Registered number
08359287
NEWCROWN INVESTMENTS LIMITED
Unaudited Filleted Accounts
31 January 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
NEWCROWN INVESTMENTS LIMITED
Registered number: 08359287
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 120 120
Current assets
Debtors 4 685,082 687,002
Cash at bank and in hand 1,568 2,659
686,650 689,661
Creditors: amounts falling due within one year 5 (5,340) (5,590)
Net current assets 681,310 684,071
Net assets 681,430 684,191
Capital and reserves
Called up share capital 100 100
Profit and loss account 681,330 684,091
Shareholders' funds 681,430 684,191
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V D Morzaria
Director
Approved by the board on 18 October 2023
NEWCROWN INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2022 120
At 31 January 2023 120
The investment in subsidiary undertakings relates to the investment in Newcrown Services Limited,
a company incorporated in the UK, and is 60% owned by Newcrown Investments Limited
The company has taken advantage of the exemption under section 402 of Companies Act 2006,
not to prepare Consolidated Accounts, as the group qualifies as a small group.
4 Debtors 2023 2022
£ £
Amount due from the related party (see note 6 below) 685,082 687,002
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,168 2,292
Other creditors 2,172 3,298
5,340 5,590
6 Related party transaction
(i) At the year end the company was owed £473,082 (2022- £ 475,002) by Newcrown Services Limited, a company which Newcrown Investments Limited owns 60% of shares. This amount is disclosed under note 4 above.
(ii) At the year end the company was owed £106,000 (2022- £106,000) by Shirade Properties Limited, a company under common control. This amount is disclosed under note 4 above.
(iii) At the year end the company was owed £106,000 (2022- £106,000) by Taraben Limited, a company under common control. This amount is disclosed under note 4 above.
7 Controlling party
There is no ultimate controlling party
8 Other information
NEWCROWN INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
7 Eversley Crescent
London
N21 1EL
NEWCROWN INVESTMENTS LIMITED 08359287 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 Mr V D Morzaria No description of principal activity 08359287 2021-02-01 2022-01-31 08359287 core:WithinOneYear 2022-01-31 08359287 core:ShareCapital 2022-01-31 08359287 core:RetainedEarningsAccumulatedLosses 2022-01-31 08359287 2022-02-01 2023-01-31 08359287 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 08359287 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 08359287 bus:Director40 2022-02-01 2023-01-31 08359287 1 2022-02-01 2023-01-31 08359287 2 2022-02-01 2023-01-31 08359287 countries:England 2022-02-01 2023-01-31 08359287 bus:FRS102 2022-02-01 2023-01-31 08359287 bus:FullAccounts 2022-02-01 2023-01-31 08359287 2023-01-31 08359287 core:WithinOneYear 2023-01-31 08359287 core:ShareCapital 2023-01-31 08359287 core:RetainedEarningsAccumulatedLosses 2023-01-31 08359287 2022-01-31 iso4217:GBP xbrli:pure