Crown Gate Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09338381 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Crown Gate Homes Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D West

A Sherwood

SECRETARY:

D West

REGISTERED OFFICE:

Westside House, Westside Centre

London Road

Stanway

Colchester

Essex

CO3 8PB

REGISTERED NUMBER:

09338381 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crown Gate Homes Ltd for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Crown Gate Homes Ltd, as a body, in accordance with the terms of our engagement letter dated 11 September 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Crown Gate Homes Ltd and state those matters that we have agreed to state to the Board of Directors of Crown Gate Homes Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crown Gate Homes Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Crown Gate Homes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Crown Gate Homes Ltd. You consider that Crown Gate Homes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Crown Gate Homes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

26 September 2022

FIXED ASSETS

Tangible assets

5

9,130

14,908

CURRENT ASSETS

Stocks

1,161,833

-

Debtors

6

444,506

160,455

Cash at bank

83,564

1,187,328

1,689,903

1,347,783

CREDITORS

Amounts falling due within one year

7

487,490

143,550

NET CURRENT ASSETS

1,202,413

1,204,233

TOTAL ASSETS LESS CURRENT LIABILITIES

1,211,543

1,219,141

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,211,541

1,219,139

1,211,543

1,219,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2022 and were signed on its behalf by:

D West - Director

1.	STATUTORY INFORMATION

Crown Gate Homes Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

COVID-19 is not expected to have a significant impact on the entity. Management has determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern. It expects that COVID-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

23,115

DEPRECIATION

At 1 January 2021

8,207

Charge for year

5,778

At 31 December 2021

13,985

NET BOOK VALUE

At 31 December 2021

9,130

At 31 December 2020

14,908

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Trade debtors

-

11,093

Amounts owed by connected parties

11,000

142,322

Other debtors

433,506

7,040

444,506

160,455

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Trade creditors

77,251

17,559

Amounts owed to group undertakings

279,040

-

Taxation and social security

112,123

115,953

Other creditors

19,076

10,038

487,490

143,550

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31/12/21

31/12/20

£

£

D West

Balance outstanding at start of year

-

-

Amounts advanced

165,517

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

165,517

-

A Sherwood

Balance outstanding at start of year

-

-

Amounts advanced

219,901

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

219,901

-

The directors loans were repaid in full shortly after the balance sheet date.

During the year the company bought land from Gro Living Ltd for £435,000. This company is controlled by the director, Mr A Sherwood.

9.	RELATED PARTY DISCLOSURES

As at the balance sheet date, the company was owed £11,000 (2020: £11,000) by RF West Limited, a company in which Mr West is also a director and shareholder.

The company is a wholly owned subsidiary of Crowngate Holdings Ltd. The directors jointly have control over the parent company.