Registered number
07786713
Crosslink Solutions Limited
Filleted Accounts
31 December 2023
Crosslink Solutions Limited
Registered number: 07786713
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 45,979 56,105
Current assets
Stocks 90,000 120,922
Debtors 4 146,817 134,630
Cash at bank and in hand 433,083 660,908
669,900 916,460
Creditors: amounts falling due within one year 5 (194,729) (179,309)
Net current assets 475,171 737,151
Total assets less current liabilities 521,150 793,256
Provisions for liabilities (229) (1,551)
Net assets 520,921 791,705
Capital and reserves
Called up share capital 3 3
Profit and loss account 520,918 791,702
Shareholders' funds 520,921 791,705
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J Mills
Director
Approved by the board on 23 September 2024
Crosslink Solutions Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 51,540 147,389 198,929
Additions 5,197 - 5,197
At 31 December 2023 56,737 147,389 204,126
Depreciation
At 1 January 2023 41,593 101,231 142,824
Charge for the year 3,784 11,539 15,323
At 31 December 2023 45,377 112,770 158,147
Net book value
At 31 December 2023 11,360 34,619 45,979
At 31 December 2022 9,947 46,158 56,105
4 Debtors 2023 2022
£ £
Trade debtors 146,817 134,630
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 98,329 100,456
Taxation and social security costs 94,437 76,941
Other creditors 1,963 1,912
194,729 179,309
6 Controlling party
The company was under the control of Mr and Mrs R J Mills throughout the year. Mr and Mrs Mills are the company's directors and, together with members of their close family, hold 100% of the issued share capital of the company's holding company, Crosslink Holdings Limited.
7 Other information
Crosslink Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4.06
Cannock Chase Enterprise Centre
Walkers Rise
Hednesford
Cannock
Staffs
WS12 0QU
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