Registration number:
Crosstown Investments Limited
for the Year Ended 30 June 2024
Crosstown Investments Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Crosstown Investments Limited
Company Information
Director |
Ms J M Cross |
Registered office |
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Accountants |
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Crosstown Investments Limited
(Registration number: 11456845)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(8,072) |
(79) |
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Shareholders' (deficit)/funds |
(7,972) |
21 |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Crosstown Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.
Going concern
The company had a net balance sheet deficit of £7,972 (2023: surplus £21) at the balance sheet date and is dependent on the continued support of its director.
The director has given her assurance that she will provide sufficient further finance as may prove necessary to meet the company's working capital requirements for the foreseeable future.
Revenue recognition
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Crosstown Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
2 |
Accounting policies (continued) |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Stocks |
2024 |
2023 |
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Work in progress |
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Debtors |
2024 |
2023 |
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Amounts owed by related undertakings |
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Other debtors |
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Crosstown Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and other borrowings |
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Trade creditors |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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- |
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Loans and borrowings |
2024 |
2023 |
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Current loans and other borrowings |
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Loans and other borrowings |
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Related party transactions |
Transactions with the director |
2024 |
At 1 July 2023 |
Repayments by director |
At 30 June 2024 |
Ms J M Cross |
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Loan -interest 2%, unsecured and repayable on demand |
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( |
- |
2023 |
At 1 July 2022 |
Advances to director |
Repayments by director |
At 30 June 2023 |
Ms J M Cross |
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Loan -interest 2%, unsecured and repayable on demand |
- |
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( |
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Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from The Old Exchange, 521 Wimborne Road East, Ferndown Dorset BH22 9NH