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CROSSAN MOTORCYCLES TRADING LTD

Registered Number
NI673924
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

CROSSAN MOTORCYCLES TRADING LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

FEGAN, Adrian John
MAGEE, Della Anne-Marie

Registered Address

51 Crossan Road
Newry
BT34 2HY

Registered Number

NI673924 (Northern Ireland)
CROSSAN MOTORCYCLES TRADING LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks3157,140218,345
Debtors43,311117,826
Cash at bank and on hand449,848408,842
650,299745,013
Creditors amounts falling due within one year4(506,829)(671,763)
Net current assets (liabilities)143,47073,250
Total assets less current liabilities143,47073,250
Net assets143,47073,250
Capital and reserves
Called up share capital100100
Profit and loss account143,37073,150
Shareholders' funds143,47073,250
The financial statements were approved and authorised for issue by the Board of Directors on 5 September 2024, and are signed on its behalf by:
FEGAN, Adrian John
Director
Registered Company No. NI673924
CROSSAN MOTORCYCLES TRADING LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
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).
2.Average number of employees

20242023
Average number of employees during the year00
3.Stocks

2024

2023

££
Finished goods157,140218,345
Total157,140218,345
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables480,137661,503
Bank borrowings and overdrafts47718
Taxation and social security20,2157,242
Accrued liabilities and deferred income6,0003,000
Total506,829671,763
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.