Registered number
04539179
Crown Construction (Lancs) Limited
Unaudited Filleted Accounts
30 September 2023
Crown Construction (Lancs) Limited
Registered number: 04539179
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,312 5,606
Current assets
Stocks 1,500 24,000
Debtors 4 6,214 3,864
Cash at bank and in hand 153,550 81,248
161,264 109,112
Creditors: amounts falling due within one year 5 (162,081) (110,321)
Net current liabilities (817) (1,209)
Total assets less current liabilities 3,495 4,397
Provisions for liabilities (1,142) (1,388)
Net assets 2,353 3,009
Capital and reserves
Called up share capital 202 202
Profit and loss account 2,151 2,807
Shareholders' funds 2,353 3,009
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.
Mr R Cuthbert
Director
Approved by the board on 9 February 2024
Crown Construction (Lancs) Limited
Notes to the Accounts
for the year ended 30 September 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:
Motor vehicles 25% on written down value
Tools & equipment 15% on written down value
Computer equipment 25% on written down value
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2022 931 8,328 32,413 41,672
At 30 September 2023 931 8,328 32,413 41,672
Depreciation
At 1 October 2022 795 7,250 28,021 36,066
Charge for the year 34 162 1,098 1,294
At 30 September 2023 829 7,412 29,119 37,360
Net book value
At 30 September 2023 102 916 3,294 4,312
At 30 September 2022 136 1,078 4,392 5,606
4 Debtors 2023 2022
£ £
Trade debtors 6,214 -
Other debtors - 3,864
6,214 3,864
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,595 35,649
Taxation and social security costs 47,622 8,824
Other creditors 103,864 65,848
162,081 110,321
6 Related party transactions
Messrs Cuthbert and Riding control the company by virtue of their shareholdings. During the year dividends totalling £114400 (2022: £24000) were declared and credited to the directors' non-interest paying loan accounts.
The directors make regular withdrawals against the loan account. At 30 September 2022 the company owed Mr Cuthbert £55569 (2022: £37051) and Mr Riding £47770 (2022: £26195).
7 Other information
Crown Construction (Lancs) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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