Crenns Developments Limited - Accounts to registrar (filleted) - small 18.2
Crenns Developments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Crenns Developments Limited |
| Unaudited financial statements |
| for the year ended 31 March 2020 |
| Crenns Developments Limited (Registered number: 03955664) |
| Contents of the financial statements |
| for the Year Ended 31 March 2020 |
| Page |
| Company information | 1 |
| Statement of financial position | 2 |
| Notes to the financial statements | 3 |
| Crenns Developments Limited |
| Company information |
| for the Year Ended 31 March 2020 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| 2nd Floor |
| 1 Bell Street |
| London |
| NW1 5BY |
| Crenns Developments Limited (Registered number: 03955664) |
| Statement of financial position |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| Current assets |
| Stocks | 4 |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| 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. |
| 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 and authorised for issue on |
| Crenns Developments Limited (Registered number: 03955664) |
| Notes to the financial statements |
| for the Year Ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Crenns Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Crenns Developments Limited (Registered number: 03955664) |
| Notes to the financial statements - continued |
| for the Year Ended 31 March 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | STOCKS |
| 2020 | 2019 |
| £ | £ |
| Land & buildings |
| Stocks and shares | - | 114,544 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | 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 £201,865 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 £nil (2019: £201,865). |
| At the year end, Crenns Properties Ltd, in which Mr & Mrs Rebuck are the directors, owed Crenns Development Limited £150,000 (2019: £150,000). |
| 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. |