Company Registration No. 06374298 (England and Wales)
MEXCROWN INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
Shenward (London) Limited
Formerly known as
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
MEXCROWN INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
MEXCROWN INVESTMENTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MEXCROWN INVESTMENTS LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The following reproduces text of the accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 7 have been extracted.

"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mexcrown Investments Limited for the year ended 31 March 2024 set out on pages 3 to 10 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

Our work has been undertaken solely to prepare for your approval the financial statements of Mexcrown Investments Limited and state those matters that we have agreed to state to the Board of Directors of Mexcrown Investments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mexcrown Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mexcrown Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mexcrown Investments Limited. You consider that Mexcrown Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mexcrown Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

 

 

Shenward (London) Limited
(Formerly known as John Cumming Ross Limited)
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
27 March 2025
MEXCROWN INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
38,396
26,177
Investment properties
6
1,700,000
1,700,000
1,738,396
1,726,177
Current assets
Debtors
7
15,950
20,574
Cash at bank and in hand
30,534
13,083
46,484
33,657
Creditors: amounts falling due within one year
8
(543,712)
(562,431)
Net current liabilities
(497,228)
(528,774)
Total assets less current liabilities
1,241,168
1,197,403
Creditors: amounts falling due after more than one year
9
(616,527)
(633,763)
Provisions for liabilities
11
(22,472)
(13,283)
Net assets
602,169
550,357
Capital and reserves
Called up share capital
12
1,000
1,000
Other reserves - non distributable
421,377
421,377
Profit and loss reserves
179,792
127,980
Total equity
602,169
550,357

The directortrues of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver the profit and loss account and directors' report within the financial statements.

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MEXCROWN INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mr M Saluja
Director
Company Registration No. 06374298
MEXCROWN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Mexcrown Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Linksway, Northwood, Middlesex, HA6 2XB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Going concern

At the time of approving the financial statements, the directors have reasonable expectation and assurance that the company will have adequate resources to continue its operations for the foreseeable future by way of the support from the bank and the shareholders of the company.true

1.3
Turnover

Other operating income represents amounts receivable for rentals.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

 

1.6
Impairment of fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, and bank loans , are initially recognised at transaction price, unless the arrangement constitutes a financing transactions, where the debt instruments is measured at the present value of the future payments discounted at market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MEXCROWN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

2
Judgements and key sources of estimation uncertainty

The key source of estimation uncertainty relates to the valuation of the property where valuation is obtained. In accounting for net rental income, the directors' are required to judge the recoverability of any income accrued and provides against the credit risk on these amounts. The potential for management to make judgements or estimates relating to those items which would have a significant impact on the financial statements is considered, by the nature of the company's business, to be limited.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
4
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
9,189
13,283
MEXCROWN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
34,903
Additions
27,763
At 31 March 2024
62,666
Depreciation and impairment
At 1 April 2023
8,726
Depreciation charged in the year
15,544
At 31 March 2024
24,270
Carrying amount
At 31 March 2024
38,396
At 31 March 2023
26,177
6
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,700,000

The fair value of the investment properties have been arrived at on the basis of a valuation carried out at 31 March 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
15,950
20,574
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
29,617
38,124
Other creditors
514,095
524,307
543,712
562,431
MEXCROWN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
616,527
633,763

The bank loan is secured against the asset of the company.

Amounts included above which fall due after five years are as follows:
Payable by instalments
498,058
519,042
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Investment property
22,472
13,283
2024
Movements in the year:
£
Liability at 1 April 2023
13,283
Charge to profit or loss
9,189
Liability at 31 March 2024
22,472
11
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
10
22,472
13,283
12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1,000
1,000
1,000
1,000
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