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REGISTERED NUMBER: 07194623 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Crossway Insulation Ltd

Crossway Insulation Ltd (Registered number: 07194623)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crossway Insulation Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr B A D Turner
Mrs J M Turner





SECRETARY: Mrs J M Turner





REGISTERED OFFICE: c/o Ency Associates
Printware Court, Cumberland Business Ctr
Northumberland Road
Portsmouth
Hampshire
PO5 1DS





REGISTERED NUMBER: 07194623 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

Crossway Insulation Ltd (Registered number: 07194623)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,358 4,678

CURRENT ASSETS
Stocks - 200
Debtors 5 61,468 48,071
Cash at bank and in hand 111,958 56,145
173,426 104,416
CREDITORS
Amounts falling due within one year 6 57,343 63,049
NET CURRENT ASSETS 116,083 41,367
TOTAL ASSETS LESS CURRENT LIABILITIES 119,441 46,045

PROVISIONS FOR LIABILITIES 890 888
NET ASSETS 118,551 45,157

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 118,451 45,057
SHAREHOLDERS' FUNDS 118,551 45,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Crossway Insulation Ltd (Registered number: 07194623)

Balance Sheet - continued
31 March 2024


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 26 July 2024 and were signed on its behalf by:





Mr B A D Turner - Director


Crossway Insulation Ltd (Registered number: 07194623)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Crossway Insulation 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.

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 & machinery - 25% on reducing balance
Fixtures & fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.


Crossway Insulation Ltd (Registered number: 07194623)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant & Fixtures Motor Computer
machinery & fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 392 8,210 28,536 2,422 39,560
DEPRECIATION
At 1 April 2023 98 6,320 26,042 2,422 34,882
Charge for year 73 624 623 - 1,320
At 31 March 2024 171 6,944 26,665 2,422 36,202
NET BOOK VALUE
At 31 March 2024 221 1,266 1,871 - 3,358
At 31 March 2023 294 1,890 2,494 - 4,678

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 41,736 42,802
Other debtors 19,732 5,269
61,468 48,071

Crossway Insulation Ltd (Registered number: 07194623)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 5,281 11,448
Taxation and social security 50,502 17,887
Other creditors 1,560 33,714
57,343 63,049

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr B A D Turner and Mrs J M Turner
Balance outstanding at start of year - -
Amounts advanced 13,657 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,657 -

8. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.