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REGISTERED NUMBER: 03212465 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Crown Labels Limited

Crown Labels Limited (Registered number: 03212465)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crown Labels Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr J P Board
Mr C R Board





SECRETARY: Mrs B Board





REGISTERED OFFICE: Unit 2 Nash Road
Park Farm North
Redditch
Worcestershire
B98 7AS





REGISTERED NUMBER: 03212465 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Crown Labels Limited (Registered number: 03212465)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,030 502
Tangible assets 5 500,630 455,724
524,660 456,226

CURRENT ASSETS
Stocks 95,992 90,739
Debtors 6 1,377,865 1,471,645
Cash at bank and in hand 18,278 27,471
1,492,135 1,589,855
CREDITORS
Amounts falling due within one year 7 1,140,932 1,251,232
NET CURRENT ASSETS 351,203 338,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

875,863

794,849

CREDITORS
Amounts falling due after more than one
year

8

(145,325

)

(211,650

)

PROVISIONS FOR LIABILITIES 10 (113,981 ) (77,014 )
NET ASSETS 616,557 506,185

CAPITAL AND RESERVES
Called up share capital 11 110 110
Retained earnings 616,447 506,075
SHAREHOLDERS' FUNDS 616,557 506,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Crown Labels Limited (Registered number: 03212465)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:





Mr J P Board - Director


Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Crown Labels 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.

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 2013, was being amortised evenly over its estimated useful life of ten 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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 20% on reducing balance and 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost and 20% on reducing balance

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 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.

Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 21 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 March 2023 69,387 6,255 75,642
Additions - 29,536 29,536
At 29 February 2024 69,387 35,791 105,178
AMORTISATION
At 1 March 2023 69,387 5,753 75,140
Amortisation for year - 6,008 6,008
At 29 February 2024 69,387 11,761 81,148
NET BOOK VALUE
At 29 February 2024 - 24,030 24,030
At 28 February 2023 - 502 502

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 86,936 934,898 52,267 57,439 1,131,540
Additions - 93,742 - 12,469 106,211
At 29 February 2024 86,936 1,028,640 52,267 69,908 1,237,751
DEPRECIATION
At 1 March 2023 60,224 544,517 23,277 47,798 675,816
Charge for year 2,672 48,413 5,798 4,422 61,305
At 29 February 2024 62,896 592,930 29,075 52,220 737,121
NET BOOK VALUE
At 29 February 2024 24,040 435,710 23,192 17,688 500,630
At 28 February 2023 26,712 390,381 28,990 9,641 455,724

Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 664,814 776,935
Other debtors 713,051 694,710
1,377,865 1,471,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 170,288 289,511
Hire purchase contracts (see note 9) 81,453 66,859
Trade creditors 667,660 627,919
Taxation and social security 150,784 191,381
Other creditors 70,747 75,562
1,140,932 1,251,232

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 62,500 112,500
Hire purchase contracts (see note 9) 82,825 99,150
145,325 211,650

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 81,453 66,859
Between one and five years 82,825 99,150
164,278 166,009

Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 1,478 10,964
Between one and five years - 1,353
1,478 12,317

Operating lease payments recognised as an expense in the year totalled £14,547 (2023: £16,660)

Crown Labels Limited (Registered number: 03212465)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 113,981 77,014

Deferred
tax
£   
Balance at 1 March 2023 77,014
Accelerated capital allowances 36,967
Balance at 29 February 2024 113,981

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary A Shares £1 100 100
5 Ordinary B Shares £1 5 5
5 Ordinary C Shares £1 5 5
110 110

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Crown Label Holdings Limited, a company registered in England and Wales.