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REGISTERED NUMBER: 07909759 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Crossjoint Developments Limited

Crossjoint Developments Limited (Registered number: 07909759)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Crossjoint Developments Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: D G Graham





REGISTERED OFFICE: Lane End Tower Freeman Road Off Station
North Hykeham
Lincoln
Lincolnshire
LN6 9AP





REGISTERED NUMBER: 07909759 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Crossjoint Developments Limited (Registered number: 07909759)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 308,767 327,006
308,767 327,006

CURRENT ASSETS
Stocks 6,000 2,500
Debtors 6 556,057 329,557
Cash at bank 50 72,215
562,107 404,272
CREDITORS
Amounts falling due within one year 7 412,976 300,210
NET CURRENT ASSETS 149,131 104,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,898

431,068

CREDITORS
Amounts falling due after more than one
year

8

(221,727

)

(259,417

)

PROVISIONS FOR LIABILITIES (9,218 ) (7,383 )
NET ASSETS 226,953 164,268

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 226,753 164,068
SHAREHOLDERS' FUNDS 226,953 164,268

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

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

The director acknowledges his 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 director and authorised for issue on 30 January 2025 and were signed by:



D G Graham - Director


Crossjoint Developments Limited (Registered number: 07909759)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Crossjoint Developments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance and 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


Crossjoint Developments Limited (Registered number: 07909759)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 500
AMORTISATION
At 1 August 2023
and 31 July 2024 500
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Crossjoint Developments Limited (Registered number: 07909759)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
Buildings machinery fittings
£    £    £   
COST
At 1 August 2023 173,718 17,200 44,719
Additions - - 14,102
At 31 July 2024 173,718 17,200 58,821
DEPRECIATION
At 1 August 2023 - 14,719 18,053
Charge for year - 372 6,115
At 31 July 2024 - 15,091 24,168
NET BOOK VALUE
At 31 July 2024 173,718 2,109 34,653
At 31 July 2023 173,718 2,481 26,666

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 249,812 3,764 489,213
Additions 34,971 - 49,073
At 31 July 2024 284,783 3,764 538,286
DEPRECIATION
At 1 August 2023 126,853 2,582 162,207
Charge for year 60,429 396 67,312
At 31 July 2024 187,282 2,978 229,519
NET BOOK VALUE
At 31 July 2024 97,501 786 308,767
At 31 July 2023 122,959 1,182 327,006

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023 249,812
Additions 34,971
At 31 July 2024 284,783
DEPRECIATION
At 1 August 2023 126,853
Charge for year 60,429
At 31 July 2024 187,282
NET BOOK VALUE
At 31 July 2024 97,501
At 31 July 2023 122,959

Crossjoint Developments Limited (Registered number: 07909759)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 428,359 209,001
Amounts recoverable on contracts 67,361 95,510
Other debtors 60,337 25,046
556,057 329,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 65,976 28,245
Finance leases 41,615 35,556
Trade creditors 172,328 92,269
Taxation and social security 93,378 79,601
Other creditors 39,679 64,539
412,976 300,210

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 114,457 140,838
Finance leases 107,270 118,579
221,727 259,417

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,292 4,955

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 145,203 169,083
Finance leases 149,321 154,135
294,524 323,218

Hire purchases and finance leases are secured on the assets to which they relate.

Bank loans are secured by a debenture and legal charge over the company's freehold property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200

11. ULTIMATE CONTROLLING PARTY

The controlling party is D G Graham.