Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3110false2022-01-01falseThe principal activity of the entity is that of supply and fitting of uPVC windows and doors to the general public.4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07310488 2022-01-01 2022-12-31 07310488 2021-01-01 2021-12-31 07310488 2022-12-31 07310488 2021-12-31 07310488 c:Director1 2022-01-01 2022-12-31 07310488 d:PlantMachinery 2022-01-01 2022-12-31 07310488 d:PlantMachinery 2022-12-31 07310488 d:PlantMachinery 2021-12-31 07310488 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 07310488 d:MotorVehicles 2022-01-01 2022-12-31 07310488 d:MotorVehicles 2022-12-31 07310488 d:MotorVehicles 2021-12-31 07310488 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 07310488 d:OfficeEquipment 2022-01-01 2022-12-31 07310488 d:OfficeEquipment 2022-12-31 07310488 d:OfficeEquipment 2021-12-31 07310488 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 07310488 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 07310488 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 07310488 d:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 07310488 d:CurrentFinancialInstruments 2022-12-31 07310488 d:CurrentFinancialInstruments 2021-12-31 07310488 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07310488 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 07310488 d:ShareCapital 2022-12-31 07310488 d:ShareCapital 2021-12-31 07310488 d:RetainedEarningsAccumulatedLosses 2022-12-31 07310488 d:RetainedEarningsAccumulatedLosses 2021-12-31 07310488 c:FRS102 2022-01-01 2022-12-31 07310488 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 07310488 c:FullAccounts 2022-01-01 2022-12-31 07310488 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 07310488 d:EntityControlledByKeyManagementPersonnel1 2022-01-01 2022-12-31 07310488 d:EntityControlledByKeyManagementPersonnel1 2021-01-01 2021-12-31 07310488 d:EntityControlledByKeyManagementPersonnel1 2022-12-31 07310488 d:EntityControlledByKeyManagementPersonnel1 2021-12-31 07310488 2 2022-01-01 2022-12-31 07310488 7 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 07310488










CROWN WINDOWS & DOORS LIMITED (Previously The Crown Window System Limited)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
CROWN WINDOWS & DOORS LIMITED
REGISTERED NUMBER: 07310488

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
27,097
39,799

  
27,097
39,799

Current assets
  

Stocks
 6 
-
63,294

Debtors: amounts falling due within one year
 7 
12,967
65,458

Cash at bank and in hand
  
11,641
28,923

  
24,608
157,675

Creditors: amounts falling due within one year
 8 
(73,795)
(161,012)

Net current liabilities
  
 
 
(49,187)
 
 
(3,337)

Total assets less current liabilities
  
(22,090)
36,462

Provisions for liabilities
  

Deferred tax
  
-
(1,575)

  
 
 
-
 
 
(1,575)

Net (liabilities)/assets
  
(22,090)
34,887


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(22,091)
34,886

  
(22,090)
34,887


Page 1

 
CROWN WINDOWS & DOORS LIMITED
REGISTERED NUMBER: 07310488
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D P Firmager
Director

Date: 27 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Crown Windows & Doors Limited is a private company, limited by shares, domiciled in England and Wales, registration number 07310488. The registered office is Unit 3 K,L,M Hudson Road, Saxby Road Industrial Estate, Melton Mowbray, Leicestershire, LE13 1BP.
Principal activity
The principal activity of the entity is that of supply and fitting of uPVC windows and doors to the general public.
Change of name
On 18 May 2021 the Company changed its name from The Crown Window System Limited to Crown Windows & Doors Limited.

2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentational currency is British Pound Sterling (£).
The following principal accounting policies have been applied:

  
2.2

Going concern

The directors have considered the financial position of the Company. The Company’s financial statements should be prepared on a going concern basis on the grounds of current and future sources of funding or support will be more than adequate for the Company’s needs. They have  considered a period of twelve months from the date of approval of the financial statements. They believe that no further disclosures relating to the Company’s ability to continue as a going concern need to be made in the financial statements. They are not aware of any material uncertainties or doubts about the ability of the Company to continue as a ‘going concern’ for the foreseeable future.

Page 3

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit & Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

Page 4

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.7

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the period in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line or reducing balance methods.

Depreciation is provided on the following basis:

Plant and machinery
-
35% reducing balance per annum or 35% straight line per annum
Motor vehicles
-
33% - 51% reducing balance per annum
Office equipment
-
34% straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

  
2.13

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

  
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.15

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.17

Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs, subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
Page 7

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.17
Financial instruments (continued)

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 10).


4.


Intangible assets




Website development

£



Cost


At 1 January 2022
3,000



At 31 December 2022

3,000



Amortisation


At 1 January 2022
3,000



At 31 December 2022

3,000



Net book value



At 31 December 2022
-



At 31 December 2021
-



Page 8

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
850
91,899
2,510
95,259



At 31 December 2022

850
91,899
2,510
95,259



Depreciation


At 1 January 2022
750
52,276
2,434
55,460


Charge for the year
-
12,627
75
12,702



At 31 December 2022

750
64,903
2,509
68,162



Net book value



At 31 December 2022
100
26,996
1
27,097



At 31 December 2021
100
39,623
76
39,799


6.


Stocks

2022
2021
£
£

Work in progress
-
63,294

-
63,294



7.


Debtors

2022
2021
£
£


Trade debtors
10,824
50,336

Amounts owed by group undertakings
1,100
1,100

Amounts owed by other related parties
-
13,509

Prepayments and accrued income
1,043
513

12,967
65,458


Page 9

 
CROWN WINDOWS & DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
9,355
16,637

Amounts owed to group undertakings
-
52,767

Corporation tax
-
2,947

Other taxation and social security
17,161
50,472

Obligations under finance lease and hire purchase contracts
-
8,991

Other creditors
33,990
3,322

Accruals and deferred income
13,289
25,876

73,795
161,012


Hire purchase contracts of £nil (2021 - £8,991) are secured against the assets to which they relate.


9.


Related party transactions

The wholly owned companies of the Group are exempt from the requirements of Financial Reporting Standard 102, section 1AC.35 to disclose dividends.
All transactions are considered to be at arms length.


2022
2021
£
£

Sales to other related parties
-
160,560
Purchases from other related parties
148,666
275,629
Amounts owed to other related parties
33,501
2,292
Amounts owed from other related parties
-
13,509


10.


Controlling party

The immediate and ultimate parent undertaking of the Company is Harborough Holdings Limited. The registered office for which is Unit 3 Hudson Road, Saxby Road Industrial Estate, Melton Mowbray, Leicestershire, LE13 1BS.
The Company is a subsidary undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.

 
Page 10