REGISTERED NUMBER: 07796194 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2024

for

Crosshatch Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Madsen

REGISTERED OFFICE:

Lester Aldridge Oxford Road

Bournemouth

England

BH8 8EX

REGISTERED NUMBER:

07796194 (England and Wales)

SENIOR STATUTORY AUDITOR:

Moganarden Chelvanaigum FCCA

AUDITORS:

SKS Audit LLP

3 Sheen Road

Richmond Upon Thames

TW9 1AD

FIXED ASSETS

Investments

5

608,068

608,068

CURRENT ASSETS

Cash at bank and in hand

6

1

89

CREDITORS

Amounts falling due within one year

7

(5,425

)

(3,705

)

NET CURRENT LIABILITIES

(5,424

)

(3,616

)

TOTAL ASSETS LESS CURRENT LIABILITIES

602,644

604,452

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

602,544

604,352

SHAREHOLDERS' FUNDS

602,644

604,452

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:

M Madsen - Director

1.	STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England within the United Kingdom.

The address of its registered office is:

Lester Aldridge Oxford Road,

Bournemouth,

England,

BH8 8EX

The significant accounting policies applied in the preparation of the financial statements are set below. These policies have been consistently applied to all years unless stated otherwise.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Crosshatch Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

FOREIGN CURRENCY TRANSACTION & BALANCES

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslatedinto the respective functional currency of the entity at the rates prevailing on the reporting period date.

Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

DIVIDEND INCOME

Dividend are recognised once the dividend has been declared and notification has been received of the dividends due. This is normally upon notification by our investment advisor of the dividend of the portfolio.

INVESTMENTS

Investments in subsidiary undertakings are recognised at cost less accumulated impairment losses.The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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.

TRADE DEBTORS

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. lf there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates of accrual, as included in the financial statements and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4.	EMPLOYEES AND DIRECTORS

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

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2024

and 31 December 2024

608,068

NET BOOK VALUE

At 31 December 2024

608,068

At 31 December 2023

608,068

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Ocean Yacht Systems Limited

Registered office: Lester Aldridge, Oxford Road, Bournemouth, England, BH8 8EX

Nature of business: Engineering services to marine industries

%

Class of shares:

holding

Ordinary Shares

100.00

31.12.2024

31.12.2023

£

£

Aggregate capital and reserves

609,429

623,287

Profit/(Loss) for the year

16,142

15,219

6.	CASH AT BANK AND IN HAND

2024

2023

£

£

Bank account

-

88

Cash in hand

1

1

1

89

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

4,225

2,625

Accrued expenses

1,200

1,080

5,425

3,705

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Share capital 1

1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Moganarden Chelvanaigum FCCA (Senior Statutory Auditor)

for and on behalf of SKS Audit LLP

10.	RELATED PARTY DISCLOSURES

During the year, the company had the following related party transactions;

Ocean Yacht Systems Limited

At the year end, the company owed the subsidiary company, Ocean Yacht Systems Limited £4,225 (2023: £2,625).

11.

CONTROL

The company is controlled by its parent company, BSI A/S, an entity incorporated in Denmark.