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CROSSFIRE LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023






CROSSFIRE LTD (REGISTERED NUMBER: 08938510)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CROSSFIRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: S F Fallon
S Fallon





REGISTERED OFFICE: Unit 4 Kimpton Link Business Centre
40 Kimpton Road
Sutton
Surrey
SM3 9QP





REGISTERED NUMBER: 08938510 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

CROSSFIRE LTD (REGISTERED NUMBER: 08938510)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,495 3,830

CURRENT ASSETS
Debtors 6 38,646 82,837
Cash at bank 189,300 53,287
227,946 136,124
CREDITORS
Amounts falling due within one year 7 89,082 42,684
NET CURRENT ASSETS 138,864 93,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,359

97,270

PROVISIONS FOR LIABILITIES 120 296
NET ASSETS 141,239 96,974

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 141,139 96,874
SHAREHOLDERS' FUNDS 141,239 96,974

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.

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 31st August 2023 and were signed on its behalf by:



S Fallon - Director


CROSSFIRE LTD (REGISTERED NUMBER: 08938510)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Crossfire 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

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.

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.

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.

4. EMPLOYEES AND DIRECTORS

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

CROSSFIRE LTD (REGISTERED NUMBER: 08938510)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st April 2022 17,369 699 4,808 22,876
Additions - - 200 200
Disposals - - (1,291 ) (1,291 )
At 31st March 2023 17,369 699 3,717 21,785
DEPRECIATION
At 1st April 2022 15,369 331 3,346 19,046
Charge for year 500 92 561 1,153
Eliminated on disposal - - (909 ) (909 )
At 31st March 2023 15,869 423 2,998 19,290
NET BOOK VALUE
At 31st March 2023 1,500 276 719 2,495
At 31st March 2022 2,000 368 1,462 3,830

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 15,972 81,874
Other debtors 450 450
Accrued income 14,724 513
Prepayments 7,500 -
38,646 82,837

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 7,486 16,247
Tax 37,385 11,704
VAT 31,609 10,433
Directors' current accounts 2,396 1,799
Deferred income 9,540 1,868
Accrued expenses 666 633
89,082 42,684

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £1,625 (2022 - £1,554) to S F Fallon, a director and shareholder of the company.The amount is interest free and repayable on demand.

At the balance sheet date, the company owed £771 (2022 - £245) to S Fallon, a director and shareholder of the company.The amount is interest free and repayable on demand.