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REGISTERED NUMBER: 01996580 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Derek Crowson Limited

Derek Crowson Limited (Registered number: 01996580)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Derek Crowson Limited (Registered number: 01996580)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investments 4 3,700 3,700
Investment property 5 13,300,000 13,250,000
13,303,700 13,253,700

Current assets
Debtors 6 344,769 350,989
Investments 7 2,531,249 1,504,998
Cash at bank 250,920 365,374
3,126,938 2,221,361
Creditors: amounts falling due within
one year

8

1,711,665

1,781,279
Net current assets 1,415,273 440,082
Total assets less current liabilities 14,718,973 13,693,782

Provisions for liabilities 343,736 331,461
Net assets 14,375,237 13,362,321

Derek Crowson Limited (Registered number: 01996580)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 9 103 103
Share premium 149,889 149,889
Fair value reserve 10 4,307,222 4,269,497
Retained earnings 9,918,023 8,942,832
Shareholders' funds 14,375,237 13,362,321

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





J E Eden - Director


Derek Crowson Limited (Registered number: 01996580)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Derek Crowson Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01996580

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Derek Crowson Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration for rental income receivable during the year, stated net of discounts and of Value Added Tax.

Investment property
Investment property is shown at fair value at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Fixed asset investments
Fixed asset investments are shown at cost less any accumulated impairment.

Current asset investments
Current asset investments are shown at fair value at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Derek Crowson Limited (Registered number: 01996580)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Fixed asset investments
Other
investments
£   
Cost
At 1 January 2023
and 31 December 2023 3,700
Net book value
At 31 December 2023 3,700
At 31 December 2022 3,700


Derek Crowson Limited (Registered number: 01996580)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. Investment property
Total
£   
Fair value
At 1 January 2023 13,250,000
Revaluations 50,000
At 31 December 2023 13,300,000
Net book value
At 31 December 2023 13,300,000
At 31 December 2022 13,250,000

The investment properties are valued at fair value based on open market value of similar properties. The year end valuations were made by the directors. The fair value adjustment included in the profit and loss account was a profit of £50,000 (2022: £50,000)

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 185,670 185,757
Other debtors 159,099 165,232
344,769 350,989

7. Current asset investments
2023 2022
£    £   
Listed investments 2,531,249 1,504,998

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Taxation and social security 315,559 59,804
Other creditors 1,396,106 1,721,475
1,711,665 1,781,279

Derek Crowson Limited (Registered number: 01996580)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
103 Ordinary £1 103 103

10. Reserves
Fair
value
reserve
£   
At 1 January 2023 4,269,497
Transfer from retained earnings 37,725

At 31 December 2023 4,307,222

11. Related party disclosures

At the year end, the company owed the director £289,440 (2022: £561,301).