fixtures,

fittings

and

equipment

£

Cost

At 1st January 2019

23,652

Additions

1,312

At 31st December 2019

24,964

Depreciation

At 1st January 2019

17,006

Charge for year

1,978

At 31st December 2019

18,984

Net book value

At 31st December 2019

5,980

At 31st December 2018

6,646

6.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

27,964

34,026

Other debtors

226,190

298,534

254,154

332,560

7.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

7,254

5,043

Trade creditors

187,882

149,405

Taxation and social security

19,712

49,678

Other creditors

6,422

5,534

221,270

209,660

8.	Other financial commitments

At 31st December 2019, the company had total commitments under non-cancellable operating leases

of £5,833 (2018 - £16,000).

9.	Post balance sheet events

After the year end, on 27th March 2020, a dividend of £450 per share was declared.

10.	Directors advances, credits and guarantees

The following advances and credits to a director subsisted during the year ended 31st December 2019

and the period ended 31st December 2018:

2019

2018

Director

£

£

Balance outstanding at start of period

251,309

151,684

Amounts advanced

81,634

148,194

Amounts repaid

(145,464

)

(48,569

)

Balance outstanding at end of period

187,479

251,309

This loan is unsecured, interest has been charged at the official rates published by HMRC and it is

repayable on demand.