Acorah Software Products - Accounts Production 16.1.300 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 08180207 Mr Nicholas Kittoe Mr Antony Cross Mr Roger Cooke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08180207 2023-09-30 08180207 2024-09-30 08180207 2023-10-01 2024-09-30 08180207 frs-core:CurrentFinancialInstruments 2024-09-30 08180207 frs-core:Non-currentFinancialInstruments 2024-09-30 08180207 frs-core:ComputerEquipment 2024-09-30 08180207 frs-core:ComputerEquipment 2023-10-01 2024-09-30 08180207 frs-core:ComputerEquipment 2023-09-30 08180207 frs-core:NetGoodwill 2024-09-30 08180207 frs-core:NetGoodwill 2023-10-01 2024-09-30 08180207 frs-core:NetGoodwill 2023-09-30 08180207 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-09-30 08180207 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08180207 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-30 08180207 frs-core:MotorVehicles 2024-09-30 08180207 frs-core:MotorVehicles 2023-10-01 2024-09-30 08180207 frs-core:MotorVehicles 2023-09-30 08180207 frs-core:PlantMachinery 2024-09-30 08180207 frs-core:PlantMachinery 2023-10-01 2024-09-30 08180207 frs-core:PlantMachinery 2023-09-30 08180207 frs-core:CapitalRedemptionReserve 2024-09-30 08180207 frs-core:SharePremium 2024-09-30 08180207 frs-core:ShareCapital 2024-09-30 08180207 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 08180207 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08180207 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 08180207 frs-bus:SmallEntities 2023-10-01 2024-09-30 08180207 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08180207 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08180207 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-01 2024-09-30 08180207 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 08180207 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-09-30 08180207 frs-core:CostValuation 2023-09-30 08180207 frs-core:DisposalsRepaymentsInvestments 2024-09-30 08180207 frs-core:RevaluationsIncreaseDecreaseInInvestments 2024-09-30 08180207 frs-core:CostValuation 2024-09-30 08180207 frs-core:ProvisionsForImpairmentInvestments 2023-09-30 08180207 frs-core:ProvisionsForImpairmentInvestments 2024-09-30 08180207 frs-bus:Director1 2023-10-01 2024-09-30 08180207 frs-bus:Director2 2023-10-01 2024-09-30 08180207 frs-bus:Director3 2023-10-01 2024-09-30 08180207 frs-core:CurrentFinancialInstruments 1 2024-09-30 08180207 frs-countries:EnglandWales 2023-10-01 2024-09-30 08180207 2022-09-30 08180207 2023-09-30 08180207 2022-10-01 2023-09-30 08180207 frs-core:CurrentFinancialInstruments 2023-09-30 08180207 frs-core:Non-currentFinancialInstruments 2023-09-30 08180207 frs-core:CapitalRedemptionReserve 2023-09-30 08180207 frs-core:SharePremium 2023-09-30 08180207 frs-core:ShareCapital 2023-09-30 08180207 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 08180207 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 08180207 frs-core:CurrentFinancialInstruments 1 2023-09-30
Registered number: 08180207
Crosskit Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
MoynanSmith
Chartered Accountants & Tax Advisers
Unit 4 Clifford Court
Cooper Way
Carlisle
Cumbria
CA3 0JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08180207
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,216 7,477
Tangible Assets 5 67,964 12,232
Investments 6 9,885,532 5,157,851
9,959,712 5,177,560
CURRENT ASSETS
Stocks 7 250 250
Debtors 8 712,138 557,118
Cash at bank and in hand 222,362 260,028
934,750 817,396
Creditors: Amounts Falling Due Within One Year 9 (168,358 ) (134,846 )
NET CURRENT ASSETS (LIABILITIES) 766,392 682,550
TOTAL ASSETS LESS CURRENT LIABILITIES 10,726,104 5,860,110
Creditors: Amounts Falling Due After More Than One Year 10 (240,570 ) (237,448 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (2,559 ) (2,071 )
NET ASSETS 10,482,975 5,620,591
CAPITAL AND RESERVES
Called up share capital 12 106 106
Share premium account 131,228 131,228
Capital redemption reserve 198,722 198,722
Fair value reserve 13 7,835,550 3,107,860
Profit and Loss Account 2,317,369 2,182,675
SHAREHOLDERS' FUNDS 10,482,975 5,620,591
Page 1
Page 2
For the year ending 30 September 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 Antony Cross
Director
29 January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Crosskit Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08180207 . The registered office is Unit 4 Clifford Court, Cooper Way, Carlisle, Cumbria, CA3 0JG.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Freehold 50 years straight line on buildings
Plant & Machinery 15% reducing balance basis
Motor Vehicles 25% reducing balance basis
Computer Equipment 3 year straight line
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
2.7. Comparatives
The directors have considered the disclosure of certain items during the year and decided that it is appropriate to amend the comparatives where necessary. There has been no impact on profit as amendments have affected disclosures only.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 12,606
As at 30 September 2024 12,606
Amortisation
As at 1 October 2023 5,129
Provided during the period 1,261
As at 30 September 2024 6,390
Net Book Value
As at 30 September 2024 6,216
As at 1 October 2023 7,477
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 1,333 12,053 - 7,604 20,990
Additions 53,162 - 5,200 - 58,362
As at 30 September 2024 54,495 12,053 5,200 7,604 79,352
Depreciation
As at 1 October 2023 - 3,081 - 5,677 8,758
Provided during the period - 1,295 693 642 2,630
As at 30 September 2024 - 4,376 693 6,319 11,388
Net Book Value
As at 30 September 2024 54,495 7,677 4,507 1,285 67,964
As at 1 October 2023 1,333 8,972 - 1,927 12,232
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Page 5
6. Investments
Other
£
Cost
As at 1 October 2023 5,157,851
Disposals (155,709 )
Revaluations 4,883,390
As at 30 September 2024 9,885,532
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 9,885,532
As at 1 October 2023 5,157,851
The value of other investments is an investment in Grain Connect Topco Limited (a company registered in England and Wales number 13609252) . The investment has been accounted for under the fair value model under FRS102 with any increase recognised in other comprehensive income. 
In this financial year a percentage of the shares held were sold. This realisation value has been used to revalue the shares in this period. The directors therefore consider this value to be reasonable at the balance sheet date.
7. Stocks
2024 2023
£ £
Stock 250 250
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,431 24,155
Other debtors 688,492 530,270
Corporation tax recoverable assets 1,961 -
VAT 1,561 -
Other taxes and social security 2,693 2,693
712,138 557,118
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 827 -
Bank loans and overdrafts 10,000 10,000
Corporate taxes - 6,031
VAT - 1,572
Other creditors 331 662
Redeemable preference shares 41,500 41,500
Accruals and deferred income 15,387 10,147
Directors' loan accounts 100,313 64,934
168,358 134,846
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,180 20,828
Provisions 230,390 216,620
240,570 237,448
The provision is for interest provided on debt instruments that has not been paid, or treated as paid.
The amounts would need to be agreed by the board prior to any payment. There are no plans for this to happen currently.
11. Deferred Taxation
The deferred tax provision is due to accelerated capital allowances.
2024 2023
£ £
Other timing differences 2,559 2,071
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 106 106
13. Reserves
Fair Value Reserve
£
As at 1 October 2023 3,107,860
Transfer to profit and loss 4,727,690
As at 30 September 2024 7,835,550
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