Registered number
05168520
CROWN INVESTMENTS (UK) LIMITED
Unaudited Filleted Accounts
31 July 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
CROWN INVESTMENTS (UK) LIMITED
Registered number: 05168520
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 212,181 213,689
Investments 5 1,000 1,000
213,181 214,689
Current assets
Debtors 6 5,950 4,500
Cash at bank and in hand 9,098 7,540
15,048 12,040
Creditors: amounts falling due within one year 7 (309,068) (324,403)
Net current liabilities (294,020) (312,363)
Net liabilities (80,839) (97,674)
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account (90,839) (107,674)
Shareholders' funds (80,839) (97,674)
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.
S Merali
Director
Approved by the board on 16 November 2023
CROWN INVESTMENTS (UK) LIMITED
Notes to the Accounts
for the year ended 31 July 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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Going Concern
Notwithstanding the net asset deficiency, the financial statements have been prepared on going concern basis, as in the opinion of the directors, the company has sufficient financial support from its creditors and shareholder to pay its debts as they fall due.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 207,656 13,107 220,763
At 31 July 2023 207,656 13,107 220,763
Depreciation
At 1 August 2022 - 7,074 7,074
Charge for the year - 1,508 1,508
At 31 July 2023 - 8,582 8,582
Net book value
At 31 July 2023 207,656 4,525 212,181
At 31 July 2022 207,656 6,033 213,689
5 Investments
Other
investments
£
Cost
At 1 August 2022 1,000
At 31 July 2023 1,000
The company held 100% shares (£1,000) in Crown Accountancy Services Limited which is incorporated in the United Kingdom.
6 Debtors 2023 2022
£ £
Trade debtors 5,950 4,500
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,009 407
Other creditors 308,059 323,996
309,068 324,403
8 Other information
CROWN INVESTMENTS (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
315
Park Avenue
Bushey
Hertfordshire
WD23 2DR
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