Registration number: 01209529

Cross And McCarthy Limited

Profit and Loss Account for the Year Ended 30 November 2022

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

Cross And McCarthy Limited

(Registration number: 01209529)
Balance Sheet as at 30 November 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	3	1,234	1,646
Current assets
Debtors	4	19,870	23,276
Cash at bank and in hand		22,644	31,462
		42,514	54,738
Creditors: Amounts falling due within one year	6	(3,565)	(10,572)
Net current assets		38,949	44,166
Net assets		40,183	45,812
Capital and reserves
Called up share capital	7	100	100
Retained earnings		40,083	45,712
Shareholders' funds		40,183	45,812

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 August 2023
 

......................................... Mr John McCarthy Director

Cross And McCarthy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Little Mead
Hollingdon
Buckinghamshire
LU7 0DN
England

The principal place of business is:
Nordwic
Parkfield Street
Rowhedge
Colchester
CO5 7EL

These financial statements were authorised for issue by the director on 25 August 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis

Cross And McCarthy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Cross And McCarthy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

3	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 December 2021	503	3,740	1,149	5,392
At 30 November 2022	503	3,740	1,149	5,392
Depreciation
At 1 December 2021	436	2,162	1,148	3,746
Charge for the year	17	395	-	412
At 30 November 2022	453	2,557	1,148	4,158
Carrying amount
At 30 November 2022	50	1,183	1	1,234
At 30 November 2021	67	1,578	1	1,646

4

Debtors

Current	2022 £	2021 £
Trade debtors	(166)	1,634
Other debtors	20,036	21,642
	19,870	23,276

5	Cash and cash equivalents

	2022 £	2021 £
Cash at bank	6,406	2,234
Short-term deposits	16,238	29,228
	22,644	31,462

Cross And McCarthy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

6

Creditors

	Note	2022 £	2021 £
Due within one year
Loans and borrowings	8	342	7,537
Trade creditors		-	212
Other payables		2,073	2,073
Accruals		1,150	750
		3,565	10,572

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Loans and borrowings

	2022 £	2021 £
Current loans and borrowings
Other borrowings	342	7,537