Company registration number 12515500 (England and Wales)
CROWN CARE IX LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
CROWN CARE IX LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CROWN CARE IX LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,812,523
4,855,095
Current assets
Debtors
5
2,106,704
167,147
Cash at bank and in hand
310,912
635,625
2,417,616
802,772
Creditors: amounts falling due within one year
6
(4,325,478)
(1,757,160)
Net current liabilities
(1,907,862)
(954,388)
Total assets less current liabilities
2,904,661
3,900,707
Creditors: amounts falling due after more than one year
7
-
0
(2,755,000)
Net assets
2,904,661
1,145,707
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
2,904,660
1,145,706
Total equity
2,904,661
1,145,707

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 12515500 (England and Wales)
CROWN CARE IX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Crown Care IX 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
Turnover

Turnover represents care charges receivable (exempt of value added tax) which are recognised either under the terms of contract with local health authorities or under terms of short term letting agreements and is recognised on an accruals basis as those services are provided.

1.3
Tangible fixed assets

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

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:

Freehold land and buildings
Not depreciated
Fixtures and fittings
15% straight line

Freehold land and buildings are not depreciated as in the opinion of the directors the estimated residual value of the tangible fixed assets is not materially different from the carrying value of the asset, any depreciation this calculated would be immaterial. The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

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

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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.

CROWN CARE IX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
3
Employees

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

2024
2023
Number
Number
Total
52
49
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
4,667,078
283,812
4,950,890
Depreciation and impairment
At 1 November 2023
-
0
95,795
95,795
Depreciation charged in the year
-
0
42,572
42,572
At 31 October 2024
-
0
138,367
138,367
Carrying amount
At 31 October 2024
4,667,078
145,445
4,812,523
At 31 October 2023
4,667,078
188,017
4,855,095
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
34,023
26,604
Corporation tax recoverable
5,188
-
0
Amounts owed by group undertakings
1,500,000
-
0
Other debtors
60,264
25,448
1,599,475
52,052
Deferred tax asset
507,229
115,095
2,106,704
167,147
CROWN CARE IX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,900,000
145,000
Trade creditors
39,482
36,006
Amounts owed to group undertakings
1,062,556
1,062,736
Corporation tax
-
0
212,238
Other taxation and social security
17,400
33,103
Other creditors
306,040
268,077
4,325,478
1,757,160
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
2,755,000
8
Loans and overdrafts
2024
2023
£
£
Bank loans
2,900,000
2,900,000
Payable within one year
2,900,000
145,000
Payable after one year
-
0
2,755,000

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.

9
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
CROWN CARE IX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
10
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 IX 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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