Caseware UK (AP4) 2023.0.135 2023.0.135 true2022-11-01falseproperty investment33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 610637 2022-11-01 2023-10-31 610637 2021-11-01 2022-10-31 610637 2023-10-31 610637 2022-10-31 610637 2021-11-01 610637 7 2022-11-01 2023-10-31 610637 7 2021-11-01 2022-10-31 610637 d:Director3 2022-11-01 2023-10-31 610637 e:PlantMachinery 2022-11-01 2023-10-31 610637 e:PlantMachinery 2023-10-31 610637 e:PlantMachinery 2022-10-31 610637 e:OfficeEquipment 2022-11-01 2023-10-31 610637 e:OfficeEquipment 2023-10-31 610637 e:OfficeEquipment 2022-10-31 610637 e:FreeholdInvestmentProperty 2023-10-31 610637 e:FreeholdInvestmentProperty 2022-10-31 610637 e:FreeholdInvestmentProperty 2 2022-11-01 2023-10-31 610637 e:CurrentFinancialInstruments 2023-10-31 610637 e:CurrentFinancialInstruments 2022-10-31 610637 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 610637 e:CurrentFinancialInstruments e:WithinOneYear 2022-10-31 610637 e:ShareCapital 2023-10-31 610637 e:ShareCapital 2021-11-01 2022-10-31 610637 e:ShareCapital 2022-10-31 610637 e:ShareCapital 2021-11-01 610637 e:RevaluationReserve 2022-11-01 2023-10-31 610637 e:RevaluationReserve 2023-10-31 610637 e:RevaluationReserve 7 2022-11-01 2023-10-31 610637 e:RevaluationReserve 2021-11-01 2022-10-31 610637 e:RevaluationReserve 2022-10-31 610637 e:RevaluationReserve 2021-11-01 610637 e:RevaluationReserve 7 2021-11-01 2022-10-31 610637 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 610637 e:RetainedEarningsAccumulatedLosses 2023-10-31 610637 e:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 610637 e:RetainedEarningsAccumulatedLosses 2022-10-31 610637 e:RetainedEarningsAccumulatedLosses 2021-11-01 610637 d:FRS102 2022-11-01 2023-10-31 610637 d:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 610637 d:FullAccounts 2022-11-01 2023-10-31 610637 d:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 610637 e:OtherDeferredTax 2023-10-31 610637 e:OtherDeferredTax 2022-10-31 610637 f:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Registered number: 610637





 
J.R. Cross Limited          
 
Financial statements          

For the year ended 31 October 2023          

 
J.R. Cross Limited
Registered number:610637

Balance sheet
As at 31 October 2023


2023

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Investment property
 5 
1,200,000
640,000

Current assets
  

Debtors
 6 
64,886
48,609

Cash at bank and in hand
 7 
24,031
33,626

  
88,917
82,235

Creditors: amounts falling due within one year
 8 
(236,942)
(133,575)

Net current liabilities
  
 
 
(148,025)
 
 
(51,340)

Total assets less current liabilities
  
1,051,975
588,660

Provisions for liabilities
  

Deferred tax
 9 
(215,756)
(75,756)

Net assets
  
836,219
512,904


Capital and reserves
  

Called up share capital 
  
1,500
1,500

Investment property revaluation reserve
  
794,826
374,826

Profit and loss account
  
39,893
136,578

  
836,219
512,904


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 30 July 2024.


Julia Nash
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
J.R. Cross Limited
 

Statement of changes in equity
For the year ended 31 October 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 November 2022
1,500
374,826
136,578
512,904



Profit for the year
-
-
467,315
467,315

Transfer to revaluation reserve
-
-
(420,000)
(420,000)

Dividends: Equity capital
-
-
(144,000)
(144,000)

Transfer from profit and loss account
-
420,000
-
420,000


At 31 October 2023
1,500
794,826
39,893
836,219




 


Statement of changes in equity
For the year ended 31 October 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 November 2021
500
340,357
152,215
493,072



Profit for the year
-
-
82,832
82,832

Transfer to revaluation reserve
-
-
(34,469)
(34,469)

Dividends: Equity capital
-
-
(63,000)
(63,000)

Bonus issue
-
-
(1,000)
(1,000)

Shares issued
1,000
-
-
1,000

Transfer from profit and loss account
-
34,469
-
34,469


At 31 October 2022
1,500
374,826
136,578
512,904






The notes on pages 8 to 13 form part of these accounts.
Page 2

 
J.R. Cross Limited
 
 
Notes to the financial statements
For the year ended 31 October 2023

1.


General information

J.R. Cross Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rates:

Plant and machinery
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
J.R. Cross Limited
 
 
Notes to the financial statements
For the year ended 31 October 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors, having regard to professional advice taken personally and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
J.R. Cross Limited
 
 
Notes to the financial statements
For the year ended 31 October 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
J.R. Cross Limited
 
 
Notes to the financial statements
For the year ended 31 October 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 November 2022
6,531
487
7,018



At 31 October 2023

6,531
487
7,018



Depreciation


At 1 November 2022
6,531
487
7,018



At 31 October 2023

6,531
487
7,018



Net book value



At 31 October 2023
-
-
-



At 31 October 2022
-
-
-


5.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
640,000


Surplus on revaluation
560,000



At 31 October 2023
1,200,000

The 2023 valuations were made by the directors, having regard to professional advice taken personally, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
189,418
189,418

Page 6

 
J.R. Cross Limited
 
 
Notes to the financial statements
For the year ended 31 October 2023

6.


Debtors

2023
2022
£
£


Trade debtors
63,119
46,320

Prepayments and accrued income
1,767
2,289

64,886
48,609



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
24,031
33,626



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,767
-

Corporation tax
11,589
11,345

Other creditors
219,986
118,828

Accruals and deferred income
3,600
3,402

236,942
133,575


Page 7

 
J.R. Cross Limited
 
 
Notes to the financial statements
For the year ended 31 October 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
75,756
45,225


Charge for the year
140,000
30,531



At end of year
215,756
75,756

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised surplus on revaluation of freehold investment property
215,756
75,756

 


Page 8