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REGISTERED NUMBER: 02114905 (England and Wales)






















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CROWN WORLDWIDE PROPERTIES (UK) LIMITED

CROWN WORLDWIDE PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 02114905)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CROWN WORLDWIDE PROPERTIES (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S Hardie
B A Koolen
J C Mortimer





SECRETARY: F V Hopping





REGISTERED OFFICE: Heritage House
345 Southbury Road
Enfield
EN1 1TW





REGISTERED NUMBER: 02114905 (England and Wales)





AUDITORS: GKP (Ampthill) Limited
Statutory Auditor
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

CROWN WORLDWIDE PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 02114905)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,941,032 17,242,684

CURRENT ASSETS
Debtors 5 520,343 44,650
Cash at bank 102,064 1,225,077
622,407 1,269,727
CREDITORS
Amounts falling due within one year 6 (335,413 ) (438,677 )
NET CURRENT ASSETS 286,994 831,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,228,026

18,073,734

CREDITORS
Amounts falling due after more than one
year

7

(17,434,697

)

(18,167,081

)
NET LIABILITIES (206,671 ) (93,347 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (206,771 ) (93,447 )
SHAREHOLDERS' FUNDS (206,671 ) (93,347 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:





J C Mortimer - Director


CROWN WORLDWIDE PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 02114905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Crown Worldwide Properties (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
Notwithstanding the net liabilities of £207k as at 31 December 2024, the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

The directors have identified that the properties are held at cost less depreciation, in accordance with group policies, however they consider the fair value of these properties to be in excess of this value.

The Directors have prepared cash flow forecasts for the 12 months following the approval of the financial statements which indicate that the company will have sufficient funds to meet its liabilities as they fall due for that period.The forecasts are dependant on a related party, Crown Worldwide Limited, not seeking repayment of the amounts currently due which at the balance sheet date amount to £17.4m. As with any company placing reliance on other group entities for support, the directors acknowledge that there are no certainty that this support will continue although at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rent received and is recognised on the accruals basis.

Tangible fixed assets
Properties have been transferred from group companies at net book value held in those companies. The properties are rented to group entities and therefore the directors choose to apply the cost model to these assets.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property-2% on cost from the date acquired by the group

Land is not depreciated.


CROWN WORLDWIDE PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 02114905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 January 2024
and 31 December 2024 17,569,061
DEPRECIATION
At 1 January 2024 326,377
Charge for year 301,652
At 31 December 2024 628,029
NET BOOK VALUE
At 31 December 2024 16,941,032
At 31 December 2023 17,242,684

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 477,803 -
Prepayments 42,540 44,650
520,343 44,650

CROWN WORLDWIDE PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 02114905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 223,948 333,026
Trade creditors 92,619 81,270
Amounts owed to group undertakings 861 2,849
Tax 4,335 11,405
Other creditors 900 900
Accrued expenses 12,750 9,227
335,413 438,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 223,948
Amounts owed to group undertakings 17,434,697 17,943,133
17,434,697 18,167,081

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Mason BSc FCA (Senior Statutory Auditor)
for and on behalf of GKP (Ampthill) Limited

9. CONTINGENT LIABILITIES

The company is party to a cash pooling arrangement with HSBC Bank Plc, along with Crown Worldwide Limited, Crown Records Management Limited, Crown Fine Art Limited and Crown Workspace Limited.

Freehold properties of Crown Worldwide Properties (UK) Limited and each entity act as a guarantor for overdraft balances held by any of these entities.

10. ULTIMATE CONTROLLING PARTY

Jenjet Inc, a company incorporated in the British Virgin Islands is the ultimate parent company and the parent of the largest group to prepare consolidated accounts of which this company is a member.

Copies of the consolidated financial statements can be obtained from the registered office at Suite 2001, Mass Mutual Tower, 38 Gloucester Road, Hong Kong.

The ultimate controlling party is S B Thompson by virtue of the shareholding in the ultimate parent company.