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Registration number: 01617154

Crown Taverns (Chichester) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Crown Taverns (Chichester) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Crown Taverns (Chichester) Limited

Company Information

Director

Mr KN Barker

Registered office

Cawley Priory
South Pallant
Chichester
PO19 1SY

Accountants

Blue Spire Limited
Chartered AccountantsCawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Crown Taverns (Chichester) Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Crown Taverns (Chichester) Limited for the year ended 31 August 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Crown Taverns (Chichester) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Crown Taverns (Chichester) Limited and state those matters that we have agreed to state to the Board of Directors of Crown Taverns (Chichester) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crown Taverns (Chichester) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Crown Taverns (Chichester) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Crown Taverns (Chichester) Limited. You consider that Crown Taverns (Chichester) 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 accounts of Crown Taverns (Chichester) 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 accounts.

......................................

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

8 April 2025

 

Crown Taverns (Chichester) Limited

(Registration number: 01617154)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

398

69

Investments

5

95,250

95,250

 

95,648

95,319

Current assets

 

Debtors

6

28,005

39,562

Cash at bank and in hand

 

8,160

30,135

 

36,165

69,697

Creditors: Amounts falling due within one year

7

(6,107)

(36,323)

Net current assets

 

30,058

33,374

Net assets

 

125,706

128,693

Capital and reserves

 

Called up share capital

8

1,000

1,000

Share premium reserve

94,350

94,350

Retained earnings

30,356

33,343

Shareholders' funds

 

125,706

128,693

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 April 2025
 

.........................................
Mr KN Barker
Director

 

Crown Taverns (Chichester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company (registartion number 01617154) is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Cawley Priory
South Pallant
Chichester
PO19 1SY

These financial statements were authorised for issue by the director on 8 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Crown Taverns (Chichester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Crown Taverns (Chichester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

450

450

Additions

429

429

At 31 August 2024

879

879

Depreciation

At 1 September 2023

381

381

Charge for the year

100

100

At 31 August 2024

481

481

Carrying amount

At 31 August 2024

398

398

At 31 August 2023

69

69

5

Investments

2024
£

2023
£

Investments in joint ventures

95,250

95,250

Joint ventures

£

Cost

At 1 September 2023

95,250

Provision

Carrying amount

At 31 August 2024

95,250

At 31 August 2023

95,250

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Joint ventures

Sussex Inns

Vinnetrow Rd, Runcton, Chichester PO20 1QB

Partnership

50%

50%

 

Crown Taverns (Chichester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Joint ventures

Sussex Inns

The principal activity of Sussex Inns is Public House.

6

Debtors

Current

2024
£

2023
£

Other debtors

28,005

39,562

 

28,005

39,562

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

191

1,003

Accruals and deferred income

1,194

1,194

Other creditors

4,722

34,126

6,107

36,323

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

Crown Taverns (Chichester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Transactions with the director

2024

Advances to directors
£

Expenses paid by director
£

At 31 August 2024
£

Mr KN Barker

Amounts owed to / (from) Director

(40,000)

10,597

4,722

       
     

 

2023

Advances to directors
£

Expenses paid by director
£

At 31 August 2023
£

Mr KN Barker

Amounts owed to / (from) Director

(3,000)

9,708

34,126

       
     

 

Summary of transactions with joint ventures

Sussex Inns
50% share of partnership

Income and receivables from related parties

2024

Joint ventures
£

Amounts receivable from related party

28,004

2023

Joint ventures
£

Amounts receivable from related party

39,563