Company Registration No. 09038326 (England and Wales)
NEATCROWN HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
PAGES FOR FILING WITH REGISTRAR
NEATCROWN HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr B H Griffiths
Mrs K E Griffiths
Secretary
V Williams
Company number
09038326
Registered office
Station Yard Industrial Estate
Corwen
Denbighshire
United Kingdom
LL21 0EE
Accountants
Azets
Brynford House
21 Brynford Street
Holywell
Flintshire
United Kingdom
CH8 7RD
NEATCROWN HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NEATCROWN HOLDINGS LIMITED
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
570,100
320,100
Current assets
Debtors
4
42,041
284,852
Net current assets
42,041
284,852
Total assets less current liabilities
612,141
604,952
Creditors: amounts falling due after more than one year
5
(292,041)
(284,852)
Net assets
320,100
320,100
Capital and reserves
Called up share capital
2,489
2,489
Share premium account
178,611
178,611
Equity reserve
19,000
19,000
Other reserves
120,000
120,000
Total equity
320,100
320,100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 August 2022 and are signed on its behalf by:
Mr B H Griffiths
Director
Company Registration No. 09038326
NEATCROWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 2 -
1
Accounting policies
Company information
Neatcrown Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Station Yard Industrial Estate, Corwen, Denbighshire, United Kingdom, LL21 0EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
NEATCROWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
570,100
320,100
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 June 2021
320,100
Additions
250,000
At 31 May 2022
570,100
Carrying amount
At 31 May 2022
570,100
At 31 May 2021
320,100
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
7,189
NEATCROWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
4
Debtors
(Continued)
- 4 -
2022
2021
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
34,852
284,852
Total debtors
42,041
284,852
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
292,041
284,852
Included in long term other creditors is a balance of £17,962 (2021: £284,852) due to the directors. This amount is interest-free and repayable on demand.
Also included in long term other creditors is a loan of £274,079 (2021: nil) due to Minimum World Ltd, a company under common control. This amount is accruing interest at 8% per annum and the full balance, including interest accrued, is repayable at the end of the loan term (February 2032).