Black Crow Estates Limited - Period Ending 2023-03-31

Black Crow Estates Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Black Crow Estates Limited

(Registration number: 03295279)
Statement of Financial Position as at 31 March 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	4	5
Investment property	5	300,000	300,000
		300,004	300,005
Current assets
Debtors	6	3,780	5,849
Cash at bank and in hand		4,029	1,128
		7,809	6,977
Creditors: Amounts falling due within one year	7	(83,281)	(97,315)
Net current liabilities		(75,472)	(90,338)
Net assets		224,532	209,667
Capital and reserves
Called up share capital		3,324	3,324
Fair value reserve		19,465	19,465
Profit and loss account		201,743	186,878
Shareholders' funds		224,532	209,667

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 27 June 2023 and signed on its behalf by:
 

Black Crow Estates Limited

(Registration number: 03295279)
Statement of Financial Position as at 31 March 2023

.........................................

Mr N B Reeve
Director

Black Crow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 8 Borelli Yard, The Borough, Farnham, Surrey, GU9 7NU.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% reducing balance

Black Crow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

Black Crow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 April 2022	708	708
At 31 March 2023	708	708
Depreciation
At 1 April 2022	703	703
Charge for the year	1	1
At 31 March 2023	704	704
Carrying amount
At 31 March 2023	4	4
At 31 March 2022	5	5

5	Investment property

	2023 £
At 1 April 2022	300,000
At 31 March 2023	300,000

The investment property was valued on an open market basis on 31 March 2023 by Mr N B Reeve, director and chartered surveyor.

6

Debtors

	2023 £	2022 £
Trade debtors	3,225	4,975
Other debtors	555	874
	3,780	5,849

Black Crow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Taxation and social security	5,499	6,364
Accruals and deferred income	5,650	5,425
Other creditors	72,132	85,526
	83,281	97,315

8	Related party transactions

At the year end the company owed its directors Mr G B Reeve, Mr N B Reeve and Mr C D Lock £28,582 (2022- £33,580), £22,763 (2022 - £27,161), and £20,787 (2022 - £24,785) respectively.