2023-01-012023-12-312023-12-31false08816423CROSSFIELD HOMES 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CROSSFIELD HOMES LIMITED

Registered Number
08816423
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

CROSSFIELD HOMES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

WILSON, Elizabeth Ann
WILSON, Timothy John Ratcliffe

Registered Address

Larch Barn Low Sober Farm
Warlaby
Northallerton
DL7 9JT

Registered Number

08816423 (England and Wales)
CROSSFIELD HOMES LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks1,220,4981,120,040
Debtors386,78886,488
Cash at bank and on hand2,07113,453
1,309,3571,219,981
Creditors amounts falling due within one year4(840)(792)
Net current assets (liabilities)1,308,5171,219,189
Total assets less current liabilities1,308,5171,219,189
Creditors amounts falling due after one year5(1,588,585)(1,498,463)
Net assets(280,068)(279,274)
Capital and reserves
Called up share capital22
Profit and loss account(280,070)(279,276)
Shareholders' funds(280,068)(279,274)
The financial statements were approved and authorised for issue by the Board of Directors on 1 August 2024, and are signed on its behalf by:
WILSON, Timothy John Ratcliffe
Director
Registered Company No. 08816423
CROSSFIELD HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year22
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables2,6882,688
Other debtors84,10083,800
Total86,78886,488
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.
4.Creditors: amounts due within one year

2023

2022

££
Accrued liabilities and deferred income840792
Total840792
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.
5.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties1,247,1401,157,810
Other creditors341,445340,653
Total1,588,5851,498,463
6.Related party transactions
Included in other creditors is a loan owed to the directors. The loan is interest free with no set terms for repayment.