2
01/04/2023
31/03/2024
2024-03-31
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No description of principal activities is disclosed
2023-04-01
Sage Accounts Production 24.0 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
01980680
2023-04-01
2024-03-31
01980680
2024-03-31
01980680
2023-03-31
01980680
2022-04-01
2023-03-31
01980680
2023-03-31
01980680
2022-03-31
01980680
core:LandBuildings
core:LongLeaseholdAssets
2023-04-01
2024-03-31
01980680
core:PlantMachinery
2023-04-01
2024-03-31
01980680
core:FurnitureFittingsToolsEquipment
2023-04-01
2024-03-31
01980680
core:MotorVehicles
2023-04-01
2024-03-31
01980680
bus:RegisteredOffice
2023-04-01
2024-03-31
01980680
bus:Director1
2023-04-01
2024-03-31
01980680
bus:Director2
2023-04-01
2024-03-31
01980680
bus:CompanySecretary1
2023-04-01
2024-03-31
01980680
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
01980680
core:PlantMachinery
2023-03-31
01980680
core:FurnitureFittingsToolsEquipment
2023-03-31
01980680
core:MotorVehicles
2023-03-31
01980680
core:LandBuildings
core:LongLeaseholdAssets
2024-03-31
01980680
core:PlantMachinery
2024-03-31
01980680
core:FurnitureFittingsToolsEquipment
2024-03-31
01980680
core:MotorVehicles
2024-03-31
01980680
core:WithinOneYear
2024-03-31
01980680
core:WithinOneYear
2023-03-31
01980680
core:AfterOneYear
2024-03-31
01980680
core:AfterOneYear
2023-03-31
01980680
core:ShareCapital
2024-03-31
01980680
core:ShareCapital
2023-03-31
01980680
core:RetainedEarningsAccumulatedLosses
2024-03-31
01980680
core:RetainedEarningsAccumulatedLosses
2023-03-31
01980680
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
01980680
core:Non-currentFinancialInstruments
2024-03-31
01980680
core:Non-currentFinancialInstruments
2023-03-31
01980680
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
01980680
core:PlantMachinery
2023-03-31
01980680
core:FurnitureFittingsToolsEquipment
2023-03-31
01980680
core:MotorVehicles
2023-03-31
01980680
bus:Director1
2024-03-31
01980680
bus:Director1
2023-03-31
01980680
bus:SmallEntities
2023-04-01
2024-03-31
01980680
bus:AuditExempt-NoAccountantsReport
2023-04-01
2024-03-31
01980680
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
01980680
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
01980680
bus:FullAccounts
2023-04-01
2024-03-31
Company registration number:
01980680
Crown River Cruises Limited
Unaudited filleted financial statements
31 March 2024
Crown River Cruises Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Crown River Cruises Limited
Directors and other information
|
|
|
|
Directors |
Mr R A Prentice |
|
|
Mr C G Newens |
|
|
|
|
|
|
|
Secretary |
Mr R A Prentice |
|
|
|
|
|
|
|
Company number |
01980680 |
|
|
|
|
|
|
|
Registered office |
Crown River Cruises |
|
|
Tower Pier |
|
|
London |
|
|
EC3N 4DT |
|
|
|
Crown River Cruises Limited
Statement of financial position
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
467,937 |
|
|
|
524,348 |
|
|
Investments |
|
6 |
400 |
|
|
|
400 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
468,337 |
|
|
|
524,748 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
907,540 |
|
|
|
823,368 |
|
|
Cash at bank and in hand |
|
|
960,747 |
|
|
|
538,533 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,868,287 |
|
|
|
1,361,901 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
392,516) |
|
|
|
(
317,619) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
1,475,771 |
|
|
|
1,044,282 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,944,108 |
|
|
|
1,569,030 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
12,498) |
|
|
|
(
22,498) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
116,984) |
|
|
|
(
99,626) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,814,626 |
|
|
|
1,446,906 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
102 |
|
|
|
102 |
Profit and loss account |
|
|
|
|
1,814,524 |
|
|
|
1,446,804 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
1,814,626 |
|
|
|
1,446,906 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 January 2025
, and are signed on behalf of the board by:
Mr R A Prentice
Director
Company registration number:
01980680
Crown River Cruises Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crown River Cruises, Tower Pier, London, EC3N 4DT.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the invoiced value, net of Value Added Tax, of goods and services provided to customers.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Pier and riverworks |
- |
4 % |
straight line |
|
Cruiser vessels |
- |
5 % |
straight line |
|
Fittings fixtures and equipment |
- |
20 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2023 |
30,000 |
2,701,479 |
43,650 |
17,620 |
2,792,749 |
|
|
|
Additions |
- |
- |
- |
27,230 |
27,230 |
|
|
|
Disposals |
- |
- |
- |
(
17,620) |
(
17,620) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2024 |
30,000 |
2,701,479 |
43,650 |
27,230 |
2,802,359 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 |
28,800 |
2,184,057 |
42,329 |
13,215 |
2,268,401 |
|
|
|
Charge for the year |
1,200 |
70,767 |
461 |
6,808 |
79,236 |
|
|
|
Disposals |
- |
- |
- |
(
13,215) |
(
13,215) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2024 |
30,000 |
2,254,824 |
42,790 |
6,808 |
2,334,422 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
- |
446,655 |
860 |
20,422 |
467,937 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2023 |
1,200 |
517,422 |
1,321 |
4,405 |
524,348 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
6.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
400 |
400 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
400 |
400 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
400 |
400 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
14,656 |
3,512 |
|
Other debtors |
|
654,028 |
568,386 |
|
|
|
_______ |
_______ |
|
|
|
668,684
|
571,898
|
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
10,002 |
|
Trade creditors |
|
77,668 |
40,143 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
(
238,856) |
(
251,470) |
|
Corporation tax |
|
276,903 |
238,000 |
|
Social security and other taxes |
|
1,636 |
3,085 |
|
Other creditors |
|
26,309 |
26,389 |
|
|
|
_______ |
_______ |
|
|
|
153,660
|
66,149
|
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
12,498 |
22,498 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
|
Balance brought forward and o/standing |
Balance brought forward and o/standing |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Mr R A Prentice |
20,932 |
20,932 |
|
|
_______ |
_______ |
|
|
|
|
11.
Related party transactions
During the year, the company provided services of £1,064,922 (2023: £548,419) to Circular Cruises Westminster, a joint venture in which the company is entitled to 50% of the profits or losses. As at the balance sheet date, the company was owed £552,544 (2023: £369,930) by Circular Cruises Westminster and was owed £238,856 (2023: £251,470) by Thames River Services Association.