REGISTERED NUMBER: 03460740 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

CRAVENCREST PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Hoffman

REGISTERED OFFICE:

87 Osbaldeston Road

London

N16 6NP

REGISTERED NUMBER:

03460740 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

2,110

2,483

Investment property

5

675,000

675,000

677,110

677,483

CURRENT ASSETS

Debtors

611,073

189,561

Cash at bank

19,898

30,636

630,971

220,197

CREDITORS

Amounts falling due within one year

183,745

205,656

NET CURRENT ASSETS

447,226

14,541

TOTAL ASSETS LESS CURRENT LIABILITIES

1,124,336

692,024

CREDITORS

Amounts falling due after more than one year

6

(436,439

)

-

PROVISIONS FOR LIABILITIES

(109,361

)

(109,361

)

NET ASSETS

578,536

582,663

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

437,446

437,446

Retained earnings

141,088

145,215

SHAREHOLDERS' FUNDS

578,536

582,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 20 February 2019 and were signed by:

Mr A Hoffman - Director

1.	STATUTORY INFORMATION

Cravencrest Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents gross rent receivable.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are

initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can

be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and

losses arising from changes in the fair value of investment properties are included in profit or loss in the period

in which they arise.

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 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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2017

and 28 February 2018

9,606

DEPRECIATION

At 1 March 2017

7,123

Charge for year

373

At 28 February 2018

7,496

NET BOOK VALUE

At 28 February 2018

2,110

At 28 February 2017

2,483

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2017

and 28 February 2018

675,000

NET BOOK VALUE

At 28 February 2018

675,000

At 28 February 2017

675,000

Fair value at 28 February 2018 is represented by:

£

Valuation in 2008

191,807

Valuation in 2016

355,000

Cost

128,193

675,000

If investment property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

128,193

128,193

Investment property was valued on an open market basis on 28 February 2018 by the director .

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable otherwise than by instalments

Bank loans

436,439

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

436,439

12,389

Bank loans are secured on the company's investment property.