Crown Contracting (Yorkshire) Ltd 10839870 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the construction of civil engineering projects. Digita Accounts Production Advanced 6.30.9574.0 true true true 10839870 2022-04-01 2023-03-31 10839870 2023-03-31 10839870 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 10839870 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 10839870 core:CurrentFinancialInstruments 2023-03-31 10839870 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10839870 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10839870 core:FurnitureFittingsToolsEquipment 2023-03-31 10839870 core:MotorVehicles 2023-03-31 10839870 bus:SmallEntities 2022-04-01 2023-03-31 10839870 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10839870 bus:FullAccounts 2022-04-01 2023-03-31 10839870 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10839870 bus:RegisteredOffice 2022-04-01 2023-03-31 10839870 bus:Director1 2022-04-01 2023-03-31 10839870 bus:Director2 2022-04-01 2023-03-31 10839870 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10839870 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10839870 core:MotorVehicles 2022-04-01 2023-03-31 10839870 core:PlantMachinery 2022-04-01 2023-03-31 10839870 1 2022-04-01 2023-03-31 10839870 countries:EnglandWales 2022-04-01 2023-03-31 10839870 2022-03-31 10839870 core:FurnitureFittingsToolsEquipment 2022-03-31 10839870 core:MotorVehicles 2022-03-31 10839870 2021-04-01 2022-03-31 10839870 2022-03-31 10839870 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 10839870 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-03-31 10839870 core:CurrentFinancialInstruments 2022-03-31 10839870 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10839870 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 10839870 core:FurnitureFittingsToolsEquipment 2022-03-31 10839870 core:MotorVehicles 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 10839870

Crown Contracting (Yorkshire) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Crown Contracting (Yorkshire) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Crown Contracting (Yorkshire) Ltd

Company Information

Directors

Mr Michael Alan Reay

Mr David Andrew Ledden

Registered office

Unit B
12 Pavillion Square
Scarborough
North Yorkshire
YO11 2JT

 

Crown Contracting (Yorkshire) Ltd

(Registration number: 10839870)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

262,653

298,934

Current assets

 

Debtors

5

483,010

709,865

Cash at bank and in hand

 

1,410,009

803,294

 

1,893,019

1,513,159

Creditors: Amounts falling due within one year

6

(496,835)

(492,209)

Net current assets

 

1,396,184

1,020,950

Total assets less current liabilities

 

1,658,837

1,319,884

Creditors: Amounts falling due after more than one year

6

(37,963)

(51,140)

Provisions for liabilities

(27,664)

(11,635)

Net assets

 

1,593,210

1,257,109

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,593,110

1,257,009

Shareholders' funds

 

1,593,210

1,257,109

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 November 2023 and signed on its behalf by:
 

.........................................
Mr Michael Alan Reay
Director

 

Crown Contracting (Yorkshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 10839870.

The address of its registered office is:
Unit B
12 Pavillion Square
Scarborough
North Yorkshire
YO11 2JT

These financial statements were authorised for issue by the Board on 20 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Summary of disclosure exemptions

The Company has taken advantage of the exemptions available to subsidiary companies under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, not to prepare group accounts for a small group. .

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of contracting services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Crown Contracting (Yorkshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15%, 20% and 30% straight line basis

Motor Vehicles

20% staright line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for contracting services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Crown Contracting (Yorkshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 14 (2022 - 15).

 

Crown Contracting (Yorkshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

361,328

533,587

894,915

Additions

748

110,598

111,346

Disposals

(52,450)

(85,341)

(137,791)

At 31 March 2023

309,626

558,844

868,470

Depreciation

At 1 April 2022

163,919

432,062

595,981

Charge for the year

45,349

70,738

116,087

Eliminated on disposal

(35,076)

(71,175)

(106,251)

At 31 March 2023

174,192

431,625

605,817

Carrying amount

At 31 March 2023

135,434

127,219

262,653

At 31 March 2022

197,409

101,525

298,934

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

412,993

643,764

Amounts owed by related parties

8

52

39

Other debtors

 

69,965

66,062

 

483,010

709,865

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

206,834

181,699

Amounts owed to related parties

8

150,000

150,000

Taxation and social security

 

80,676

19,531

Other creditors

 

425

5,341

Accruals and deferred income

 

6,411

6,781

Other borrowings

7

179

179

HP and finance lease liabilities

 

52,310

128,678

 

496,835

492,209

 

Crown Contracting (Yorkshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

HP and finance lease liabilities

7

37,963

51,140

7

Loans and borrowings

2023
£

2022
£

Non-current secured and unsecured loans and borrowings

Obligations due under hire purchase agreements

37,963

51,140

2023
£

2022
£

Current secured and unsecured loans and borrowings

Obligations due under hire purchase agreements

52,310

128,678

Other borrowings

179

179

52,489

128,857

The hire purchase obligations are secured on the assets they relate to. Other borrowings relate to unsecured Director loan balances.

8

Related party transactions

Other transactions with Directors

At the year end, the net amount due to the Directors was £179 (2022: £179). The amount is unsecured, interest-free and repayable on demand.

Summary of transactions with parent

The company has taken advantage of the exemption available in FRS102 Section 1A from disclosing transactions with their parent entity.

Summary of transactions with other related parties

Crown Surfacing Limited (a Company under common control of the shareholders)

At the year end, the amount due from Crown Surfacing Limited was £52 (2022: £10,039). The amount is unsecured, interest-free and repayable on demand. Net sales in the period to Crown Surfacing Limited amounted to £91,958 (2022: £83,108). There were no purchases in the period from Crown Surfacing Limited.

Lane Rental Services Limited (M Reay is a company director)

At the year end, the amount due to Lane Rental Services Limited was £57,641 (2022: £71,248). The amount is unsecured, interest-free and repayable on demand. Net purchases from Lane Rental Services Limited amounted to £641,052 (2022: £770,758). There were no sales in the period to Lane Rental Services Limited.

 

Crown Contracting (Yorkshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Parent and ultimate parent undertaking

The Company's immediate and ultimate parent is Lane Rental Infrastructure Services Limited, incorporated in England and Wales.

  These financial statements are available upon request from its registered office address; Highway House Hereford Road, Pocklington Industrial Estate, Pocklington, York, United Kingdom, YO42 1NR