Company registration number 11219248 (England and Wales)
CROWN CARE DEVELOPMENTS V LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
CROWN CARE DEVELOPMENTS V LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CROWN CARE DEVELOPMENTS V LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
3,245,117
3,975,314
Debtors
4
1,164,169
1,368,087
Cash at bank and in hand
39,213
116,579
4,448,499
5,459,980
Creditors: amounts falling due within one year
5
(3,836,429)
(4,077,457)
Net current assets
612,070
1,382,523
Creditors: amounts falling due after more than one year
6
(1,773,776)
(2,050,579)
Net liabilities
(1,161,706)
(668,056)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(1,161,707)
(668,057)
Total equity
(1,161,706)
(668,056)

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
M Ladhar
Director
Company registration number 11219248 (England and Wales)
CROWN CARE DEVELOPMENTS V LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Crown Care Developments V Limited is a private company limited by shares incorporated in England and Wales. The registered office is Earl Grey Properties, 2nd Floor, Adelphi Chambers, 20 Shakespeare Street, Newcastle Upon Tyne, Tyne and Wear, NE1 6AQ.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised on an accruals basis as properties are sold.

1.4
Stocks

Stocks principally comprise properties under construction. All stocks are carried at the lower of cost and net realisable value. Cost comprises land, direct materials and where applicable, direct labour costs that have been incurred in bringing stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

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

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.

CROWN CARE DEVELOPMENTS V LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
CROWN CARE DEVELOPMENTS V LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
13,621
Amounts owed by group undertakings
1,062,556
1,062,736
Other debtors
84,124
69,496
1,146,680
1,145,853
Deferred tax asset
17,489
222,234
1,164,169
1,368,087
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
145,000
Trade creditors
50,856
42,945
Amounts owed to group undertakings
3,712,902
3,822,840
Corporation tax
-
0
6,384
Other creditors
72,671
60,288
3,836,429
4,077,457
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,773,776
2,050,579
7
Loans and overdrafts
2024
2023
£
£
Bank loans
1,773,776
2,195,579
Payable within one year
-
0
145,000
Payable after one year
1,773,776
2,050,579

The bank loan is secured by debenture over all of the company's assets and first legal charges over the company's property. The bank loan is denominated and repaid in pounds sterling, has a contractual interest rate that is variable linked to SONIA, is not leveraged and does not contain conditional returns or repayment provisions other than to protect the lender against credit deterioration or changes in relevant legislation or taxation.

CROWN CARE DEVELOPMENTS V LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Nicholas Cunningham MSc BSc ACCA
Statutory Auditor:
Robson Laidler Accountants Limited
Date of audit report:
28 April 2025
9
Parent company

Crown Care Holdings Limited is the immediate and ultimate parent company and is the smallest and largest group for which consolidated accounts including Crown Care Developments V Limited are prepared. The consolidated accounts of Crown Care Holdings Limited are available from its registered office, C/O Earl Grey Properties, 2nd Floor Adelphi Chambers, 20 Shakespeare Street, Newcastle-upon-Tyne, NE1 6AQ.

 

In the opinion of the directors of the company and group is controlled by the Ladhar family though no individual is available to control the company by virtue of their shareholding.

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