0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 15,246 15,246 xbrli:pure xbrli:shares iso4217:GBP 06128615 2022-03-01 2023-02-28 06128615 2023-02-28 06128615 2022-02-28 06128615 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06128615 core:FurnitureFittings 2022-03-01 2023-02-28 06128615 bus:Director1 2022-03-01 2023-02-28 06128615 bus:Director2 2022-03-01 2023-02-28 06128615 core:FurnitureFittings 2023-02-28 06128615 core:AfterOneYear 2023-02-28 06128615 core:AfterOneYear 2022-02-28 06128615 core:WithinOneYear 2023-02-28 06128615 core:WithinOneYear 2022-02-28 06128615 core:ShareCapital 2023-02-28 06128615 core:ShareCapital 2022-02-28 06128615 core:RetainedEarningsAccumulatedLosses 2023-02-28 06128615 core:RetainedEarningsAccumulatedLosses 2022-02-28 06128615 bus:SmallEntities 2022-03-01 2023-02-28 06128615 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 06128615 bus:FullAccounts 2022-03-01 2023-02-28 06128615 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 06128615 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 06128615
CROWN ENTERPRISE PARK LTD
Filleted Unaudited Financial Statements
28 February 2023
CROWN ENTERPRISE PARK LTD
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Current assets
Cash at bank and in hand
60,371
23,067
Creditors: Amounts falling due within one year
5
3,796
3,796
--------
--------
Net current assets
56,575
19,271
--------
--------
Total assets less current liabilities
56,575
19,271
Creditors: Amounts falling due after more than one year
6
423,459
463,719
---------
---------
Net liabilities
( 366,884)
( 444,448)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 366,984)
( 444,548)
---------
---------
Shareholders deficit
( 366,884)
( 444,448)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr G SINGH
Mr K CHAHAL
Director
Director
Company registration number: 06128615
CROWN ENTERPRISE PARK LTD
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is HAZARA HOUSE, 502 Dudley Road, Wolverhampton, WV2 3AA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold
-
2% straight line
Fixture and Fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
4. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 March 2022 and 28 February 2023
15,246
15,246
--------
--------
Depreciation
At 1 March 2022 and 28 February 2023
15,246
15,246
--------
--------
Carrying amount
At 28 February 2023
--------
--------
At 28 February 2022
--------
--------
5. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
2,476
2,476
Other creditors
1,320
1,320
-------
-------
3,796
3,796
-------
-------
6. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
32,240
42,500
Other creditors
391,219
421,219
---------
---------
423,459
463,719
---------
---------
7. Related party transactions
The company was under the control of Mr G Singh and Mr K Chahal throughout the current year. Mr G Singh and Mr K Chahal are the managing directors and majority shareholders. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.