Registered number
04450436
Crossglade Limited
Filleted Accounts
5 April 2023
Crossglade Limited
Registered number: 04450436
Balance Sheet
As at 5 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 149,715 262,351
Current assets
Work in progress 560,814 658,227
Debtors 4 674,332 630,083
Cash at bank and in hand 1,405,635 1,250,179
2,640,781 2,538,489
Creditors: amounts falling due within one year 5 (2,269,283) (1,437,365)
Net current assets 371,498 1,101,124
Net assets 521,213 1,363,475
Capital and reserves
Called up share capital 100 100
Profit and loss account 521,113 1,363,375
Shareholders' funds 521,213 1,363,475
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R A Nash
Director
Approved by the board on 27 June 2023
Crossglade Limited
Notes to the Accounts
For the year ended 5 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment and furniture 20% reducing balance
Equipment 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Office equipment and furniture Equipment Motor vehicles Total
£ £ £ £
Cost
At 6 April 2022 6,886 768,216 218,363 993,465
Disposals - (407,418) (134,934) (542,352)
At 5 April 2023 6,886 360,798 83,429 451,113
Depreciation
At 6 April 2022 6,079 547,558 177,477 731,114
Charge for the year 160 24,126 4,051 28,337
On disposals - (347,792) (110,261) (458,053)
At 5 April 2023 6,239 223,892 71,267 301,398
Net book value
At 5 April 2023 647 136,906 12,162 149,715
At 5 April 2022 807 220,658 40,886 262,351
4 Debtors 2023 2022
£ £
Trade debtors 670,332 629,173
Other debtors 4,000 910
674,332 630,083
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 150,587 151,334
Taxation and social security costs 582,756 665,719
Other creditors 1,535,940 620,312
2,269,283 1,437,365
6 Other information
Crossglade Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Royal Terrace
Southend on Sea
Essex
SS1 1EA
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