CROWNAXE PROPERTIES LIMITED

Company Registration Number:
02030981 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

CROWNAXE PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

CROWNAXE PROPERTIES LIMITED

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 367 489
Investments: 4 988,000 875,000
Total fixed assets: 988,367 875,489
Current assets
Debtors:   300 783
Cash at bank and in hand: 22,254 37,178
Total current assets: 22,554 37,961
Creditors: amounts falling due within one year:   (29,260) (26,200)
Net current assets (liabilities): (6,706) 11,761
Total assets less current liabilities: 981,661 887,250
Provision for liabilities: (201,000) (170,200)
Total net assets (liabilities): 780,661 717,050
Capital and reserves
Called up share capital: 4 4
Other reserves: 222,377 222,377
Profit and loss account: 558,280 494,669
Shareholders funds: 780,661 717,050

The notes form part of these financial statements

CROWNAXE PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 April 2025
and signed on behalf of the board by:

Name: John Chatwin
Status: Director

The notes form part of these financial statements

CROWNAXE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

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. Fixtures, fittings, tools and equipment 25% reducing balance.

Other accounting policies

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 and then subsequently measures at fair value. Changes in value are recognised in profit or loss. 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 (i.e. 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.

CROWNAXE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

CROWNAXE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible Assets

Total
Cost £
At 01 August 2023 3,309
At 31 July 2024 3,309
Depreciation
At 01 August 2023 2,820
Charge for year 122
At 31 July 2024 2,942
Net book value
At 31 July 2024 367
At 31 July 2023 489

CROWNAXE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Fixed investments

Investment properties were revalued at fair value by the directors on 31 July 2024. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar occupied properties.