REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Derek Crowson Limited |
REGISTERED NUMBER: |
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 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Investments | 7 |
Cash at bank |
Creditors: amounts falling due within one year |
8 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Derek Crowson Limited (Registered number: 01996580) |
Balance Sheet - continued |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Capital and reserves |
Called up share capital | 9 |
Share premium |
Fair value reserve | 10 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
Registered number: |
Registered office: |
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 |
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 |
4. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 January 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
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 |
Revaluations | 50,000 |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
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 |
Other debtors |
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 |
Other creditors |
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: | £ | £ |
Ordinary | £1 | 103 | 103 |
10. | Reserves |
Fair |
value |
reserve |
£ |
At 1 January 2023 |
Transfer from retained earnings | 37,725 |
At 31 December 2023 |
11. | Related party disclosures |
At the year end, the company owed the director £289,440 (2022: £561,301). |