Registration number:
Crown Contracting (Yorkshire) Ltd
for the Year Ended 31 March 2024
Crown Contracting (Yorkshire) Ltd
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Crown Contracting (Yorkshire) Ltd
Company Information
Directors |
Mr Michael Alan Reay Mr David Andrew Ledden |
Registered office |
|
Crown Contracting (Yorkshire) Ltd
(Registration number: 10839870)
Balance Sheet as at 31 March 2024
2024 |
2023 |
|
Fixed assets |
||
Tangible assets |
|
|
Current assets |
||
Debtors |
|
|
Cash at bank and in hand |
|
|
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
Net current assets |
|
|
Total assets less current liabilities |
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
Provisions for liabilities |
( |
( |
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
100 |
100 |
Retained earnings |
1,808,502 |
1,587,774 |
Shareholders' funds |
1,808,602 |
1,587,874 |
For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Crown Contracting (Yorkshire) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 10839870.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Summary of disclosure exemptions
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 provision of contracting 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 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.
Crown Contracting (Yorkshire) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position 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 Machinery |
15%, 20% and 30% straight line basis |
Motor Vehicles |
20% staright line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand.
Trade debtors
Trade debtors are amounts due from customers for contracting 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.
Crown Contracting (Yorkshire) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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.
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.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Crown Contracting (Yorkshire) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Tangible assets |
Plant and machinery |
Motor vehicles |
Total |
|
Cost or valuation |
|||
At 1 April 2023 |
|
|
|
Additions |
- |
|
|
Disposals |
( |
- |
( |
At 31 March 2024 |
|
|
|
Depreciation |
|||
At 1 April 2023 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
- |
( |
At 31 March 2024 |
|
|
|
Carrying amount |
|||
At 31 March 2024 |
|
|
|
At 31 March 2023 |
|
|
|
Debtors |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
Amounts owed by related parties |
|
|
|
Other debtors |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts owed to Company undertakings and undertakings in which the Company has a participating interest |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Crown Contracting (Yorkshire) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2024 |
2023 |
|
Non-current loans and borrowings |
||
Obligations due under hire purchase agreements |
|
|
2024 |
2023 |
|
Current loans and borrowings |
||
Obligations due under hire purchase agreements |
|
|
Other borrowings |
|
|
|
|
The hire purchase obligations are secured on the assets they relate to. Other borrowings relate to unsecured Director loan balances.
Related party transactions |
Other transactions with Directors |
At the year end, the net amount due to the Directors was £179 (2023: £179). The amount is unsecured, interest-free and repayable on demand.
Summary of transactions with parent company
Summary of transactions with other related parties
At the year end, the amount due from Crown Surfacing Limited was £30,052 (2023: £52). The amount is unsecured, interest-free and repayable on demand. Net sales in the period to Crown Surfacing Limited amounted to £43,333 (2023: £91,958). Purchases in the period to Crown Surfacing Limited amounted to £Nil (2023: £Nil).
Lane Rental Services Limited (M Reay is a company director)
At the year end, the amount due to Lane Rental Services Limited was £74,242 (2023: £57,641). This amount is unsecured, interest-free and repayable on demand. Net sales in the period to Lane Rental Services Limited amounted to £Nil (2023: £Nil). Purchases in the period from Lane Rental Services Limited amounted to £637,245 (2023: £608,233).
Crown Contracting (Yorkshire) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Parent and ultimate parent undertaking |
The Company's immediate and ultimate parent is
These financial statements are available upon request from its registered office address; Highway House Hereford Road, Pocklington Industrial Estate, Pocklington, York, United Kingdom, YO42 1NR