Company registration number 05206041 (England and Wales)
CROSSCO (820) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
CROSSCO (820) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CROSSCO (820) LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
33,834
72,794
Investments
4
3,154,886
3,154,886
3,188,720
3,227,680
Current assets
Cash at bank and in hand
3,916
924
Creditors: amounts falling due within one year
5
(4,886)
(4,886)
Net current liabilities
(970)
(3,962)
Total assets less current liabilities
3,187,750
3,223,718
Creditors: amounts falling due after more than one year
6
(1,669,075)
(1,663,994)
Net assets
1,518,675
1,559,724
Capital and reserves
Called up share capital
4,700
4,700
Share premium account
1,303,163
1,303,163
Capital redemption reserve
5,744
5,744
Profit and loss reserves
205,068
246,117
Total equity
1,518,675
1,559,724

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CROSSCO (820) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 November 2024 and are signed on its behalf by:
C. Lister
Director
Company registration number 05206041 (England and Wales)
CROSSCO (820) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Crossco (820) Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Envirotec Limited, Desborough Park Road, High Wycombe, Buckinghamshire, HP12 3BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for management services provided net of VAT.

1.3
Intangible fixed assets - goodwill

Goodwill, which represents the excess of cost of acquisitions of businesses over the value attributed to their net assets, is amortised through the profit and loss account by equal annual instalments over its estimated useful economic life. The value of goodwill is reviewed annually for any impairment and provision made against any permanent diminution in value.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CROSSCO (820) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
779,194
Amortisation and impairment
At 1 March 2023
706,400
Amortisation charged for the year
38,960
At 29 February 2024
745,360
Carrying amount
At 29 February 2024
33,834
At 28 February 2023
72,794
CROSSCO (820) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,154,886
3,154,886
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
4,886
4,886
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
1,669,075
1,663,994
7
Financial commitments, guarantees and contingent liabilities

The company, together with Envirotec Limited, is a member of a VAT Group under which both members are jointly and severally liable.

The company is party to cross guarantees given by group companies to Natwest Bank Plc. The Bank also holds a debenture fixed over the assets of the company and the other companies within the Group.

8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Included in creditors: amounts falling due within one year is an amount of £4,886 (2023: £4,886) owing to Gransim Properties Limited, a subsidiary company.

 

Included in creditors: amounts falling due after more than one year is an amount of £1,669,075 (2023: £1,663,994) owing to Envirotec Limited, a subsidiary company.

 

 

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