Crossbar Limited 04577611 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the provision of trade finance related services. Digita Accounts Production Advanced 6.30.9574.0 true true 04577611 2023-04-01 2024-03-31 04577611 2024-03-31 04577611 core:RetainedEarningsAccumulatedLosses 2024-03-31 04577611 core:ShareCapital 2024-03-31 04577611 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04577611 core:FurnitureFittingsToolsEquipment 2024-03-31 04577611 bus:SmallEntities 2023-04-01 2024-03-31 04577611 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04577611 bus:FilletedAccounts 2023-04-01 2024-03-31 04577611 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04577611 bus:RegisteredOffice 2023-04-01 2024-03-31 04577611 bus:CompanySecretary1 2023-04-01 2024-03-31 04577611 bus:Director2 2023-04-01 2024-03-31 04577611 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04577611 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04577611 countries:EnglandWales 2023-04-01 2024-03-31 04577611 2023-03-31 04577611 core:FurnitureFittingsToolsEquipment 2023-03-31 04577611 2022-04-01 2023-03-31 04577611 2023-03-31 04577611 core:RetainedEarningsAccumulatedLosses 2023-03-31 04577611 core:ShareCapital 2023-03-31 04577611 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04577611

Crossbar Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Crossbar Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Crossbar Limited

Company Information

Director

R Villiers-Smith

Company secretary

S Villiers-Smith

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Crossbar Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

13,925

12,182

Cash at bank and in hand

 

244,914

303,224

 

258,839

315,406

Creditors: Amounts falling due within one year

6

(186,301)

(278,981)

Net assets

 

72,538

36,425

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

72,438

36,325

Total equity

 

72,538

36,425

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 24 October 2024
 

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

R Villiers-Smith

Director

Company registration number: 04577611

 

Crossbar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of trade finance related services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date of £72,538.

The director has considered the potential effect of the current economic outlook and the director believes that the impact will continue to be manageable. The company continues to operate profitably, and has few fixed overheads. The director is able to control expenditure where required.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover represents finance and interest charges on customers' factored book debts received or receivable on in the ordinary course of the company's activities.

The company recognises turnover from services provided over the contractual period using the effective interest method.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

 

Crossbar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023: 1).

4

Tangible assets

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 April 2023

11,438

11,438

Disposals

(11,438)

(11,438)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

11,438

11,438

Eliminated on disposal

(11,438)

(11,438)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

5

Debtors

2024
£

2023
£

Trade debtors

13,565

11,822

Other debtors

360

360

13,925

12,182

 

Crossbar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

504

-

Taxation and social security

10,318

4,159

Accruals and deferred income

4,871

4,380

Other creditors

170,608

270,442

186,301

278,981