REGISTERED NUMBER: |
Crown Parks (Estates) Limited |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
REGISTERED NUMBER: |
Crown Parks (Estates) Limited |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
Crown Parks (Estates) Limited (Registered number: SC318304) |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Crown Parks (Estates) Limited |
Company Information |
for the Year Ended 31 August 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Crown Parks (Estates) Limited (Registered number: SC318304) |
Statement of Financial Position |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
PROVISIONS FOR LIABILITIES |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | ( |
) |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
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 |
Crown Parks (Estates) Limited (Registered number: SC318304) |
Notes to the Financial Statements |
for the Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Crown Parks (Estates) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared adopting the going concern principle despite the balance sheet showing an excess of liabilities over assets of £271,642. The current liabilities include amounts of £621,642 owed to group companies.The directors have confirmed the continued support of the group companies and that amounts due will not be repayable by the company until cash flow and profitability allow. |
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. |
The company was dormant throughout the current year and previous year. |
Tangible fixed assets |
Land and buildings | - |
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. |
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.In years where an independent valuation was not sought the freehold property is revalued on a fair value basis by the director. |
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss. |
Financial instruments |
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement. |
Crown Parks (Estates) Limited (Registered number: SC318304) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
2. | ACCOUNTING POLICIES - continued |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1 September 2022 |
Revaluations | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
The freehold property was valued by an independent valuer on an open market basis in May 2021 and was revalued on a fair value basis by the directors on 31 August 2023. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
6. | SECURED DEBTS |
The property is held as security, in favour of the Clydesdale Bank, with regards to the bank loan included in the parent company's accounts. |
Crown Parks (Estates) Limited (Registered number: SC318304) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
7. | ULTIMATE CONTROLLING PARTY |
Crown Parks (Estates) Limited is a 100% owned subsidiary of the parent undertaking, Crown Parks Limited, a company incorporated in Scotland with its registered office at Seaton House, Seaton Estate, Seaton Road, Arbroath, Angus, 0D11 SSE. |