Crownrock Ventures Limited - Accounts to registrar (filleted) - small 18.2

Crownrock Ventures Limited - Accounts to registrar (filleted) - small 18.2

CROWNROCK VENTURES LTD - Company Information

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REGISTERED NUMBER: 03690209 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

CROWNROCK VENTURES LIMITED
CROWNROCK VENTURES LIMITED (REGISTERED NUMBER: 03690209)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


CROWNROCK VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2018







DIRECTOR: J Fekete





SECRETARY: Mrs R Fekete





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 03690209 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
CROWNROCK VENTURES LIMITED (REGISTERED NUMBER: 03690209)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2018

31.12.18 31.12.17
(Restated)
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 2,000,000 2,000,000

CURRENT ASSETS
Debtors 611,531 459,503
Cash at bank 8,563 18,284
620,094 477,787
CREDITORS
Amounts falling due within one year 147,677 19,259
NET CURRENT ASSETS 472,417 458,528
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,472,417
2,458,528

CREDITORS
Amounts falling due after more than one
year
6
(491,937
)
(498,000
)

PROVISIONS FOR LIABILITIES 9 (258,399 ) (258,399 )
NET ASSETS 1,722,081 1,702,129

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 1,458,004 1,458,004
Retained earnings 11 264,076 244,124
SHAREHOLDERS' FUNDS 1,722,081 1,702,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
CROWNROCK VENTURES LIMITED (REGISTERED NUMBER: 03690209)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2018


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved and authorized for issue by the director on 19 September 2019 and were signed
by:





J Fekete - Director


The notes form part of these financial statements

Page 3
CROWNROCK VENTURES LIMITED (REGISTERED NUMBER: 03690209)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018

1. STATUTORY INFORMATION

Crownrock Ventures 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 the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

Page 4 continued...
CROWNROCK VENTURES LIMITED (REGISTERED NUMBER: 03690209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2018
and 31 December 2018 2,000,000
NET BOOK VALUE
At 31 December 2018 2,000,000
At 31 December 2017 2,000,000

Fair value at 31 December 2018 is represented by:

£   
Valuation in 2016 1,716,403
Cost 283,597
2,000,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.12.18 31.12.17
(Restated)
£    £   
Repayable otherwise than by instalments
Bank loan - 124,899
Bank loan - 373,101
- 498,000

Repayable by instalments
Bank loans more 5 yr by instal 491,937 -

7. LOANS

An analysis of the maturity of loans is given below:

31.12.18 31.12.17
(Restated)
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loan - 124,899
Bank loan - 373,101
- 498,000

Repayable by instalments
Bank loans more 5 yr by instal 491,937 -

Page 5 continued...
CROWNROCK VENTURES LIMITED (REGISTERED NUMBER: 03690209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.18 31.12.17
(Restated)
£    £   
Bank loans 491,937 498,000

The bank loans are secured by a first charge over the company's investment properties and bear interest at
variable rates.

9. PROVISIONS FOR LIABILITIES
31.12.18 31.12.17
(Restated)
£    £   
Deferred tax 258,399 258,399

Deferred
tax
£   
Balance at 1 January 2018 258,399
Balance at 31 December 2018 258,399

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.18 31.12.17
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2018 244,124 1,458,004 1,702,128
Profit for the year 19,952 19,952
At 31 December 2018 264,076 1,458,004 1,722,080

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Fekete.

Page 6