Period from 28 March 2018 to
Registration number:
1 The Crescent Trading Ltd
Contents
Balance Sheet |
|
Notes to the Financial Statements |
1 The Crescent Trading Ltd
Balance Sheet
31 March 2019
Note |
2019 |
|
Fixed assets |
||
Tangible assets |
|
|
Current assets |
||
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
|
|
Profit and loss account |
( |
|
Total equity |
( |
Page 1 |
1 The Crescent Trading Ltd
Balance Sheet
31 March 2019
For the financial period ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 11281240
Page 2 |
1 The Crescent Trading Ltd
Notes to the Financial Statements
Period from 28 March 2018 to 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
Tangible assets
Tangible assets are stated in the balance sheet 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:
Page 3 |
1 The Crescent Trading Ltd
Notes to the Financial Statements
Period from 28 March 2018 to 31 March 2019
Asset class |
Depreciation method and rate |
Property improvements |
Over 20 years |
Investment property
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Page 4 |
1 The Crescent Trading Ltd
Notes to the Financial Statements
Period from 28 March 2018 to 31 March 2019
Tangible assets |
Property improvements |
Total |
|
Cost or valuation |
||
Additions |
|
|
At 31 March 2019 |
|
|
Depreciation |
||
Charge for the period |
|
|
At 31 March 2019 |
|
|
Carrying amount |
||
At 31 March 2019 |
|
|
Included within the net book value of land and buildings above is £404,249 in respect of freehold land and buildings.
Debtors |
Note |
31 March 2019 |
|
Amounts due from group undertakings |
|
|
Other debtors |
|
|
|
Page 5 |
1 The Crescent Trading Ltd
Notes to the Financial Statements
Period from 28 March 2018 to 31 March 2019
Creditors |
Creditors: amounts falling due within one year
31 March 2019 |
|
Due within one year |
|
Trade creditors |
|
Social security and other taxes |
|
Other creditors |
|
|
Share capital |
Allotted, called up and fully paid shares
2019 |
||
No. |
£ |
|
|
|
50 |
|
|
25 |
|
|
25 |
|
|
Page 6 |