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REGISTERED NUMBER: 12412576 (England and Wales)










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: Mr L Cross
Mrs N Cross





REGISTERED OFFICE: Nant Gwilym
Maes Y Gog
Rhyl
LL18 4QA





REGISTERED NUMBER: 12412576 (England and Wales)





ACCOUNTANTS: Salisbury & Company
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 1,949 710
Investment property 5 2,510,000 2,054,000
2,511,949 2,054,710

CURRENT ASSETS
Debtors 6 11,312 9,768
Cash at bank 10,086 34,003
21,398 43,771
CREDITORS
Amounts falling due within one year 7 199,742 282,666
NET CURRENT LIABILITIES (178,344 ) (238,895 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,333,605

1,815,815

CREDITORS
Amounts falling due after more than one
year

8

1,575,255

1,466,909
NET ASSETS 758,350 348,906

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 758,348 348,904
SHAREHOLDERS' FUNDS 758,350 348,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Mr L Cross - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

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 2 (2023 - 2 ) .

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 887
Additions 1,655
At 31 January 2024 2,542
DEPRECIATION
At 1 February 2023 177
Charge for year 416
At 31 January 2024 593
NET BOOK VALUE
At 31 January 2024 1,949
At 31 January 2023 710

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 2,054,000
Additions 47,346
Revaluations 408,654
At 31 January 2024 2,510,000
NET BOOK VALUE
At 31 January 2024 2,510,000
At 31 January 2023 2,054,000

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 11,312 9,768

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 630
Amounts owed to participating interests - 34,752
Taxation and social security - 254
Other creditors 199,742 247,030
199,742 282,666

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 1,575,255 1,466,909

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 1,575,255 1,466,909

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.