Registered number
05533150
Crown Resources Limited
Unaudited Filleted Accounts
30 September 2023
Crown Resources Limited
Registered number: 05533150
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 600,002 600,002
Current assets
Stocks 50,000 57,500
Creditors: amounts falling due within one year 4 (175,258) (176,998)
Net current liabilities (125,258) (119,498)
Total assets less current liabilities 474,744 480,504
Creditors: amounts falling due after more than one year 5 (155,843) (168,944)
Provisions for liabilities (31,096) (31,096)
Net assets 287,805 280,464
Capital and reserves
Called up share capital 1 1
Revaluation reserve 7 265,295 265,295
Profit and loss account 22,509 15,168
Shareholder's funds 287,805 280,464
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 member has 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.
W J Foy
Director
Approved by the board on 9 August 2024
Crown Resources 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.
Investment Properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred tax on such gains or losses is recognised in accordance with the requirements of FRS 102.

The investment property fair value was determined by the directors by reference to current market prices for comparable property, adjusted for any differences in nature, location and condition.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 (i.e. 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 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost or valuation
At 1 October 2022 600,000 8,386 608,386
At 30 September 2023 600,000 8,386 608,386
Depreciation
At 1 October 2022 - 8,384 8,384
At 30 September 2023 - 8,384 8,384
Net book value
At 30 September 2023 600,000 2 600,002
At 30 September 2022 600,000 2 600,002
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 33,343 33,571
Taxation and social security costs 7,649 9,842
Other creditors 134,266 133,585
175,258 176,998
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 55,843 68,944
Other creditors 100,000 100,000
155,843 168,944
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 89,186 102,515
7 Revaluation reserve 2023 2022
£ £
At 1 October 2022 265,295 265,295
At 30 September 2023 265,295 265,295
8 Related party transactions
During the year the company charged The Wolf Furniture Company Limited £25,328 in rent and management charges.

M Erri is the sole shareholder and she and W J Foy are directors of The Wolf Furniture Company Limited.
9 Controlling party
The company was under the control of M Erri throughout the year.
10 Other information
Crown Resources Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Unit 8b
Vale Business Park
Llandow
Cowbridge
CF71 7PF
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