Crown Arbitrations Limited 02548931 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of consulting services to the construction industry. Digita Accounts Production Advanced 6.30.9574.0 true true 02548931 2023-01-01 2023-12-31 02548931 2023-12-31 02548931 core:CurrentFinancialInstruments 2023-12-31 02548931 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02548931 core:FurnitureFittingsToolsEquipment 2023-12-31 02548931 bus:SmallEntities 2023-01-01 2023-12-31 02548931 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02548931 bus:FilletedAccounts 2023-01-01 2023-12-31 02548931 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02548931 bus:RegisteredOffice 2023-01-01 2023-12-31 02548931 bus:Director1 2023-01-01 2023-12-31 02548931 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02548931 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 02548931 core:PlantMachinery 2023-01-01 2023-12-31 02548931 countries:AllCountries 2023-01-01 2023-12-31 02548931 2022-12-31 02548931 core:FurnitureFittingsToolsEquipment 2022-12-31 02548931 2022-01-01 2022-12-31 02548931 2022-12-31 02548931 core:CurrentFinancialInstruments 2022-12-31 02548931 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02548931 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02548931

Crown Arbitrations Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Crown Arbitrations Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Crown Arbitrations Limited

(Registration number: 02548931)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,521

10,625

Current assets

 

Debtors

5

8,786

7,745

Cash at bank and in hand

 

54,819

48,841

 

63,605

56,586

Creditors: Amounts falling due within one year

6

(28,546)

(27,785)

Net current assets

 

35,059

28,801

Total assets less current liabilities

 

43,580

39,426

Provisions for liabilities

(48)

(137)

Net assets

 

43,532

39,289

Capital and reserves

 

Called up share capital

200

200

Retained earnings

43,332

39,089

Shareholders' funds

 

43,532

39,289

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 September 2024
 

.........................................
T Doyle
Director

 

Crown Arbitrations Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Richmond House
High Street
Buckland Dinham
Frome
Somerset
BA11 2QR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Crown Arbitrations Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

10% and 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Crown Arbitrations Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

15,453

15,453

At 31 December 2023

15,453

15,453

Depreciation

At 1 January 2023

4,828

4,828

Charge for the year

2,104

2,104

At 31 December 2023

6,932

6,932

Net book value

At 31 December 2023

8,521

8,521

At 31 December 2022

10,625

10,625

 

Crown Arbitrations Limited

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

5

Debtors

2023
£

2022
£

Trade debtors

8,293

7,252

Other debtors

493

493

8,786

7,745

6

Creditors

Amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

115

115

Taxation and social security

26,008

22,356

Accruals and deferred income

2,215

1,100

Other creditors

208

4,214

28,546

27,785