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REGISTERED NUMBER: 03212465 (England and Wales)







Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Crown Labels Limited

Crown Labels Limited (Registered number: 03212465)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crown Labels Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr J P Board
Mr C R Board





SECRETARY: Mrs B Board





REGISTERED OFFICE: Unit 2 Nash Road
Park Farm North
Redditch
Worcestershire
B98 7AS





REGISTERED NUMBER: 03212465 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Crown Labels Limited (Registered number: 03212465)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 502 4,130
Tangible assets 5 455,724 498,949
456,226 503,079

CURRENT ASSETS
Stocks 6 90,739 72,483
Debtors 7 1,471,645 1,218,611
Cash at bank 27,471 84,561
1,589,855 1,375,655
CREDITORS
Amounts falling due within one year 8 1,251,232 1,009,232
NET CURRENT ASSETS 338,623 366,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

794,849

869,502

CREDITORS
Amounts falling due after more than one
year

9

(211,650

)

(321,484

)

PROVISIONS FOR LIABILITIES 10 (77,014 ) (83,960 )
NET ASSETS 506,185 464,058

CAPITAL AND RESERVES
Called up share capital 11 110 110
Retained earnings 12 506,075 463,948
SHAREHOLDERS' FUNDS 506,185 464,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Crown Labels Limited (Registered number: 03212465)

Balance Sheet - continued
28 February 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





Mr J P Board - Director


Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Crown Labels Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 20% on reducing balance and 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 69,387 6,255 75,642
AMORTISATION
At 1 March 2022 66,610 4,902 71,512
Amortisation for year 2,777 851 3,628
At 28 February 2023 69,387 5,753 75,140
NET BOOK VALUE
At 28 February 2023 - 502 502
At 28 February 2022 2,777 1,353 4,130

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 86,936 924,111 52,267 56,644 1,119,958
Additions - 10,787 - 795 11,582
At 28 February 2023 86,936 934,898 52,267 57,439 1,131,540
DEPRECIATION
At 1 March 2022 57,256 502,340 16,030 45,383 621,009
Charge for year 2,968 42,177 7,247 2,415 54,807
At 28 February 2023 60,224 544,517 23,277 47,798 675,816
NET BOOK VALUE
At 28 February 2023 26,712 390,381 28,990 9,641 455,724
At 28 February 2022 29,680 421,771 36,237 11,261 498,949

Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. STOCKS
28.2.23 28.2.22
£    £   
Stocks 90,739 72,483

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 776,935 680,439
Other debtors 2,582 -
Amount from parent undertaking 680,363 530,363
Prepayments 11,765 7,809
1,471,645 1,218,611

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 289,511 50,000
Hire purchase contracts 66,859 71,339
Trade creditors 627,919 654,472
Tax 108,033 90,504
Social security and other taxes 9,476 8,233
Pension control 2,167 1,734
VAT 71,705 48,958
Other creditors 60,000 60,000
Accrued expenses 15,562 23,992
1,251,232 1,009,232

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 62,500 112,500
Hire purchase contracts 99,150 158,984
211,650 321,484

10. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 77,014 83,960

Deferred
tax
£   
Balance at 1 March 2022 83,960
Accelerated capital allowances (6,946 )
Balance at 28 February 2023 77,014

Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary A Shares £1 100 100
5 Ordinary B Shares £1 5 5
5 Ordinary C Shares £1 5 5
110 110

12. RESERVES
Retained
earnings
£   

At 1 March 2022 463,948
Profit for the year 416,127
Dividends (374,000 )
At 28 February 2023 506,075

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Crown Label Holdings Limited, a company registered in England and Wales.