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REGISTERED NUMBER: 01764808 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Crownmark Developments Limited

Crownmark Developments Limited (Registered number: 01764808)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Crownmark Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms S D Worden
Ms C S Worden-Evans
A D Worden
G K Worden





SECRETARY: A D Worden





REGISTERED OFFICE: Bos Eglos
Kenwyn Church Road
TRURO
Cornwall
TR1 3DR





REGISTERED NUMBER: 01764808 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

Crownmark Developments Limited (Registered number: 01764808)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,643 8,500
Investments 6 262,722 292,722
Investment property 7 1,052,750 1,052,750
1,322,115 1,353,972

CURRENT ASSETS
Stocks 96,091 96,091
Debtors 8 9,546 9,329
Cash at bank 85,641 57,142
191,278 162,562
CREDITORS
Amounts falling due within one year 9 32,266 52,708
NET CURRENT ASSETS 159,012 109,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,481,127

1,463,826

CAPITAL AND RESERVES
Called up share capital 510 510
Fair value reserve 10 68,319 68,319
Retained earnings 1,412,298 1,394,997
1,481,127 1,463,826

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.

Crownmark Developments Limited (Registered number: 01764808)

Balance Sheet - continued
31 December 2023


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.

Crownmark Developments Limited (Registered number: 01764808)

Balance Sheet - continued
31 December 2023



The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





A D Worden - Director


Crownmark Developments Limited (Registered number: 01764808)

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

1. STATUTORY INFORMATION

Crownmark Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is exempt by virtue of section 248 of the Companies Act 1985 from the requirement to prepare group accounts on the grounds it qualifies as a small group. These financial statements present information about the company as an individual undertaking and not as a group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Crownmark Developments Limited (Registered number: 01764808)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Taxation
The charge for taxation is based on the result for the year. Provision is made for deferred tax only to the extent that it is probable that an actual liability will crystallise.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 52,192
Additions 4,553
At 31 December 2023 56,745
DEPRECIATION
At 1 January 2023 43,692
Charge for year 6,410
At 31 December 2023 50,102
NET BOOK VALUE
At 31 December 2023 6,643
At 31 December 2022 8,500

Crownmark Developments Limited (Registered number: 01764808)

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

6. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings 5 5
Loans to undertakings in which the
company has a participating interest

262,717

292,717
262,722 292,722

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 5
NET BOOK VALUE
At 31 December 2023 5
At 31 December 2022 5
Loans to
associates
£   
At 1 January 2023 292,717
Repayment in year (30,000 )
At 31 December 2023 262,717

The loans to undertakings in which the company has a participating interest are as follows:

Loan to The Roundhouse (Truro) Limited of £262,717 (2022: £292,717)

The shares in group undertakings consist of £3 which is a 100% investment in the share capital of The Roundhouse (Truro) Limited and an additional £2 paid in respect of stamp duty.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,052,750
NET BOOK VALUE
At 31 December 2023 1,052,750
At 31 December 2022 1,052,750

Crownmark Developments Limited (Registered number: 01764808)

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

7. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 1,092,000
Valuation in 2017 14,400
Valuation in 2018 (53,650 )
1,052,750

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 984,431 984,431

The investment property was valued on an open market basis on 31 December 2023 by the directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 9,546 9,329

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 14,992 23,649
Other creditors 17,274 29,059
32,266 52,708

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 68,319