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Registered number: 01262878
Cross Roads Service Station (Cheswick Green) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Cross Roads Service Station (Cheswick Green) Limited for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cross Roads Service Station (Cheswick Green) Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Cross Roads Service Station (Cheswick Green) Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Cross Roads Service Station (Cheswick Green) Limited and state those matters that we have agreed to state to the directors of Cross Roads Service Station (Cheswick Green) Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cross Roads Service Station (Cheswick Green) Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Cross Roads Service Station (Cheswick Green) 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 or loss of Cross Roads Service Station (Cheswick Green) Limited . You consider that Cross Roads Service Station (Cheswick Green) 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 Cross Roads Service Station (Cheswick Green) 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 financial statements.
Signed
28 October 2024
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
Page 1
Page 2
Statement of Financial Position
Registered number: 01262878
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 49,105 50,985
49,105 50,985
CURRENT ASSETS
Stocks 5 5,320 7,718
Debtors 6 20,642 30,360
Cash at bank and in hand 215,908 151,946
241,870 190,024
Creditors: Amounts Falling Due Within One Year 7 (205,031 ) (152,377 )
NET CURRENT ASSETS (LIABILITIES) 36,839 37,647
TOTAL ASSETS LESS CURRENT LIABILITIES 85,944 88,632
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,924 ) (9,352 )
NET ASSETS 74,020 79,280
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Income Statement 73,020 78,280
SHAREHOLDERS' FUNDS 74,020 79,280
Page 2
Page 3
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
The financial statements were approved by the board of directors on 28 October 2024 and were signed on its behalf by:
Mr P M Wright
Director
Mr S D Wright
Director
Mrs J Wright
Director
28 October 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Cross Roads Service Station (Cheswick Green) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01262878 . The company's registered number and registered office address can be found on the
Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance and 20% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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.
Deferred tax is recognised on 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 12)
10 12
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 164,469 65,464 17,554 7,119 254,606
Additions 8,499 - - 457 8,956
As at 31 March 2024 172,968 65,464 17,554 7,576 263,562
Depreciation
As at 1 April 2023 120,956 63,222 14,386 5,057 203,621
Provided during the period 9,268 560 452 556 10,836
As at 31 March 2024 130,224 63,782 14,838 5,613 214,457
Net Book Value
As at 31 March 2024 42,744 1,682 2,716 1,963 49,105
As at 1 April 2023 43,513 2,242 3,168 2,062 50,985
5. Stocks
2024 2023
£ £
Materials 5,320 7,718
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,943 15,956
Other debtors 12,699 14,404
20,642 30,360
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 54,358 59,032
Amounts owed to participating interests 65,155 63,855
Other creditors 29,862 5,842
Taxation and social security 55,656 23,648
205,031 152,377
Page 5
Page 6
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 9,352 9,352
Deferred taxation 2,572 2,572
Balance at 31 March 2024 11,924 11,924
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1 each 1,000 1,000
10. Related Party Transactions
The company has loaned money from its parent company totalling £65,155 (2023 - £63,855) which is unsecured, interest free, and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is Cross Roads Service Station Limited by virtue of his ownership of 100% of the issued share capital in the company.
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