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REGISTERED NUMBER: 10288242 (England and Wales)











Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Crown Priory Limited

Crown Priory Limited (Registered number: 10288242)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Statement of Financial Position 4

Statement of Changes in Equity 6

Notes to the Financial Statements 7


Crown Priory Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S Manchett
C R Ginn
R Manchett
G W Manchett





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 10288242 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Crown Priory Limited (Registered number: 10288242)

Report of the Directors
for the Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

S Manchett
C R Ginn
R Manchett
G W Manchett

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Manchett - Director


24 March 2025

Crown Priory Limited (Registered number: 10288242)

Income Statement
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

TURNOVER 333,100 1,422,251

Cost of sales 245,368 1,299,554
GROSS PROFIT 87,732 122,697

Administrative expenses 70,233 84,468
17,499 38,229

Other operating income - 1,500
OPERATING PROFIT 4 17,499 39,729


Interest payable and similar expenses 5 7,499
PROFIT BEFORE TAXATION 17,494 32,230

Tax on profit 5 2,750 12,311
PROFIT FOR THE FINANCIAL YEAR 14,744 19,919

Crown Priory Limited (Registered number: 10288242)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 41,824 54,401

CURRENT ASSETS
Stocks 1,350,873 1,113,890
Debtors 7 304,938 375,590
Cash at bank - 24,118
1,655,811 1,513,598
CREDITORS
Amounts falling due within one year 8 1,126,756 1,008,776
NET CURRENT ASSETS 529,055 504,822
TOTAL ASSETS LESS CURRENT LIABILITIES 570,879 559,223

PROVISIONS FOR LIABILITIES 10 9,579 12,667
NET ASSETS 561,300 546,556

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 561,200 546,456
SHAREHOLDERS' FUNDS 561,300 546,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Crown Priory Limited (Registered number: 10288242)

Statement of Financial Position - continued
30 September 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:




S Manchett - Director R Manchett - Director




C R Ginn - Director G W Manchett - Director


Crown Priory Limited (Registered number: 10288242)

Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 100 526,537 526,637

Changes in equity
Total comprehensive income - 19,919 19,919
Balance at 30 September 2023 100 546,456 546,556

Changes in equity
Total comprehensive income - 14,744 14,744
Balance at 30 September 2024 100 561,200 561,300

Crown Priory Limited (Registered number: 10288242)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Crown Priory Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - Straight line over 3 years

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Crown Priory Limited (Registered number: 10288242)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 5 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 12,577 17,283

Crown Priory Limited (Registered number: 10288242)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 5,838 12,991

Deferred tax (3,088 ) (680 )
Tax on profit 2,750 12,311

UK corporation tax has been charged at 19% (2023 - 19.89%).

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 119,311
DEPRECIATION
At 1 October 2023 64,910
Charge for year 12,577
At 30 September 2024 77,487
NET BOOK VALUE
At 30 September 2024 41,824
At 30 September 2023 54,401

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 293,714 365,347
Other debtors 11,224 10,243
304,938 375,590

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 206,228 -
Trade creditors (3,714 ) 59,912
Taxation and social security 56,647 17,660
Other creditors 867,595 931,204
1,126,756 1,008,776

Crown Priory Limited (Registered number: 10288242)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other creditors includes amounts due to directors of £24,833 (2023: £29,700).

9. SECURED DEBTS

Barclays Bank PLC hold a fixed and floating charge over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 9,579 12,667

Deferred
tax
£   
Balance at 1 October 2023 12,667
Provided during year (3,088 )
Balance at 30 September 2024 9,579

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 "A" £1 80 80
5 "B" £1 5 5
5 "C" £1 5 5
5 "D" £1 5 5
5 "E" £1 5 5
100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
S Manchett
Balance outstanding at start of year - -
Amounts advanced 8,499 -
Amounts repaid (6,077 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,422 -

Crown Priory Limited (Registered number: 10288242)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R Manchett
Balance outstanding at start of year - -
Amounts advanced 252,363 -
Amounts repaid (251,738 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 625 -

13. RELATED PARTY DISCLOSURES

The company has a loan due to Manchetts Limited amounting £262,062 as at 30th September 2024 (2023: £300,399). The company has a loan due to Manchetts (Burwell) Limited amounting £578,300 as at 30th September 2024 (2023: £598,800).

14. ULTIMATE CONTROLLING PARTY

The company is equally controlled by Mr S Manchett, Mr R Manchett, Mr G Manchett and Mr C Ginn.