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Registration number: 10021784

5 Crossways Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

5 Crossways Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 6

 

5 Crossways Limited

Company Information

Directors

Mrs J Worthington

A Worthington

Registered office

71 Rectory Park
South Croydon
Surrey
CR2 9JR

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
5 Crossways Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 5 Crossways Limited for the year ended 29 February 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of 5 Crossways Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of 5 Crossways Limited and state those matters that we have agreed to state to the Board of Directors of 5 Crossways Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 5 Crossways Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that 5 Crossways Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 5 Crossways Limited. You consider that 5 Crossways Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of 5 Crossways Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

16 October 2024

 

5 Crossways Limited

(Registration number: 10021784)
Statement of Financial Position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

381,127

385,214

Current assets

 

Cash at bank and in hand

 

299

7,700

Creditors: Amounts falling due within one year

6

(329,743)

(361,639)

Net current liabilities

 

(329,444)

(353,939)

Net assets

 

51,683

31,275

Capital and reserves

 

Called up share capital

2

2

Retained earnings

51,681

31,273

Shareholders' funds

 

51,683

31,275

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 

A Worthington
Director

   
     
 

5 Crossways Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71 Rectory Park
South Croydon
Surrey
CR2 9JR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

 

5 Crossways Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

1% on cost

Assets held under finance leases are depreciated in the same way as owned assets.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

5 Crossways Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,087

4,087

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 March 2023

408,650

408,650

At 29 February 2024

408,650

408,650

Depreciation

At 1 March 2023

23,436

23,436

Charge for the year

4,087

4,087

At 29 February 2024

27,523

27,523

Carrying amount

At 29 February 2024

381,127

381,127

At 28 February 2023

385,214

385,214

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,681

6,307

Accruals and deferred income

1,020

990

Other creditors

322,042

354,342

329,743

361,639