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REGISTERED NUMBER: 07111014 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CROWN WEALTH LIMITED

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CROWN WEALTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M Sellens





REGISTERED OFFICE: 30-34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 07111014 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 291,871 350,245
Tangible assets 5 68,929 90,619
Investments 6 5,535,887 4,639,482
5,896,687 5,080,346

CURRENT ASSETS
Debtors 7 198,903 185,306
Cash at bank 185,404 158,513
384,307 343,819
CREDITORS
Amounts falling due within one year 8 (603,038 ) (356,689 )
NET CURRENT LIABILITIES (218,731 ) (12,870 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,677,956

5,067,476

CREDITORS
Amounts falling due after more than one
year

9

(2,888,633

)

(2,920,983

)
NET ASSETS 2,789,323 2,146,493

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 297,836 297,836
Retained earnings 2,491,387 1,848,557
SHAREHOLDERS' FUNDS 2,789,323 2,146,493

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 director acknowledges his 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.

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2024 and were signed by:





M Sellens - Director


CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Crown Wealth 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. 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.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

A second acquisition of a business was made in 2011 and is being amortised evenly over its estimated useful life of 8 years.

A third acquisition of a business was made in 2014 and is being amortised evenly over its estimated useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 2,196,431
AMORTISATION
At 1 January 2023 1,846,186
Charge for year 58,374
At 31 December 2023 1,904,560
NET BOOK VALUE
At 31 December 2023 291,871
At 31 December 2022 350,245

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 49,892 103,330 53,850 207,072
Additions 200 - 1,637 1,837
At 31 December 2023 50,092 103,330 55,487 208,909
DEPRECIATION
At 1 January 2023 25,532 41,050 49,871 116,453
Charge for year 6,124 15,570 1,833 23,527
At 31 December 2023 31,656 56,620 51,704 139,980
NET BOOK VALUE
At 31 December 2023 18,436 46,710 3,783 68,929
At 31 December 2022 24,360 62,280 3,979 90,619

6. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings 4,500,172 3,677,562
Other investments not loans 1,035,715 961,920
5,535,887 4,639,482

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 3,677,562 538,020 4,215,582
Additions 822,610 - 822,610
At 31 December 2023 4,500,172 538,020 5,038,192
NET BOOK VALUE
At 31 December 2023 4,500,172 538,020 5,038,192
At 31 December 2022 3,677,562 538,020 4,215,582

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2020 1,484,562 275,000 1,759,562
Valuation in 2021 2,050,000 136,133 2,186,133
Valuation in 2022 143,000 126,887 269,887
Valuation in 2023 822,610 - 822,610
4,500,172 538,020 5,038,192

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Other investments 423,900 42,500
Other investment additions 73,795 381,400
497,695 423,900

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 145,315 163,218
Other debtors 4,658 4,658
149,973 167,876

Amounts falling due after more than one year:
Amounts owed by group undertakings 48,930 17,430

Aggregate amounts 198,903 185,306

CROWN WEALTH LIMITED (REGISTERED NUMBER: 07111014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 270,124 35,833
Hire purchase contracts 16,667 36,667
Trade creditors 2,288 57,340
Taxation and social security 310,317 223,124
Other creditors 3,642 3,725
603,038 356,689

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,888,633 2,920,983

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,888,633 2,920,983

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 297,836

12. ULTIMATE CONTROLLING PARTY

The controlling party is M Sellens.