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REGISTERED NUMBER: 04467090 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

CROSSOAKS PROPERTIES LIMITED

CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CROSSOAKS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: S Bone





REGISTERED OFFICE: Clements Farm
Brickendon Lane
Brickendon
Hertford
Hertfordshire
SG13 8NS





REGISTERED NUMBER: 04467090 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment property 4 1,150,000 1,150,000

CURRENT ASSETS
Debtors 5 1,480 1,479
Cash at bank 88,077 74,038
89,557 75,517
CREDITORS
Amounts falling due within one year 6 294,409 8,003
NET CURRENT (LIABILITIES)/ASSETS (204,852 ) 67,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

945,148

1,217,514

CREDITORS
Amounts falling due after more than one
year

7

-

(288,733

)

PROVISIONS FOR LIABILITIES (141,396 ) (141,396 )
NET ASSETS 803,752 787,385

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 424,187 424,187
Retained earnings 11 379,465 363,098
SHAREHOLDERS' FUNDS 803,752 787,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

BALANCE SHEET - continued
30 JUNE 2024


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 18 March 2025 and were signed by:





S Bone - Director


CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Crossoaks Properties 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.

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 as modified by the revaluation of certain assets.

TURNOVER
The company's turnover represents the value of rents receivable and completed trading property sales during the year, excluding value added tax. Turnover is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable for services provided in the normal course of business, net of discounts and value added tax.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with standard accounting practice, investment properties are revalued annually and the aggregate surplus or deficit is recognised in the income statement. Although standard accounting practice does not require the use of a revaluation reserve, the directors believe that the use of such a reserve is necessary for a proper understanding of the company's financial position. Accordingly the investment property revaluation for the year is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of investment properties.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.

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.


CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

DEBTORS RECEIVABLE AND CREDITORS PAYABLE
Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,150,000
NET BOOK VALUE
At 30 June 2024 1,150,000
At 30 June 2023 1,150,000

The balance sheet figure comprises cost of £584,417 (2022 - £584,417) and accumulated surpluses on revaluation of £565,583 (2022 - £565,583).

In the Director's opinion, the carrying value of the company's investment properties as at 30 June 2023 is not significantly different from the open market fair values of those properties as at the date of signing these financial statements.

If the properties were sold for this figure, a corporation tax liability of £141,396 (2022 - £107,050) would arise.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 1,480 1,479

CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 8) 288,394 -
Trade creditors 204 -
Taxation and social security 4,426 6,750
Other creditors 1,385 1,253
294,409 8,003

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans (see note 8) - 288,733

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 288,733

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 288,394 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 288,733

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 288,394 288,733

The bank borrowings were secured by legal mortgages over the company's properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1 100 100

CROSSOAKS PROPERTIES LIMITED (REGISTERED NUMBER: 04467090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


11. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 July 2023 363,098 424,187 787,285
Profit for the year 18,867 18,867
Dividends (2,500 ) (2,500 )
At 30 June 2024 379,465 424,187 803,652

Although the company is not legally required to maintain a revaluation reserve, in the opinion of the directors, it is in the company's best interest to do so.