2023-02-012024-01-312024-01-31false03695086CROWN EXECUTIVE CARS 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CROWN EXECUTIVE CARS LIMITED

Registered Number
03695086
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

CROWN EXECUTIVE CARS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

FACCI, Gillian

Company Secretary

SHAW, Diane

Registered Address

35 Saint Leonards Road
Northampton
Northamptonshire
NN4 8DL

Registered Number

03695086 (England and Wales)
CROWN EXECUTIVE CARS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets369,50845,126
69,50845,126
Current assets
Stocks44,4252,522
Debtors24,61627,960
Cash at bank and on hand94,34746,570
123,38877,052
Creditors amounts falling due within one year5(61,840)(45,724)
Net current assets (liabilities)61,54831,328
Total assets less current liabilities131,05676,454
Creditors amounts falling due after one year6(78,463)(54,942)
Provisions for liabilities8(13,206)(8,574)
Net assets39,38712,938
Capital and reserves
Called up share capital22
Profit and loss account39,38512,936
Shareholders' funds39,38712,938
The financial statements were approved and authorised for issue by the Director on 11 March 2024, and are signed on its behalf by:
FACCI, Gillian
Director
Registered Company No. 03695086
CROWN EXECUTIVE CARS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from 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. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Land & buildings

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 2341,479162,74411,906216,129
Additions-56,939-56,939
At 31 January 2441,479219,68311,906273,068
Depreciation and impairment
At 01 February 2337,984121,11311,906171,003
Charge for year65031,908-32,558
Other adjustments(1)--(1)
At 31 January 2438,633153,02111,906203,560
Net book value
At 31 January 242,84666,662-69,508
At 31 January 233,49541,631-45,126
4.Stocks

2024

2023

££
Raw materials and consumables4,4252,522
Total4,4252,522
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,63613,784
Taxation and social security15,40822,099
Finance lease and HP contracts18,1606,660
Other creditors2,9862,575
Accrued liabilities and deferred income650606
Total61,84045,724
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts37,13642,732
Other creditors41,32712,210
Total78,46354,942
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts41,32612,210
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)13,2068,574
Total13,2068,574