REGISTERED NUMBER: |
Cross And Co. Properties Ltd |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
REGISTERED NUMBER: |
Cross And Co. Properties Ltd |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
Cross And Co. Properties Ltd (Registered number: 12412576) |
Contents of the Financial Statements |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Cross And Co. Properties Ltd |
Company Information |
for the year ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Irish Square |
Upper Denbigh Road |
St Asaph |
Denbighshire |
LL17 0RN |
Cross And Co. Properties Ltd (Registered number: 12412576) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
Cross And Co. Properties Ltd (Registered number: 12412576) |
Notes to the Financial Statements |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Cross And Co. Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant & Machinery etc - 20% on red. balance |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Cross And Co. Properties Ltd (Registered number: 12412576) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
Additions |
Revaluations | 408,654 |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2023 | 2,054,000 |
Valuation in 2024 | 456,000 |
2,510,000 |
During the year, the amount in properties was revalued based on independent valuations provided by Kent Reliance. The revaluation resulted in an increase of the carrying amount of the properties, which has been reflected in the financial statements. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to participating interests | - | 34,752 |
Taxation and social security |
Other creditors |
Cross And Co. Properties Ltd (Registered number: 12412576) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,575,255 | 1,466,909 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Included within creditors are general charges in favour of One Savings Bank PLC/Kent Reliance secured on the properties at: Wats Dyke Avenue, Holywell, Kingsley Avenue, Rhyl, Abbey Drive, Prestatyn, Kinseys Lane, Chester, Gamlin Street, Rhyl, and Ddol Hyfryd, Prestatyn, |
Together Commercial Finance Ltd secured on the properties at: |
Purbeck Avenue, Prestatyn, Pen Tywyn, Prestatyn, Carneddi, Bangor and Beverly Drive, Prestatyn |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party are the directors on the basis that together they own all of the issued share capital in its entirety. |