Registered number
08512275
Crown Fit Out Ltd
Filleted Accounts
31 May 2024
Crown Fit Out Ltd
Registered number: 08512275
Balance Sheet
as at 31 May 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 - 4,006
Current assets
Debtors 4 206,063 448,397
Cash at bank and in hand 135,204 1,949
341,267 450,346
Creditors: amounts falling due within one year 5 (42,171) (91,373)
Net current assets 299,096 358,973
Net assets 299,096 362,979
Capital and reserves
Called up share capital 100 100
Profit and loss account 298,996 362,879
Shareholder's funds 299,096 362,979
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Lewis Smith
Director
Approved by the board on 27 February 2025
Crown Fit Out Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 20% on reducing balance
Motor vehicles 20% on reducing balance
Fixtures and equipment 20% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 5,405 2,618 9,225 17,248
At 31 May 2024 5,405 2,618 9,225 17,248
Depreciation
At 1 December 2022 3,772 838 8,632 13,242
On disposals 1,633 1,780 593 4,006
At 31 May 2024 5,405 2,618 9,225 17,248
Net book value
At 31 May 2024 - - - -
At 30 November 2022 1,633 1,780 593 4,006
4 Debtors 2024 2022
£ £
Trade debtors - 422,603
Prepayments - 3,104
Other debtors 206,063 22,690
206,063 448,397
5 Creditors: amounts falling due within one year 2024 2022
£ £
Trade creditors - 2,345
Taxation and social security costs 38,871 76,426
Accruals 3,300 3,300
Other creditors - 9,302
42,171 91,373
6 Controlling party
Mr. Lewis Smith is the ultimate controlling party.
Crown Fit Out Ltd 08512275 false 2022-12-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr. Lewis Smith No description of principal activity 08512275 2021-12-01 2022-11-30 08512275 core:WithinOneYear 2022-11-30 08512275 core:ShareCapital 2022-11-30 08512275 core:RetainedEarningsAccumulatedLosses 2022-11-30 08512275 2022-12-01 2024-05-31 08512275 bus:PrivateLimitedCompanyLtd 2022-12-01 2024-05-31 08512275 bus:AuditExemptWithAccountantsReport 2022-12-01 2024-05-31 08512275 bus:Director40 2022-12-01 2024-05-31 08512275 1 2022-12-01 2024-05-31 08512275 2 2022-12-01 2024-05-31 08512275 core:LandBuildings 2022-12-01 2024-05-31 08512275 core:PlantMachinery 2022-12-01 2024-05-31 08512275 core:Vehicles 2022-12-01 2024-05-31 08512275 bus:FRS102 2022-12-01 2024-05-31 08512275 bus:FilletedAccounts 2022-12-01 2024-05-31 08512275 2024-05-31 08512275 core:WithinOneYear 2024-05-31 08512275 core:ShareCapital 2024-05-31 08512275 core:RetainedEarningsAccumulatedLosses 2024-05-31 08512275 core:LandBuildings 2024-05-31 08512275 core:PlantMachinery 2024-05-31 08512275 core:Vehicles 2024-05-31 08512275 2022-11-30 08512275 core:LandBuildings 2022-11-30 08512275 core:PlantMachinery 2022-11-30 08512275 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure