REGISTERED NUMBER: 12120046 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

NICK CROSS DESIGN LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Cross

Mrs V Cross

REGISTERED OFFICE:

Bryntirion

Deptford Lane

Greywell

Hampshire

RG29 1BS

REGISTERED NUMBER:

12120046 (England and Wales)

ACCOUNTANTS:

Cook & Partners Limited

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

4

11,249

12,205

CURRENT ASSETS

Stocks

99,481

77,481

Debtors

5

2,178

849

Cash at bank

8,747

174

110,406

78,504

CREDITORS

Amounts falling due within one year

6

104,570

67,046

NET CURRENT ASSETS

5,836

11,458

TOTAL ASSETS LESS CURRENT LIABILITIES

17,085

23,663

CREDITORS

Amounts falling due after more than one year

7

16,740

22,586

NET ASSETS

345

1,077

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

245

977

SHAREHOLDERS' FUNDS

345

1,077

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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st March 2025 and were signed on its behalf by:

N J Cross - Director

1.	STATUTORY INFORMATION

Nick Cross Design Ltd 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.

Going Concern Justification

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st July 2024 have been prepared using the going concern basis of accounting.

Turnover

Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed

Where services have been partially completed but not invoiced, work in progress is provided at the balance sheet date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st August 2023

6,918

549

14,598

22,065

Additions

-

407

3,036

3,443

At 31st July 2024

6,918

956

17,634

25,508

DEPRECIATION

At 1st August 2023

2,767

549

6,544

9,860

Charge for year

692

41

3,666

4,399

At 31st July 2024

3,459

590

10,210

14,259

NET BOOK VALUE

At 31st July 2024

3,459

366

7,424

11,249

At 31st July 2023

4,151

-

8,054

12,205

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,079

750

Other debtors

99

99

2,178

849

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

4,323

1,008

Tax

83,388

40,929

Social security and other taxes

518

69

VAT

16,314

23,891

Directors' current accounts

26

1,148

Accrued expenses

1

1

104,570

67,046

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

8,976

4,284

Bank loans - 2-5 years

7,764

13,514

Bank loans more 5 yr by instal

-

4,788

16,740

22,586

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

4,788

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023:

2024

2023

£

£

N J Cross

Balance outstanding at start of year

-

25,959

Amounts repaid

-

(25,959

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-