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COMPANY REGISTRATION NUMBER: 00826431
Crown Service Station (Outwell) Limited
Unaudited financial statements
31 December 2024
Crown Service Station (Outwell) Limited
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,675,416
1,366,688
Current assets
Stocks
37,018
31,185
Debtors
6
27,518
34,053
Cash at bank and in hand
99,879
174,667
---------
---------
164,415
239,905
Creditors: Amounts falling due within one year
7
( 445,182)
( 281,646)
---------
---------
Net current liabilities
( 280,767)
( 41,741)
-----------
-----------
Total assets less current liabilities
1,394,649
1,324,947
Creditors: Amounts falling due after more than one year
8
( 703,317)
( 690,253)
Provisions
Taxation including deferred tax
( 46,255)
( 66,974)
-----------
-----------
Net assets
645,077
567,720
-----------
-----------
Capital and reserves
Called up share capital
40,800
40,800
Profit and loss account
604,277
526,920
---------
---------
Shareholders funds
645,077
567,720
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Crown Service Station (Outwell) Limited
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:
W J Moore
T P Gibb
Director
Director
Company registration number: 00826431
Crown Service Station (Outwell) Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Downham Road, Outwell, Wisbech, Cambridgeshire, PE14 8SE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Contribution to pension funds
The company operates a defined contribution scheme for the benefit of the directors. The assets of the scheme are administered by trustees in a fund independent from those of the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings
-
2% straight line
Plant and machinery
-
10% straight line
Computer equipment
-
33% straight line
Motor vehicles
-
25% reducing balance
Solar panels
-
15 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 29 (2023: 33 ).
5. Tangible assets
Land and buildings
Plant and machinery
Computer equipment
Motor vehicles
Solar panels
Total
£
£
£
£
£
£
Cost
At 1 January 2024
1,827,079
1,217,959
52,224
15,980
66,450
3,179,692
Additions
312,225
51,499
9,170
372,894
-----------
-----------
-------
-------
-------
-----------
At 31 December 2024
2,139,304
1,269,458
61,394
15,980
66,450
3,552,586
-----------
-----------
-------
-------
-------
-----------
Depreciation
At 1 January 2024
535,688
1,208,178
43,360
15,812
9,966
1,813,004
Charge for the year
41,520
6,079
8,053
41
8,473
64,166
-----------
-----------
-------
-------
-------
-----------
At 31 December 2024
577,208
1,214,257
51,413
15,853
18,439
1,877,170
-----------
-----------
-------
-------
-------
-----------
Carrying amount
At 31 December 2024
1,562,096
55,201
9,981
127
48,011
1,675,416
-----------
-----------
-------
-------
-------
-----------
At 31 December 2023
1,291,391
9,781
8,864
168
56,484
1,366,688
-----------
-----------
-------
-------
-------
-----------
Included in freehold land and buildings is land with a cost of £53,957 which is not depreciated.
6. Debtors
2024
2023
£
£
Trade debtors
15,977
25,600
Other debtors
11,541
8,453
-------
-------
27,518
34,053
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
62,687
48,383
Trade creditors
219,113
47,586
Social security and other taxes
30,366
73,134
Other creditors
133,016
112,543
---------
---------
445,182
281,646
---------
---------
Bank loans and overdrafts are secured on the company's assets.
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Other creditors
703,317
690,253
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £38,066 (2023: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Bank loans and overdrafts are secured on the company's assets.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
17,287
12,000
Later than 1 year and not later than 5 years
56,371
48,000
Later than 5 years
33,000
45,000
---------
---------
106,658
105,000
---------
---------
10. Related party transactions
During the year the company continued to operate an interest free loan account with W J Moore of £304,381 (2023: £331,853). The above loan account is included within creditors. Of the balance owed to W J Moore , £250,000 (2023: £300,000) is shown as falling due after more than one year.