Acorah Software Products - Accounts Production 16.0.110 false true true 10 February 2023 11 February 2022 false 11 February 2023 10 February 2024 10 February 2024 05227441 Mr Eric Ravera Secretary Eric Ravera Eric Rivera true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05227441 2023-02-10 05227441 2024-02-10 05227441 2023-02-11 2024-02-10 05227441 frs-core:CurrentFinancialInstruments 2024-02-10 05227441 frs-core:ShareCapital 2024-02-10 05227441 frs-core:RetainedEarningsAccumulatedLosses 2024-02-10 05227441 frs-bus:PrivateLimitedCompanyLtd 2023-02-11 2024-02-10 05227441 frs-bus:FilletedAccounts 2023-02-11 2024-02-10 05227441 frs-bus:SmallEntities 2023-02-11 2024-02-10 05227441 frs-bus:AuditExempt-NoAccountantsReport 2023-02-11 2024-02-10 05227441 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-11 2024-02-10 05227441 1 2023-02-11 2024-02-10 05227441 frs-bus:Director1 2023-02-11 2024-02-10 05227441 frs-bus:CompanySecretary1 2023-02-11 2024-02-10 05227441 frs-core:CurrentFinancialInstruments 1 2024-02-10 05227441 frs-countries:EnglandWales 2023-02-11 2024-02-10 05227441 2022-02-10 05227441 2023-02-10 05227441 2022-02-11 2023-02-10 05227441 frs-core:CurrentFinancialInstruments 2023-02-10 05227441 frs-core:ShareCapital 2023-02-10 05227441 frs-core:RetainedEarningsAccumulatedLosses 2023-02-10 05227441 frs-core:CurrentFinancialInstruments 1 2023-02-10
Registered number: 05227441
Crossmed Shipping Limited
Unaudited Financial Statements
For The Year Ended 10 February 2024
Maurice J Bushell & Co Ltd.
Chartered Certified Accountants
Office 12
Epsilon House
Ipswich
Suffolk
IP3 9FJ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 05227441
2024 2023
Notes
CURRENT ASSETS
Cash at bank and in hand 90,605 28,546
90,605 28,546
Creditors: Amounts Falling Due Within One Year 5 (96,341 ) (41,738 )
NET CURRENT ASSETS (LIABILITIES) (5,736 ) (13,192 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,736 ) (13,192 )
NET LIABILITIES (5,736 ) (13,192 )
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account (5,738 ) (13,194 )
SHAREHOLDERS' FUNDS (5,736) (13,192)
For the year ending 10 February 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 Profit and Loss Account.
On behalf of the board
Mr Eric Ravera
Director
25 November 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Crossmed Shipping Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05227441 . The registered office is C/O Mjb Avanti, Office 12 Epsilon House, West Road, Ipswich, IP3 9FJ.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Financial Instruments
Financial instruments are classfied and accounted for, according to the substance of the contractural arrangement, as either financial assets, financial liabilities or equity instruments, An entity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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 year 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 asset reflects 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.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 2
1 2
4. Debtors
2024 2023
Due within one year
5. Creditors: Amounts Falling Due Within One Year
2024 2023
Trade creditors - 27,000
Intercompany – Union Marine Limited 11,530 -
Accruals and deferred income 2,297 2,252
Directors' loan accounts 82,514 12,486
96,341 41,738
6. Share Capital
2024 2023
Allotted, Called up and fully paid 2 2
7. Related Party Transactions
Amount due to related parties at the Balance Sheet is as follows - 
  • £11,530 due from Union Marine Shipping Ltd
Both these values are reflected under Intercompany Balances on note 5 under Notes to Financial Statements.
8. Ultimate Controlling Party
The company's ultimate controlling party is Eric Rivera by virtue of his ownership of 100% of the issued share capital in the company.
Page 3