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Registration number: 04492300

TT Cross Heat Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

TT Cross Heat Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

TT Cross Heat Services Limited

Company Information

Director

Mr N T Cross

Company secretary

Mrs S Cross

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

Accountants

Rotherham Taylor Limited
Chartered Accountants
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

TT Cross Heat Services Limited

(Registration number: 04492300)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

1,000

1,500

Debtors

5

17,405

16,897

Cash at bank and in hand

 

12

10

 

18,417

18,407

Creditors: Amounts falling due within one year

6

(14,959)

(16,532)

Total assets less current liabilities

 

3,458

1,875

Creditors: Amounts falling due after more than one year

6

(3,509)

(7,625)

Net liabilities

 

(51)

(5,750)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(151)

(5,850)

Shareholders' deficit

 

(51)

(5,750)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director on 29 April 2025
 

.........................................
Mr N T Cross
Director

   
     
 

TT Cross Heat Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

2

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.

Going concern

The financial statements have been prepared on a going concern basis as the director has confirmed he will continue to support the company in meeting its liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company’s activities.
 

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.

 

TT Cross Heat Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

Stocks

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.

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. If 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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

TT Cross Heat Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Stocks

2024
£

2023
£

Other inventories

1,000

1,500

5

Debtors

Current

2024
£

2023
£

Trade debtors

3,367

2,772

Other debtors

14,038

14,125

 

17,405

16,897

 

TT Cross Heat Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

13,447

13,347

Trade creditors

 

-

1,336

Taxation and social security

 

-

445

Accruals and deferred income

 

1,512

1,404

 

14,959

16,532

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

3,509

7,625

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,509

7,625

2024
£

2023
£

Current loans and borrowings

Bank borrowings

4,116

4,014

Bank overdrafts

9,331

9,333

13,447

13,347

 

TT Cross Heat Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr N T Cross

8,836

15,061

(15,910)

7,988

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mr N T Cross

7,519

14,582

(13,265)

8,836

At the year end Mr N T Cross had an overdrawn director's loan balance of £7,988 (2023: £8,836). Section 455 tax has been charged in accordance with HM Revenue and Customs guidance.