Company registration number 8487917 (England and Wales)
CROWNFIELD HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
CROWNFIELD HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CROWNFIELD HOMES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
80
Investment property
4
303,000
194,040
303,000
194,120
Current assets
Cash at bank and in hand
11,383
172,955
Creditors: amounts falling due within one year
5
(5,236)
(10,404)
Net current assets
6,147
162,551
Total assets less current liabilities
309,147
356,671
Creditors: amounts falling due after more than one year
6
(80,113)
(138,658)
Provisions for liabilities
(8,776)
(4,772)
Net assets
220,258
213,241
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
220,158
213,141
Total equity
220,258
213,241

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 10 July 2024
Mr J L W Wittwer
Director
Company registration number 8487917 (England and Wales)
CROWNFIELD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Crownfield Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Limes Road, Folkestone, Kent, England, CT19 4AU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
3yrs SL
1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CROWNFIELD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 1).

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
2,360
Depreciation and impairment
At 1 May 2023
2,280
Depreciation charged in the year
80
At 30 April 2024
2,360
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
80
CROWNFIELD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 May 2023
194,040
Additions
172,625
Disposals
(83,940)
Revaluations
20,275
At 30 April 2024
303,000

Investment property comprises 2 properties. The fair value of the investment property has been arrived at with the use of a house price index. These valuations show a close similarity to the open market value of similar properties.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,295
2,233
Corporation tax
132
6,263
Other creditors
2,809
1,908
5,236
10,404
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,613
14,908
Other creditors
67,500
123,750
80,113
138,658
2024-04-302023-05-01false10 July 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr Jason Leon Wittwerfalsefalse84879172023-05-012024-04-3084879172024-04-3084879172023-04-308487917core:OtherPropertyPlantEquipment2024-04-308487917core:OtherPropertyPlantEquipment2023-04-308487917core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-308487917core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-308487917core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-308487917core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-308487917core:CurrentFinancialInstruments2024-04-308487917core:CurrentFinancialInstruments2023-04-308487917core:Non-currentFinancialInstruments2024-04-308487917core:Non-currentFinancialInstruments2023-04-308487917core:ShareCapital2024-04-308487917core:ShareCapital2023-04-308487917core:RetainedEarningsAccumulatedLosses2024-04-308487917core:RetainedEarningsAccumulatedLosses2023-04-308487917bus:Director12023-05-012024-04-308487917core:ComputerEquipment2023-05-012024-04-3084879172022-05-012023-04-308487917core:OtherPropertyPlantEquipment2023-04-308487917core:OtherPropertyPlantEquipment2023-05-012024-04-3084879172023-04-308487917bus:PrivateLimitedCompanyLtd2023-05-012024-04-308487917bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-308487917bus:FRS1022023-05-012024-04-308487917bus:AuditExemptWithAccountantsReport2023-05-012024-04-308487917bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP