CROWN_YEALM_LIMITED - Accounts

CROWN YEALM LIMITED - Company Information

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Company Registration No. 04291190 (England and Wales)

CROWN YEALM LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

CROWN YEALM LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

CROWN YEALM LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,570,182

3,605,543

Investments

3,570,183

3,605,544

Current assets

Debtors

37,552

60,952

Cash at bank and in hand

109,102

91,672

146,654

152,624

Creditors: amounts falling due within one year

(228,232)

(183,795)

Net current liabilities

(81,578)

(31,171)

Total assets less current liabilities

3,488,605

3,574,373

Creditors: amounts falling due after more than one year

(2,178,136)

(2,324,707)

Provisions for liabilities

(45,635)

(45,352)

1,264,834

1,204,314

Capital and reserves

Called up share capital

Revaluation reserve

1,469,575

Profit and loss account

(204,743)

(265,263)

Shareholders' funds

1,264,834

1,204,314

CROWN YEALM LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 July 2016

Mr J W Johns

Mrs S M Johns

Director

Company Registration No. 04291190

CROWN YEALM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance method

Computer equipment

50% reducing balance method

Computer software

Straight line over 5 years

Motor vehicles

Straight line over 3 years

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

CROWN YEALM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 April 2015 & at 31 March 2016

3,919,944

3,919,945

Depreciation

At 1 April 2015

314,401

Charge for the year

35,361

At 31 March 2016

349,762

Net book value

At 31 March 2016

3,570,182

3,570,183

At 31 March 2015

3,605,543

3,605,544

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Ucan Store.com Limited

United Kingdom

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Ucan Store.com Limited

Self storage facility

18,548

(1,594)

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £149,666 (2015 - £142,741).

CROWN YEALM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

1,629,484

1,742,643

The aggregate amount of creditors for which security has been given amounted to £2,178,136 (2015 - £2,324,707).

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary "A" shares of 50p each

2 Ordinary "B" shares of 50p each