CRWP (Honey Pot) Limited Filleted accounts for Companies House (small and micro)

CRWP (HONEY POT) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10656029

CRWP (Honey Pot) Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2020

CRWP (Honey Pot) Limited

Financial Statements

Year ended 31 March 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

CRWP (Honey Pot) Limited

Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Tangible assets	5		553,599		553,599

Current assets

Debtors	6	67,926	37,822
Cash at bank and in hand		109,225	46,472
		----------	--------
		177,151	84,294

Creditors: amounts falling due within one year	7	( 74,726)		( 19,551)
		----------		--------
Net current assets			102,425		64,743
			----------		----------
Total assets less current liabilities			656,024		618,342

Creditors: amounts falling due after more than one year	8	( 564,503)	( 588,562)
		----------	----------
Net assets		91,521	29,780
		----------	----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	91,520	29,779
	--------	--------
Shareholders funds	91,521	29,780
	--------	--------

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 income statement has not been delivered.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CRWP (Honey Pot) Limited

Statement of Financial Position (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 29 January 2021 , and are signed on behalf of the board by:

Mr CR White
Director

Company registration number: 10656029

CRWP (Honey Pot) Limited

Notes to the Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6-8 Carlisle Street, Goole, East Yorkshire, DN14 5DX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

(a) 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.

(b) Current and deferred 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 be paid or recovered 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.

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

(d) Financial instruments

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 entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 1 (2019: 1).

5. Tangible assets

	Freehold property
	£
Cost
At 1 April 2019 and 31 March 2020	553,599
	----------
Depreciation
At 1 April 2019 and 31 March 2020	–
	----------
Carrying amount
At 31 March 2020	553,599
	----------
At 31 March 2019	553,599
	----------

The freehold land and buildings were valued in February 2017 on an open market value basis at £530,000. The valuation was undertaken by EBG Chartered Surveyors. Additions since are stated at cost. The directors consider the net book value at 31 March 2020 to be in line with open market value.

6. Debtors

	2020	2019
	£	£
Trade debtors	63,369	19,988
Other debtors	4,557	17,834
	--------	--------
	67,926	37,822
	--------	--------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	21,538	–
Accruals and deferred income	24,804	10,813
Corporation tax	14,500	7,400
Social security and other taxes	13,884	1,338
	--------	--------
	74,726	19,551
	--------	--------

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Directors loan account	564,503	588,562
	----------	----------

9. Events after the end of the reporting period

In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. Despite all of this, the company has traded profitably in the period to date.

10. Related party transactions

The director has made a loan to the company. At the end of the period a balance of £ 564,503 (2019: £588,562) was owed to the director. No interest was charged on the loan during the year. No repayment of the loan in expected before 31 March 2021.