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REGISTERED NUMBER: 05076183 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Cross Sport Ltd

Cross Sport Ltd (Registered number: 05076183)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cross Sport Ltd

Company Information
for the Year Ended 31st March 2023







DIRECTORS: J Cross
Mrs R A M Houttave





SECRETARY: Mrs R A M Houttave





REGISTERED OFFICE: Unit 8 Templar Court
Knights Park Road
Houndmills Industrial Estate
Basingstoke
Hampshire
RG21 6AB





REGISTERED NUMBER: 05076183 (England and Wales)





ACCOUNTANTS: Bew & Co Limited
Chartered Accountants
130 High Street
Marlborough
Wiltshire
SN8 1LZ

Cross Sport Ltd (Registered number: 05076183)

Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,000 2,000
Tangible assets 5 98,542 106,213
Investment property 6 299,699 299,699
399,241 407,912

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 7 18,315 17,434
Cash at bank and in hand 3,861 10,915
32,176 38,349
CREDITORS
Amounts falling due within one year 8 940,886 936,706
NET CURRENT LIABILITIES (908,710 ) (898,357 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(509,469

)

(490,445

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (509,471 ) (490,447 )
SHAREHOLDERS' FUNDS (509,469 ) (490,445 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

Cross Sport Ltd (Registered number: 05076183)

Balance Sheet - continued
31st March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th November 2023 and were signed on its behalf by:





J Cross - Director


Cross Sport Ltd (Registered number: 05076183)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Cross Sport 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis in the light of support from the directors.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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.


Cross Sport Ltd (Registered number: 05076183)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 20,000
AMORTISATION
At 1st April 2022 18,000
Charge for year 1,000
At 31st March 2023 19,000
NET BOOK VALUE
At 31st March 2023 1,000
At 31st March 2022 2,000

Cross Sport Ltd (Registered number: 05076183)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 129,303 185,555 314,858
DEPRECIATION
At 1st April 2022 38,579 170,066 208,645
Charge for year 2,586 5,085 7,671
At 31st March 2023 41,165 175,151 216,316
NET BOOK VALUE
At 31st March 2023 88,138 10,404 98,542
At 31st March 2022 90,724 15,489 106,213

6. INVESTMENT PROPERTY
Total
£   
COST
At 1st April 2022
and 31st March 2023 299,699
NET BOOK VALUE
At 31st March 2023 299,699
At 31st March 2022 299,699

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 8,056 10,217
Other debtors 10,259 7,217
18,315 17,434

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 11,183 9,889
Taxation and social security 1,011 2,092
Other creditors 928,692 924,725
940,886 936,706