2023-04-012024-03-312024-03-31false07525827Cross Retail Limited2024-09-25iso4217:GBPxbrli:pure075258272023-04-01075258272024-03-31075258272023-04-012024-03-31075258272022-04-01075258272023-03-31075258272022-04-012023-03-3107525827bus:SmallEntities2023-04-012024-03-3107525827bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3107525827bus:FullAccounts2023-04-012024-03-3107525827bus:PrivateLimitedCompanyLtd2023-04-012024-03-3107525827core:WithinOneYear2024-03-3107525827core:AfterOneYear2024-03-3107525827core:WithinOneYear2023-03-3107525827core:AfterOneYear2023-03-3107525827core:ShareCapital2024-03-3107525827core:SharePremium2024-03-3107525827core:RevaluationReserve2024-03-3107525827core:OtherReservesSubtotal2024-03-3107525827core:RetainedEarningsAccumulatedLosses2024-03-3107525827core:ShareCapital2023-03-3107525827core:SharePremium2023-03-3107525827core:RevaluationReserve2023-03-3107525827core:OtherReservesSubtotal2023-03-3107525827core:RetainedEarningsAccumulatedLosses2023-03-3107525827core:LandBuildings2024-03-3107525827core:PlantMachinery2024-03-3107525827core:Vehicles2024-03-3107525827core:FurnitureFittings2024-03-3107525827core:OfficeEquipment2024-03-3107525827core:NetGoodwill2024-03-3107525827core:IntangibleAssetsOtherThanGoodwill2024-03-3107525827core:ListedExchangeTraded2024-03-3107525827core:UnlistedNon-exchangeTraded2024-03-3107525827core:LandBuildings2023-03-3107525827core:PlantMachinery2023-03-3107525827core:Vehicles2023-03-3107525827core:FurnitureFittings2023-03-3107525827core:OfficeEquipment2023-03-3107525827core:NetGoodwill2023-03-3107525827core:IntangibleAssetsOtherThanGoodwill2023-03-3107525827core:ListedExchangeTraded2023-03-3107525827core:UnlistedNon-exchangeTraded2023-03-3107525827core:LandBuildings2023-04-012024-03-3107525827core:PlantMachinery2023-04-012024-03-3107525827core:Vehicles2023-04-012024-03-3107525827core:FurnitureFittings2023-04-012024-03-3107525827core:OfficeEquipment2023-04-012024-03-3107525827core:NetGoodwill2023-04-012024-03-3107525827core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107525827core:ListedExchangeTraded2023-04-012024-03-3107525827core:UnlistedNon-exchangeTraded2023-04-012024-03-3107525827core:MoreThanFiveYears2023-04-012024-03-3107525827core:Non-currentFinancialInstruments2024-03-3107525827core:Non-currentFinancialInstruments2023-03-3107525827dpl:CostSales2023-04-012024-03-3107525827dpl:DistributionCosts2023-04-012024-03-3107525827core:LandBuildings2023-04-012024-03-3107525827core:PlantMachinery2023-04-012024-03-3107525827core:Vehicles2023-04-012024-03-3107525827core:FurnitureFittings2023-04-012024-03-3107525827core:OfficeEquipment2023-04-012024-03-3107525827dpl:AdministrativeExpenses2023-04-012024-03-3107525827core:NetGoodwill2023-04-012024-03-3107525827core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107525827dpl:GroupUndertakings2023-04-012024-03-3107525827dpl:ParticipatingInterests2023-04-012024-03-3107525827dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3107525827core:ListedExchangeTraded2023-04-012024-03-3107525827dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3107525827core:UnlistedNon-exchangeTraded2023-04-012024-03-3107525827dpl:CostSales2022-04-012023-03-3107525827dpl:DistributionCosts2022-04-012023-03-3107525827core:LandBuildings2022-04-012023-03-3107525827core:PlantMachinery2022-04-012023-03-3107525827core:Vehicles2022-04-012023-03-3107525827core:FurnitureFittings2022-04-012023-03-3107525827core:OfficeEquipment2022-04-012023-03-3107525827dpl:AdministrativeExpenses2022-04-012023-03-3107525827core:NetGoodwill2022-04-012023-03-3107525827core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3107525827dpl:GroupUndertakings2022-04-012023-03-3107525827dpl:ParticipatingInterests2022-04-012023-03-3107525827dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3107525827core:ListedExchangeTraded2022-04-012023-03-3107525827dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3107525827core:UnlistedNon-exchangeTraded2022-04-012023-03-3107525827core:NetGoodwill2024-03-3107525827core:IntangibleAssetsOtherThanGoodwill2024-03-3107525827core:LandBuildings2024-03-3107525827core:PlantMachinery2024-03-3107525827core:Vehicles2024-03-3107525827core:FurnitureFittings2024-03-3107525827core:OfficeEquipment2024-03-3107525827core:AfterOneYear2024-03-3107525827core:WithinOneYear2024-03-3107525827core:ListedExchangeTraded2024-03-3107525827core:UnlistedNon-exchangeTraded2024-03-3107525827core:ShareCapital2024-03-3107525827core:SharePremium2024-03-3107525827core:RevaluationReserve2024-03-3107525827core:OtherReservesSubtotal2024-03-3107525827core:RetainedEarningsAccumulatedLosses2024-03-3107525827core:NetGoodwill2023-03-3107525827core:IntangibleAssetsOtherThanGoodwill2023-03-3107525827core:LandBuildings2023-03-3107525827core:PlantMachinery2023-03-3107525827core:Vehicles2023-03-3107525827core:FurnitureFittings2023-03-3107525827core:OfficeEquipment2023-03-3107525827core:AfterOneYear2023-03-3107525827core:WithinOneYear2023-03-3107525827core:ListedExch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Cross Retail Limited

Registered Number
07525827
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Cross Retail Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Shilpeshkumar Patel
Swapnkumar Mukeshbhai Patel
Urvashi Shah

Registered Address

231 Kenton Road
Harrow
HA3 0HD

Registered Number

07525827 (England and Wales)
Cross Retail Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets4523,750598,750
Tangible assets5195,630208,341
719,380807,091
Current assets
Stocks682,891136,391
Debtors7,8915,854832,029
Cash at bank and on hand234,032131,475
1,232,7771,099,895
Creditors amounts falling due within one year9(627,104)(569,821)
Net current assets (liabilities)605,673530,074
Total assets less current liabilities1,325,0531,337,165
Creditors amounts falling due after one year10(375,488)(297,618)
Provisions for liabilities11(2,354)(3,144)
Net assets947,2111,036,403
Capital and reserves
Called up share capital22
Share premium917,3931,031,234
Profit and loss account29,8165,167
Shareholders' funds947,2111,036,403
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
Shilpeshkumar Patel
Director
Swapnkumar Mukeshbhai Patel
Director
Urvashi Shah
Director

Registered Company No. 07525827
Cross Retail Limited
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 England and Wales. 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.
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 from the rendering of services.
Interest income
Interest income is recognised using the effective interest rate on simple average method.
Employee 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.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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.
Intangible assets
Intangible is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed to be at most Twenty years.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Leasehold assets depreciated at 2% on cost.

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-33
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year1214
3.Prior period adjustment
We received several light and heat invoices this year, resulting in a £625 adjustment to retained earnings.
4.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 231,500,0001,500,000
At 31 March 241,500,0001,500,000
Amortisation and impairment
At 01 April 23901,250901,250
Charge for year75,00075,000
At 31 March 24976,250976,250
Net book value
At 31 March 24523,750523,750
At 31 March 23598,750598,750
5.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 23205,73927,35116,261249,351
At 31 March 24205,73927,35116,261249,351
Depreciation and impairment
At 01 April 2315,00022,6213,38941,010
Charge for year7,5001,1844,02712,711
At 31 March 2422,50023,8057,41653,721
Net book value
At 31 March 24183,2393,5468,845195,630
At 31 March 23190,7394,73012,872208,341
6.Stocks

2024

2023

££
Finished goods82,891136,391
Total82,891136,391
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables81,48236,096
Amounts owed by associates and joint ventures / participating interests153,58891,508
Other debtors5,6134,921
Prepayments and accrued income25,24726,909
Total265,930159,434
8.Debtors: amounts due after one year

2024

2023

££
Other debtors649,924672,596
Total649,924672,596
9.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables492,530376,626
Taxation and social security71,62056,708
Other creditors62,954134,398
Accrued liabilities and deferred income-2,089
Total627,104569,821
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.
10.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts375,488297,618
Total375,488297,618
11.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,3543,144
Total2,3543,144
12.Parent-subsidiary relationships
Ultimate Parent Undertaking and Controlling Party The company's immediate and ultimate parent is SNS Absolute Care Limited. SNS Absolute Care Limited was incorporated in England. The ultimate controlling party is SNS Absolute Care Limited which controls 100% of the shares of Cross Retail Ltd. Copies of the their accounts may be obtained from the secretary.