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REGISTERED NUMBER: 07251173 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ED CROSSLEY & ASSOCIATES LIMITED

ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)






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


ED CROSSLEY & ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr E J Crossley





REGISTERED OFFICE: First Floor
C1 Glenthorne Court
Threemilestone
Truro
Cornwall
TR4 9NY





REGISTERED NUMBER: 07251173 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 11,466 13,144
11,466 13,144

CURRENT ASSETS
Stocks 200 200
Debtors 7 669,179 591,148
Cash at bank 41 10,427
669,420 601,775
CREDITORS
Amounts falling due within one year 8 94,098 89,531
NET CURRENT ASSETS 575,322 512,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

586,788

525,388

PROVISIONS FOR LIABILITIES 2,866 3,297
NET ASSETS 583,922 522,091

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 583,822 521,991
SHAREHOLDERS' FUNDS 583,922 522,091

ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)

BALANCE SHEET - continued
31 MARCH 2024


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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





Mr E J Crossley - Director


ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ed Crossley & Associates Limited 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.

Revenue is recognised to turnover with respect to the progress of the underlying projects upon which the company provides services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost and 20% 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 Profit and Loss Account, 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.


ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. 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.

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 7 (2023 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 120,000
AMORTISATION
At 1 April 2023
and 31 March 2024 120,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,847 28,720 10,944 41,511
Additions 1,695 - 916 2,611
At 31 March 2024 3,542 28,720 11,860 44,122
DEPRECIATION
At 1 April 2023 1,521 16,956 9,890 28,367
Charge for year 693 2,353 1,243 4,289
At 31 March 2024 2,214 19,309 11,133 32,656
NET BOOK VALUE
At 31 March 2024 1,328 9,411 727 11,466
At 31 March 2023 326 11,764 1,054 13,144

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,691 65,036
Amounts recoverable on contracts 7,500 17,500
Other debtors 549,988 508,612
669,179 591,148

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 706 -
Taxation and social security 69,943 83,923
Other creditors 23,449 5,608
94,098 89,531

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr E J Crossley
Balance outstanding at start of year 112,084 -
Amounts advanced 38,480 209,724
Amounts repaid - (97,640 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 150,564 112,084

ED CROSSLEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 07251173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. RELATED PARTY DISCLOSURES

During the year, the Ed Crossley & Associates Limited provided services to associated companies in which the Director was a shareholder, and/or Director. During the year ending 31 March 2024, the company provided services totalling £62,000. (2023: £27,500)

At 31 March 2024, the associated companies owed £55,950 (2023: £5,250) in respect of the services provided.

The services are provided on a commercial basis, and normal commercial credit terms.

At 31 March 2024, loans were outstanding from the associated companies of £350,00. (2023: £350,500) these loans were interest free, repayable on demand, and included within other debtors.

Loans were advanced to Ed Crossley & Associated Limited by associated companies of £17,360. (2023: £nil.) These loans were free of interest, repayable on demand, and included within other creditors.

During the year, the Director withdrew net funds from his Directors' current account of £38,480 At 31 March 2024, the Director owed the company £150,564. (2023: £112,084.)

Interest has been charged on the overdrawn Director loan of £3,388.