Company registration number 10467697 (England and Wales)
CROWN NORTHAMPTON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
PAGES FOR FILING WITH REGISTRAR
CROWN NORTHAMPTON LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CROWN NORTHAMPTON LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2021
30 November 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,832
1,338
Current assets
Debtors
4
153,125
12,380
Cash at bank and in hand
289,700
29,384
442,825
41,764
Creditors: amounts falling due within one year
5
(384,794)
(40,994)
Net current assets
58,031
770
Total assets less current liabilities
59,863
2,108
Creditors: amounts falling due after more than one year
6
(40,000)
Net assets
19,863
2,108
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
19,862
2,107
Total equity
19,863
2,108
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 November 2022
Mr Christopher Woodford
Director
Company Registration No. 10467697
CROWN NORTHAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 2 -
1
Accounting policies
Company information
Crown Northampton Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 86, Bunting Road, Kingsthorpe, Northampton, Northamptonshire, United Kingdom, NN2 6EE.
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 a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% SLM
IT Equipment
33% SLM
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
.
CROWN NORTHAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
1
Accounting policies
(Continued)
- 3 -
1.4
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.
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method 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.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
CROWN NORTHAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2020
2,870
Additions
1,561
At 30 November 2021
4,431
Depreciation and impairment
At 1 December 2020
1,532
Depreciation charged in the year
1,067
At 30 November 2021
2,599
Carrying amount
At 30 November 2021
1,832
At 30 November 2020
1,338
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
78,074
Other debtors
75,051
12,380
153,125
12,380
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
119,497
Trade creditors
265,007
40,581
Other creditors
290
413
384,794
40,994
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
40,000
CROWN NORTHAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 5 -
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Allotted, called-up and fully paid
1
1
1
1