ACCOUNTS - Final Accounts

OPERATING PROFIT/(LOSS)

The operating profit/(loss) is stated after charging:

As restated

Registered number: 04066827

CROWN HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

CROWN HOLDINGS LIMITED

COMPANY INFORMATION

DIRECTORS	Mr R L C Morgan
	Mrs D Morgan
	Mr S A J Morgan-Cummins
	Ms V E Morgan-Cummins
	Ms D A L Taylor


REGISTERED NUMBER	04066827


REGISTERED OFFICE	Unit 20 Ongar Business Centre
	The Gables
	Ongar
	Essex
	CM12 0EQ


INDEPENDENT AUDITORS	PEM Audit Limited
	Statutory Auditor
	Station Road
	Cambridge
	CB1 2LA

CROWN HOLDINGS LIMITED

CONTENTS

	Page
Group Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11 - 12
Company Balance Sheet	13 - 14
Consolidated Statement of Changes in Equity	15 - 16
Company Statement of Changes in Equity	17 - 18
Consolidated Statement of Cash Flows	19 - 20
Notes to the Financial Statements	21 - 44

CROWN HOLDINGS LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 JULY 2025

INTRODUCTION

The directors present the strategic report for the year ended 31 July 2025.

BUSINESS REVIEW

During the year ended 31 July 2025, the UK hospitality sector continued to operate against a demanding economic backdrop. Headline CPI inflation fell to 1.7% in September 2024 but subsequently rose, reaching 3.8% in July 2025. Services inflation remained elevated at 5.0% in July 2025, maintaining pressure on wages and other service-led input costs. Although Bank Rate was reduced progressively from 5.25% at the start of the period to 4.25% by May 2025, borrowing costs remained restrictive and household discretionary spending continued to be sensitive to cost-of-living pressures.

References: Office for National Statistics, Consumer price inflation, UK: July 2025; Bank of England, Monetary Policy Summary, May 2025.

Sector-specific pressures remained significant throughout the year. Hospitality accounted for approximately 2.8 million jobs in the three months to June 2024, or 7.5% of all UK jobs, while businesses continued to identify energy prices, taxation, weaker demand, materials and labour costs as principal challenges. The sector’s vacancy rate was above the all-industry average in the three months to September 2024, at 3.6 vacancies per 100 workers compared with 2.6 across the economy, illustrating the recruitment and retention pressures carried into the review period. More broadly, UK GDP grew by 0.7% in the first quarter of 2025 and by 0.3% in the second quarter, indicating positive but slowing economic momentum as the year end approached.

References: House of Commons Library, Support for pubs and the hospitality sector, 21 October 2024; Office for National Statistics, GDP first quarterly estimate, UK: April to June 2025.

Labour costs were a particularly salient issue during the year. The National Living Wage was £11.44 per hour from the start of the period and increased by 6.7% to £12.21 on 1 April 2025. From 6 April 2025, the employer National Insurance rate increased from 13.8% to 15%, while the secondary threshold fell from £9,100 to £5,000. These measures created a substantial additional cost for labour-intensive hospitality businesses during the final four months of the financial year, partly offset for eligible employers by the increase in the Employment Allowance to £10,500.

References: Low Pay Commission, Minimum wage rates for 2025; HM Revenue & Customs, employer National Insurance and Employment Allowance changes.

The Group reported a profit for the year, generated positive cash flows, and maintained adequate liquidity throughout the period. The Group also continues to benefit from funding provided by the directors' private pension scheme, with the flexibility to vary the repayment profile should this be required to meet fluctuating cash flow demands.

In addition, the Group holds a portfolio of property assets, which provide significant balance sheet strength and could be converted into cash if additional funds were required. Furthermore, these assets are held at depreciated historic cost as opposed to current market valuation and therefore there is significant uncapitalised collateral within the Group balance sheet. Having considered the Group's cash flow forecasts, available funding and asset base, the directors are satisfied that the Group has sufficient resources to continue as a going concern for the foreseeable future.

PRINCIPAL RISKS AND UNCERTAINTIES

The Group’s principal risks at the year-end were rising labour, supplier and utility costs, fragile consumer confidence and softer event demand. These risks were managed through disciplined pricing, procurement, labour scheduling, venue utilisation and cash control, while growth opportunities included targeted contract wins, improved revenue management and operating efficiencies.

Page 1

CROWN HOLDINGS LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

FINANCIAL KEY PERFORMANCE INDICATORS

The Group will continue to grow turnover and trade its way out of the restrictions of previous years, expecting a strong return of the hospitality sector. Profits are expected to return in 2026 to levels achieved historically.

1. Annual turnover:-
12 months to 31/07/25 = £15.3m
12 months to 31/07/24 = £16.9m

2. Operating Profit/(loss):-
12 months to 31/07/25 = £350k
12 months to 31/07/24- (£1,761k)

This report was approved by the board and signed on its behalf by:

Mr R L C Morgan

Director

Date: 21 October 2026

Page 2

CROWN HOLDINGS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JULY 2025

The directors present their report and the financial statements for the year ended 31 July 2025.

PRINCIPAL ACTIVITY

The principal activity of the company and group continued to be that of trading as a diverse, specialised set of companies providing a range of services and products, predominantly across the hospitality sector.

RESULTS AND DIVIDENDS

The profit for the year, after taxation and minority interests, amounted to £504,011 (2024 - loss £1,656,391).

The directors do not recommend a payment of a dividend for the period.

DIRECTORS

The directors who served during the year were:

Mr R L C Morgan

Mrs D Morgan

Mr S A J Morgan-Cummins

Ms V E Morgan-Cummins

Ms D A L Taylor

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

CROWN HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

AUDITORS

Under section 487(2) of the Companies Act 2006, PEM Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf by:

Mr R L C Morgan

Director

Date: 21 October 2026

Page 4

CROWN HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROWN HOLDINGS LIMITED

OPINION

We have audited the financial statements of Crown Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 July 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 31 July 2025 and of the Group's profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 5

CROWN HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROWN HOLDINGS LIMITED (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Page 6

CROWN HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROWN HOLDINGS LIMITED (CONTINUED)

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

∙we identified the laws and regulations applicable to the Group through discussions with directors and other management, and from our commercial knowledge and experience of the hospitality sector;

∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, including the Companies Act 2006 and relevant taxation legislation;

∙in addition, we considered provisions of other laws and regulations which do not have a direct effect on the financial statements but compliance with which might be fundamental to the company's ability to operate or to avoid material penalties;

∙we obtained an understanding of the legal and regulatory framework applicable to the Group and of the Group’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance;

∙we made enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

∙we obtained an understanding of the Group’s risk assessment process, including the risk of fraud;

∙we assessed the susceptibility of the Group’s financial statements to material misstatement, including how fraud might occur; and

∙laws and regulations identified were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

Page 7

CROWN HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROWN HOLDINGS LIMITED (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS (CONTINUED)

As a result of the above risk assessment procedures we identified the greatest risk of material misstatement on the financial statements arising from irregularities and fraud to be within the potential for management to override controls together with the risk of fraudulent revenue recognition. We considered the risk of fraudulent revenue recognition to be most prevalent in the cut-off of revenue. In response to these identified risks, we designed procedures which included, but were not limited to:

∙performed analytical procedures to identify any unusual or unexpected relationships;

∙performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business;

∙we evaluated the assumptions and judgements used by management within significant accounting estimates and assessed whether these indicated evidence of management bias;

∙we used Audit Data Analytics to review the client data for unusual trends/anomalies;

∙performed substantive testing for a sample of revenue transactions and assessed whether revenue was recognised in the correct financial period; and

∙performed substantive testing for a sample of transactions from source documentation through to despatch note, invoice raised and to revenue recognised during the year.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

∙we agreed the financial statement disclosures to underlying supporting documentation;

∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

∙we discussed with management actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 8

CROWN HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROWN HOLDINGS LIMITED (CONTINUED)

USE OF OUR REPORT

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Edward Napper (Senior Statutory Auditor)

for and on behalf of

PEM Audit Limited

Statutory Auditor

Station Road

Cambridge

CB1 2LA

Date: 21 October 2026

Page 9

CROWN HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 JULY 2025

		As restated
	2025	2024
Note	£	£


Turnover	3	15,326,634	16,852,536
Cost of sales		(12,510,947)	(13,435,886)
GROSS PROFIT		2,815,687	3,416,650
Administrative expenses		(2,541,488)	(5,341,794)
Other operating income		75,782	163,055
Exceptional items	13	-	1,160
OPERATING PROFIT/(LOSS)	5	349,981	(1,760,929)
Interest receivable and similar income	9	32,917	281,216
Interest payable and similar expenses	10	(304,255)	(90,134)
PROFIT/(LOSS) BEFORE TAXATION		78,643	(1,569,847)
Tax on profit/(loss)	11	(14,843)	15,268
PROFIT/(LOSS) FOR THE FINANCIAL YEAR		63,800	(1,554,579)

PROFIT/(LOSS) FOR THE YEAR ATTRIBUTABLE TO:
Owners of the Parent Company	504,011	(1,656,391)
Non-controlling interests	(440,211)	101,812
	63,800	(1,554,579)

The notes on pages 21 to 44 form part of these financial statements.

Page 10

CROWN HOLDINGS LIMITED

REGISTERED NUMBER: 04066827

CONSOLIDATED BALANCE SHEET

AS AT 31 JULY 2025

		As restated
	2025	2024
Note	£	£

FIXED ASSETS
Tangible assets	14		4,082,522		4,258,297
Investments	15		69,079		69,079
Investment property	16		273,409		273,409
			4,425,010		4,600,785
CURRENT ASSETS
Stocks	17	355,730		383,681
Debtors: amounts falling due within one year	18	1,603,438		2,606,265
Cash at bank and in hand	19	2,758,239		3,015,965
		4,717,407		6,005,911
Creditors: amounts falling due within one year	20	(6,044,457)		(5,641,791)
NET CURRENT (LIABILITIES)/ASSETS			(1,327,050)		364,120
TOTAL ASSETS LESS CURRENT LIABILITIES			3,097,960		4,964,905
Creditors: amounts falling due after more than one year	21		(91,667)		(1,930,412)
NET ASSETS			3,006,293		3,034,493

CAPITAL AND RESERVES
Called up share capital	24	181	181
Share premium account	25	24,262	24,262
Revaluation reserve	25	47,000	47,000
Profit and loss account	25	3,424,049	3,012,038
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT COMPANY		3,495,492	3,083,481
Non-controlling interests		(489,199)	(48,988)
		3,006,293	3,034,493

Page 11

CROWN HOLDINGS LIMITED

REGISTERED NUMBER: 04066827

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr R L C Morgan

Director

Date: 21 October 2026

The notes on pages 21 to 44 form part of these financial statements.

Page 12

CROWN HOLDINGS LIMITED

REGISTERED NUMBER: 04066827

COMPANY BALANCE SHEET

AS AT 31 JULY 2025

		As restated
	2025	2024
Note	£	£

FIXED ASSETS
Tangible assets	14		2,278,450		1,911,655
Investments	15		70,028		70,028
Investment property	16		273,409		273,409
			2,621,887		2,255,092
CURRENT ASSETS
Debtors: amounts falling due within one year	18	43,441		3,851,723
Cash at bank and in hand	19	1,128,749		1,184,038
		1,172,190		5,035,761
Creditors: amounts falling due within one year	20	(4,313,490)		(826,329)
NET CURRENT (LIABILITIES)/ASSETS			(3,141,300)		4,209,432
TOTAL ASSETS LESS CURRENT LIABILITIES			(519,413)		6,464,524

Creditors: amounts falling due after more than one year	21		-		(1,728,744)

NET (LIABILITIES)/ASSETS			(519,413)		4,735,780

CAPITAL AND RESERVES
Called up share capital	24	181	181
Share premium account	25	24,262	24,262
Revaluation reserve	25	47,000	47,000
Profit and loss account	25	(590,856)	4,664,337
		(519,413)	4,735,780

Page 13

CROWN HOLDINGS LIMITED

REGISTERED NUMBER: 04066827

COMPANY BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr R L C Morgan

Director

Date: 21 October 2026

The notes on pages 21 to 44 form part of these financial statements.

Page 14


		CROWN HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2025

	Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Equity attributable to owners of Parent Company	Non-controlling interests	Total equity
	£	£	£	£	£	£	£
At 1 August 2024 (as previously stated)	181	24,262	47,000	3,864,317	3,935,760	(48,988)	3,886,772
Prior year adjustment - correction of error	-	-	-	(852,279)	(852,279)	-	(852,279)
At 1 August 2024 (as restated)	181	24,262	47,000	3,012,038	3,083,481	(48,988)	3,034,493

Profit for the year	-	-	-	504,011	504,011	(440,211)	63,800
Dividends paid	-	-	-	(92,000)	(92,000)	-	(92,000)
AT 31 JULY 2025	181	24,262	47,000	3,424,049	3,495,492	(489,199)	3,006,293

The notes on pages 21 to 44 form part of these financial statements.

Page 15


		CROWN HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2024

	Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Equity attributable to owners of Parent Company	Non-controlling interests	Total equity
	£	£	£	£	£	£	£
At 1 August 2023	181	24,262	47,000	5,018,429	5,089,872	241,944	5,331,816

Loss for the year (as restated)	-	-	-	(1,656,391)	(1,656,391)	101,812	(1,554,579)
Other movement	-	-	-	-	-	(183,100)	(183,100)
Dividends paid	-	-	-	(350,000)	(350,000)	(209,644)	(559,644)
AT 31 JULY 2024	181	24,262	47,000	3,012,038	3,083,481	(48,988)	3,034,493

The notes on pages 21 to 44 form part of these financial statements.

Page 16


		CROWN HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2025

	Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 August 2024 (as previously stated)	181	24,262	47,000	5,516,616	5,588,059
Prior year adjustment - correction of error	-	-	-	(852,279)	(852,279)
At 1 August 2024 (as restated)	181	24,262	47,000	4,664,337	4,735,780

Loss for the year	-	-	-	(5,255,193)	(5,255,193)
AT 31 JULY 2025	181	24,262	47,000	(590,856)	(519,413)

The notes on pages 21 to 44 form part of these financial statements.

Page 17


		CROWN HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2024

	Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 August 2023	181	24,262	47,000	5,630,227	5,701,670

Loss for the year (as restated)	-	-	-	(615,890)	(615,890)
CONTRIBUTIONS BY AND DISTRIBUTIONS TO OWNERS
Dividends paid	-	-	-	(350,000)	(350,000)
AT 31 JULY 2024	181	24,262	47,000	4,664,337	4,735,780

The notes on pages 21 to 44 form part of these financial statements.

Page 18

CROWN HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

				As restated
			2025	2024
			£	£

CASH FLOWS FROM OPERATING ACTIVITIES
Loss after taxation	63,800	(1,554,579)
ADJUSTMENTS FOR:
Depreciation of tangible assets	361,898	434,056
Loss on disposal of tangible assets	-	994,278
Interest paid	304,255	90,134
Interest received	(32,917)	-
Taxation charge	14,843	(15,268)
Decrease in stocks	27,951	23,858
Decrease in debtors	987,984	3,299,299
(Decrease) in creditors	(409,293)	(3,151,553)
Investment income	-	(281,216)
Gain on disposal of investment property	-	(361,142)
Taxation refunded	-	20,913
NET CASH GENERATED FROM OPERATING ACTIVITIES	1,318,521	(501,220)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of tangible fixed assets	(237,426)	(229,739)
Proceeds from sale of tangible fixed assets	96,664	1,000,000
Interest received	32,917	281,216
NET CASH FROM INVESTING ACTIVITIES	(107,845)	1,051,477
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of loans	(110,001)	-
Other new loans	(801,859)	120,691
Dividends paid	(92,000)	(350,000)
Non-controlling interest dividends paid	-	(209,644)
Interest paid	(304,255)	(90,134)
Repayment of finance leases	(163,919)	-
NET CASH USED IN FINANCING ACTIVITIES	(1,472,034)	(529,087)
(DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(261,358)	21,170
Cash and cash equivalents at beginning of year	3,015,965	2,994,795
CASH AND CASH EQUIVALENTS AT THE END OF YEAR	2,754,607	3,015,965

Page 19

CROWN HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

			As restated
		2025	2024
		£	£

CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE:
Cash at bank and in hand	2,758,239	3,015,965
Bank overdrafts	(3,632)	-
	2,754,607	3,015,965

Page 20

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	GENERAL INFORMATION

Crown Holdings Limited ("the Company") is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 25, Ongar Business Centre, The Gables, Ongar, Essex, CM5 0GA.

The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 21

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 22

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

OPERATING LEASES: THE GROUP AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.7

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 23

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.8

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 24

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.11

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	2% on cost
Leasehold land and buildings	-	2% - 33% on cost
Plant and machinery	-	15% - 50% on cost
Motor vehicles	-	20% - 33% on cost
Fixtures and fittings	-	2% - 5% on cost
Computer equipment	-	10% - 50% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by management and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.13

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 25

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.14

ASSOCIATES AND JOINT VENTURES

An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions.

In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated Statement of Comprehensive Income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated Balance Sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition.

Any premium on acquisition is dealt with in accordance with the goodwill policy.

2.15

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.16

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.17

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.18

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 26

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.19

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.20

FINANCIAL INSTRUMENTS

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance Sheet when the Group 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The

Page 27

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.20

FINANCIAL INSTRUMENTS (CONTINUED)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Page 28

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.20

FINANCIAL INSTRUMENTS (CONTINUED)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

2.21

DIVIDENDS

Equity dividends are recognised when they become legally payable.

TURNOVER

An analysis of turnover by class of business is as follows:
	2025	2024
	£	£

	Hospitality & catering	15,326,634	16,852,536

					2025	2024
					£	£

United Kingdom	14,690,854	16,186,832
Rest of Europe	635,780	665,704
	15,326,634	16,852,536

4.	OTHER OPERATING INCOME
		2025	2024
		£	£

Rent income receivable	75,782	163,055
Loss on deconsolidation	-	1,160
	75,782	164,215

Page 29

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Exchange losses	1,783	413,091
Auditors' remuneration	90,000	35,000
Other operating lease rentals	387,310	434,056
Loss on disposal of tangible fixed assets	-	994,278
Profit on disposal of investment property	-	(361,142)
Operating lease charges	352,070	365,436

Fees payable to the Company's auditors for the audit of the consolidated and Parent Company's financial statements

90,000

35,000

7.	EMPLOYEES
	Staff costs, including directors' remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	6,229,831	6,197,193
Social security costs	573,817	569,930
Cost of defined contribution scheme	191,301	205,115
	6,994,949	6,972,238

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Employees	483	489	6	7

Page 30

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

8.	DIRECTORS' REMUNERATION

	During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £NIL (2024 - £NIL).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £NIL (2024 - £NIL).
	The value of the Group's contributions paid to a defined benefit pension scheme in respect of the highest paid director amounted to £NIL (2024 - £NIL).

9.	INTEREST RECEIVABLE AND SIMILAR INCOME
		2025	2024
		£	£

Bank interest receivable	32,917	52,822
Pension interest received	-	228,394
	32,917	281,216

10.	INTEREST PAYABLE AND SIMILAR EXPENSES
		2025	2024
		£	£

HP interest payable	1,485	2,970
Other loan interest payable	3,902	3,209
Bank loan interest payable	26,974	38,955
Pension liability interest payable	271,894	45,000
	304,255	90,134

Page 31

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

CURRENT TAX
Adjustments in respect of previous periods	-	(30,785)

TOTAL CURRENT TAX	-	(30,785)

DEFERRED TAX
Origination and reversal of timing differences	14,843	15,517
TOTAL DEFERRED TAX	14,843	15,517


	TAX ON PROFIT/(LOSS)	14,843	(15,268)

Profit/(loss) on ordinary activities before tax

78,643

(1,569,847)

Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	19,661	(392,462)
EFFECTS OF:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	(4,818)	277,839
Unutilised tax losses carried forward	-	99,355
TOTAL TAX CHARGE FOR THE YEAR	14,843	(15,268)

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 32

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

12.	DIVIDENDS
		2025	2024
		£	£

Dividends paid

92,000

350,000

13.	EXCEPTIONAL ITEMS
		2025	2024
		£	£

Loss on deconsolidation

(1,160)

Page 33


		CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

	14.	TANGIBLE FIXED ASSETS
		Group

	Freehold property	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£	£
COST
At 1 August 2024 (as restated)	2,927,899	3,262,525	3,014,809	203,795	2,681,280	319,634	12,409,942
Additions	-	163,051	106,359	-	8,814	4,561	282,785
Disposals	(96,664)	-	(21,833)	-	-	-	(118,497)
At 31 July 2025	2,831,235	3,425,576	3,099,335	203,795	2,690,094	324,195	12,574,230
DEPRECIATION
At 1 August 2024 (as restated)	919,580	1,620,654	2,564,663	82,695	2,657,775	306,278	8,151,645
Charge for the year	53,125	133,585	112,771	50,309	1,815	10,291	361,896
Disposals	-	-	(21,833)	-	-	-	(21,833)
At 31 July 2025	972,705	1,754,239	2,655,601	133,004	2,659,590	316,569	8,491,708
NET BOOK VALUE
At 31 July 2025	1,858,530	1,671,337	443,734	70,791	30,504	7,626	4,082,522
At 31 July 2024	2,008,319	1,641,871	450,146	121,100	23,505	13,356	4,258,297

Page 34


		CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

14.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Freehold	1,858,530	2,008,319
Long leasehold	1,671,337	1,641,872
	3,529,867	3,650,191

Page 35

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

14.TANGIBLE FIXED ASSETS (CONTINUED)

	Company

	Freehold property	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
COST
At 1 August 2024	2,831,235	15,055	77,214	2,923,504
Additions	419,920	-	-	419,920
At 31 July 2025	3,251,155	15,055	77,214	3,343,424
DEPRECIATION
At 1 August 2024	919,580	15,055	77,214	1,011,849
Charge for the year	53,125	-	-	53,125
At 31 July 2025	972,705	15,055	77,214	1,064,974
NET BOOK VALUE
At 31 July 2025	2,278,450	-	-	2,278,450
At 31 July 2024	1,911,655	-	-	1,911,655

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

	Freehold	2,278,450	1,911,655

Page 36

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

15.	FIXED ASSET INVESTMENTS
	Group

		Investments in associates
		£
	COST OR VALUATION
	At 1 August 2024	69,079
	At 31 July 2025	69,079

	NET BOOK VALUE
	At 31 July 2025	69,079
	At 31 July 2024	69,079

	Company

	Investments in subsidiary companies	Investments in associates	Total
	£	£	£
COST OR VALUATION
At 1 August 2024	949	69,079	70,028
At 31 July 2025	949	69,079	70,028

NET BOOK VALUE
At 31 July 2025	949	69,079	70,028
At 31 July 2024	949	69,079	70,028

Page 37

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

Casa Monte Cristo Limited	UK	Ordinary	100%
Inbarema15 Limited	UK	Ordinary	100%
Morgan's Farm Limited	UK	Ordinary	90%
Piggotts Flags & Branding Limited	UK	Ordinary	100%
Seasoned Events Limited	UK	Ordinary	90%
Seasoned Venues Limited	UK	Ordinary	100%

On break up or sale, Crown Holdings Limited owns 100% of the assets of Crown Services Management LLP and 51% of the assets of Midsummer House Restaurants LLP.

ASSOCIATE
The following was an associate of the Company:
Name	Registered office	Class of shares	Holding

At Home Catering Limited

Ordinary

30%

16.	INVESTMENT PROPERTY
	Group and Company

		Freehold investment property
		£
	VALUATION
	At 1 August 2024	273,409
	AT 31 JULY 2025	273,409

The 2025 valuations were made by the directors, on an open market value basis, based on professional advice received.

Page 38

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

17.	STOCKS
		Group	Group
		2025	2024
		£	£

	Finished goods and goods for resale	355,730	383,681

The difference between purchase price or production cost of stocks and their replacement cost is not material.

18.

DEBTORS

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	322,781	956,108	-	-
Amounts owed by group undertakings	-	-	-	3,733,246
Other debtors	570,488	1,241,102	43,441	79,909
Prepayments and accrued income	215,396	351,506	-	-
Tax recoverable	-	1,491	-	1,491
Deferred taxation	41,215	56,058	-	37,077
Amounts due from members	453,558	-	-	-
	1,603,438	2,606,265	43,441	3,851,723

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

19.	CASH AND CASH EQUIVALENTS
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	2,758,239	3,015,965	1,128,749	1,184,038
Less: bank overdrafts	(3,632)	-	-	-
	2,754,607	3,015,965	1,128,749	1,184,038

Page 39

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

20.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank overdrafts	3,632	-	-	-
Bank loans	110,000	110,000	-	-
Other loans	2,495,855	1,568,970	2,495,855	784,465
Trade creditors	1,368,297	2,007,187	3,441	11,992
Amounts owed to group undertakings	-	-	1,770,902	-
Other taxation and social security	596,492	150,809	13,610	-
Obligations under finance lease and hire purchase contracts	45,359	163,917	-	-
Other creditors	499,466	716,361	29,682	29,872
Accruals and deferred income	925,356	924,547	-	-
	6,044,457	5,641,791	4,313,490	826,329

Obligations under finance lease and hire purchase contracts are secured by the assets to which they relate.

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

21.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	91,667	201,668	-	-
Other loans	-	1,728,744	-	1,728,744
	91,667	1,930,412	-	1,728,744

Page 40

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

22.	LOANS
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	110,000	110,000	-	-
Other loans	2,495,855	1,568,970	2,495,855	784,465
	2,605,855	1,678,970	2,495,855	784,465
AMOUNTS FALLING DUE 1-2 YEARS
Bank loans	91,667	201,668	-	-
Other loans	-	1,728,744	-	1,728,744
	91,667	1,930,412	-	1,728,744


	2,697,522	3,609,382	2,495,855	2,513,209

Bank loans comprise Government backed "bounce back" loans. These loans are 100% guaranteed by the Government. The annual rate applied to the loan is 2.5%.

Other loans are repayable in line with the loan agreements and incur an interest charge of between 4% and 5.25% per annum.

23.	DEFERRED TAXATION
	Group

	2025	2024
	£	£

At beginning of year	(56,058)	(56,058)
Credited to profit or loss	14,843	-
AT END OF YEAR	(41,215)	(56,058)

Page 41

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

23.DEFERRED TAXATION (CONTINUED)

Company

	2025	2024
	£	£

At beginning of year	(37,077)	(37,077)
Charged to profit or loss	37,077	-
AT END OF YEAR	-	(37,077)

The deferred tax asset is made up as follows:
	Group	Group	Company	Company
	2025	2024	2025	2024
	£	£	£	£

	Accelerated capital allowances	(41,215)	(56,058)	-	(37,077)
		(41,215)	(56,058)	-	(37,077)

24.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

138 (2024 - 138) Ordinary A shares of £1.00 each	138	138
34 (2024 - 34) Ordinary B shares of £1.00 each	34	34
9 (2024 - 9) Ordinary C shares of £1.00 each	9	9

	181	181

Page 42

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

25.

RESERVES

Share premium account

This reserve records the amount above the nominal value received for shares sold, less transaction costs.

Revaluation reserve

The revaluation reserve includes all unrealised gains and losses unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Profit and loss account

Includes all current and prior period retained profits and losses.

26.	ANALYSIS OF NET DEBT

		At 1 August 2024	Cash flows	At 31 July 2025
		£	£	£

Cash at bank and in hand	3,015,965	(257,726)	2,758,239
Bank overdrafts	-	(3,632)	(3,632)
Debt due after 1 year	(1,930,412)	1,838,745	(91,667)
Debt due within 1 year	(1,678,970)	(926,885)	(2,605,855)
Finance leases	(163,917)	118,558	(45,359)
	(757,334)	769,060	11,726

27.	PRIOR YEAR ADJUSTMENT

During the prior year the Company transferred certain land and properties to a directors’ pension scheme. At the same time the loan between the Company and the pension scheme was reduced by a compensating amount. The assets were transferred to the pension scheme at £400k being the insurance value of the assets at the date of the transfer. The net book value of these assets was in excess of the insurance value of the assets in the Company’s accounts and accordingly the residual value of the assets should have been recognised as a loss on disposal of fixed assets in the prior year.

During the prior year the Company did not fully eliminate the disposal of this fixed asset from their accounts and included within fixed assets was an amount of £852k in connection with this asset. This should have been eliminated on disposal in the prior year and, accordingly, represents a material prior year error. An adjustment has been made in these financial statements to correct this error with the following impact on the comparatives:

∙Reduction in tangible fixed assets of £852k; and

∙Increase in loss on disposal of fixed assets £852k

The adjustment has no impact on the Company’s brought forward reserves.

Page 43

CROWN HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

28.	PENSION COMMITMENTS

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost represents contributions payable by the Group to the fund and amounted to £191,301 (2024 - £205,115). Contributions amounting to £20,141 (2024 - £20,000) were payable to the fund at the balance sheet date.

29.

RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the Group.

At the 31 July 2025, an amount of £2,495,855 (2024 - £2,513,209) was payable to the pension fund of Mr R L C Morgan and Mrs D Morgan, shareholders and directors of the Company. During the year an interest cost of £271,894 (2024 - £45,000) was recognised within the profit or loss account in relation to the loan.

30.	CONTROLLING PARTY

The Group is controlled by Mr R L C Morgan, director, by virtue of his ownership of the majority of the issued share capital of the parent company.

Page 44