Company registration number 12460864 (England and Wales)
CROWN CARE XI LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
CROWN CARE XI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CROWN CARE XI LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,058,999
6,125,752
Current assets
Debtors
5
55,171
248,074
Cash at bank and in hand
432,988
524,463
488,159
772,537
Creditors: amounts falling due within one year
6
(2,115,685)
(2,893,302)
Net current liabilities
(1,627,526)
(2,120,765)
Total assets less current liabilities
4,431,473
4,004,987
Creditors: amounts falling due after more than one year
7
(3,836,804)
(4,072,916)
Provisions for liabilities
(90,807)
-
0
Net assets/(liabilities)
503,862
(67,929)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
503,861
(67,930)
Total equity
503,862
(67,929)

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 12460864 (England and Wales)
CROWN CARE XI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Crown Care XI 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 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.

1.4
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

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

1.5
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.

CROWN CARE XI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.8
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.

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.

1.9
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.

1.10
Retirement benefits

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

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 XI 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
50
35
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
5,795,345
445,018
6,240,363
Depreciation and impairment
At 1 November 2023
-
0
114,611
114,611
Depreciation charged in the year
-
0
66,753
66,753
At 31 October 2024
-
0
181,364
181,364
Carrying amount
At 31 October 2024
5,795,345
263,654
6,058,999
At 31 October 2023
5,795,345
330,407
6,125,752
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
33,696
-
0
Other debtors
21,475
11,662
55,171
11,662
Deferred tax asset
-
0
236,412
55,171
248,074
CROWN CARE XI 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
236,112
177,084
Trade creditors
34,663
29,446
Amounts owed to group undertakings
1,473,987
2,423,987
Corporation tax
3
2,876
Other taxation and social security
20,025
16,661
Other creditors
350,895
243,248
2,115,685
2,893,302
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,836,804
4,072,916
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
3,836,804
4,072,916
8
Loans and overdrafts
2024
2023
£
£
Bank loans
4,072,916
4,250,000
Payable within one year
236,112
177,084
Payable after one year
3,836,804
4,072,916

The bank loans are repayable in quarterly instalments commencing in 2024 and there is a lump sump sum payment to repay the debt in full in December 2025.

 

The bank loan is secured by a fixed charge over the company's freehold property and fixed and floating charges over all the other property, assets and rights of the company now or in the future. The loan is repayable by quarterly instalments and interest is charged at a margin above SONIA.

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.

CROWN CARE XI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
9
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
Nicholas Cunningham MSc BSc ACCA
Statutory Auditor:
Robson Laidler Accountants Limited
Date of audit report:
28 April 2025
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

During the year the company received rental income totaling £114,048 from Flexible Support Options Limited, a company with common directors to Crown Care XI Limited.

11
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 XI 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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