The village of Krutovo, located on the Nerekhta River, is one of the oldest settlements in the Kovrov district. In ancient documents, it is mentioned as "Krutoe," likely due to the high hill on the right bank of the river. Until the 18th century, the name remained "Krutoe," but then changed to "Krutovo." The first mention of the village appears in a deed of exchange between Tsar Ivan IV the Terrible and his cousin Prince Vladimir Andreyevich Staritsky. According to this document dated March 11, 1566, the prince exchanged Zvenigorod for the town of Vereya and received in addition "the volost of Pozhar and the village of Krutoe with its villages and lands."

In 1574-1575, the village of Krutoe is mentioned as having "the temple of the Annunciation of the Most Pure Mother of God, standing without service, in the same village a small monastery of white, and in it a holy church of Friday." Of the 12 villages that existed at that time near the village, 5 were destroyed, likely due to the Oprichnina. Services in the Annunciation Church were not conducted. This is the first documented evidence of the temple in Krutovo. A monastery with the Friday church on "white" land is also mentioned, which, apparently, was small and disappeared during the Time of Troubles.

By the end of the 17th century, after changing several owners, the village of Krutoe came into the possession of the noble Vladykin family. In 1670, it was granted to Fyodor Vasilyevich Vladykin "for his many services." The village remained in their possession until the 1790s, and throughout this time, a wooden Annunciation Church operated there.

In the late 19th century, Krutovo became a major trading village. In addition to weekly markets, fairs were held twice a year: one on the tenth Friday after Easter, and the other on October 28, the feast day of Saint Paraskeva the Great Martyr.

In the 1930s, with a new wave of repressions, mass closures of churches began across the Soviet Union. On June 3, 1939, the Annunciation Church was closed by the decision of the Ivanovo Regional Executive Committee. By this time, services were no longer held, and this decision became merely a formality. The cemetery and the fence around the church were destroyed, and all the church utensils were removed, including two valuable Gospels from 1774 and 1803. In the following years, the building was used as a club and warehouse, and then it was abandoned.

In the 1990s, amid a wave of patriotism, attempts were made to raise funds for the restoration of the church, and a priest came to the village to conduct prayers. However, the efforts did not go beyond discussions and articles in newspapers. Only in our time has the restoration of the church in honor of the Annunciation of the Blessed Virgin Mary begun.