Registered number
10799990
CROWNLAND HOMES LIMITED
Filleted Accounts
27 February 2024
CROWNLAND HOMES LIMITED
Registered number: 10799990
Balance Sheet
as at 27 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,031,165 6,031,165
Investments 4 50 50
6,031,215 6,031,215
Current assets
Debtors 5 3,523,472 3,828,377
Cash at bank and in hand 12,495 397,128
3,535,967 4,225,505
Creditors: amounts falling due within one year 6 (1,161,172) (1,963,813)
Net current assets 2,374,795 2,261,692
Total assets less current liabilities 8,406,010 8,292,907
Creditors: amounts falling due after more than one year 7 (4,581,805) (4,581,805)
Net assets 3,824,205 3,711,102
Capital and reserves
Called up share capital 580 580
Prior Period Adjustment 63,740 -
Profit and loss account 3,759,885 3,710,522
Shareholder's funds 3,824,205 3,711,102
The directors are 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 directors acknowledge their 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.
Prabhjot Singh Sagoo
Director
Approved by the board on 5 March 2025
CROWNLAND HOMES LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 27 February 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 represents rent receivable.
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:
Freehold buildings NIL
Leasehold land and buildings NIL
Investment properties
Investment properties are revalued annually for the fair value and the surplus or deficit is transferred to the profit and loss account. No depreciation is provided in respect of the investment properties.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 6,031,165
At 27 February 2024 6,031,165
Depreciation
At 27 February 2024 -
Net book value
At 27 February 2024 6,031,165
At 28 February 2023 6,031,165
The investment properties were measured for fair value by the directors using the recent market transaction and in their opinion the fair value of these investment properties are correctly stated at the balance sheet date.
4 Investments
Other
investments
£
Cost
At 1 March 2023 50
At 27 February 2024 50
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 600,205 600,505
Other debtors 2,923,267 3,227,872
3,523,472 3,828,377
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 10,790 249,237
Other creditors 1,158,595 1,448,149
Directors loan account (8,213) 266,427
1,161,172 1,963,813
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,581,805 4,581,805
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 4,581,805 4,581,805
Bank loan is secured by way of fixed charge against the properties owned by the company and also contains negative pledge.
9 Related party transactions 2024 2023
£ £
Crownland Properties Ltd
Common director
Included within other debtors is a on demand loan receivable of: 1,610,060 1,610,060
Crownland Properties Holdings Ltd
Common director
Included within other creditors is a on demand amount payable of: 512,673 456,537
Psquared2 Ltd
Common director
During the period Psquared2 Ltd charged management fees of: 18,000 18,000
Prabhjot Singh Sagoo
Director
Included within debtors is an mount due to the company by the director of: 8,213 -
Included within creditors is an amount due to the director of: - 266,427
Ruislip Real Estate Limited
Common Director
Included within amount due from group undertaking is an interest free and payable on demand loan of: 600,505 600,505
10 Controlling party
The company is under the control of Crownland Homes Holdings Limited, a company incorporated in England and Wales. The group being small has taken exemption from preparing the consolidated accounts.
11 Other information
CROWNLAND HOMES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
65 Delamere Road
Hayes
Middlesex
UB4 0NN
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