Crownwood Estates (Ashdown Forest) - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06693998 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 28 February 2014

for

Crownwood Estates (Ashdown Forest)

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S Roots

SECRETARY:

F V Roots

REGISTERED OFFICE:

5 Sterling Barns

Knowle Lane

Cranleigh

Surrey

GU6 8JP

REGISTERED NUMBER:

06693998 (England and Wales)

ACCOUNTANTS:

CAAS

Chartered Accountants

Suite 203, 2nd Floor

China House

401 Edgware Road

London

NW2 6GY

CURRENT ASSETS

Stocks

4,835,850

5,196,594

Debtors

9,923

8,381

Cash at bank

39,003

36,407

4,884,776

5,241,382

CREDITORS

Amounts falling due within one year

2

6,532,750

6,069,488

NET CURRENT LIABILITIES

(1,647,974

)

(828,106

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,647,974

)

(828,106

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(1,647,976

)

(828,108

)

SHAREHOLDERS' FUNDS

(1,647,974

)

(828,106

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 November 2014 and were signed by:

S Roots - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

At 28 February 2014, the balance sheet showed net current liabilities and a deficit of £1,647,974 (2013:

£828,106). Dunbar Bank Plc has given an undertaking to financially support the company for a period of at least

12 months from the date of signature of these accounts. On this basis, the director considers it appropriate to

prepare the financial statements on the going concern basis.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads in the

development of The Former Ashdown Works, Hartfield Road, Forest Row, East Sussex.

Deferred tax

Deferred tax is accounted for on an undiscounted basis at expected tax rates on all differences arising from the

inclusion of items of income and expenditure in taxation computations in periods different from those in which

they are included in the financial statements. A deferred tax asset is only recognised when it is more likely than

not that the asset will be recoverable in the foreseeable future out of suitable taxable profits from which the

underlying timing differences can be deducted.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and

the amount can be reliably estimated. Provisions are not recognised for future operating losses.

2.

CREDITORS

Creditors include an amount of £ 6,455,325 (28.2.13 - £ 5,990,537 ) for which security has been given.

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

2

Share capital 1

£1

2

2

4.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Roots.