Company Registration No. 04748262 (England and Wales)
Crossgate Estates Ltd
Unaudited accounts
for the year ended 31 March 2025
Crossgate Estates Ltd
Unaudited accounts
Contents
Crossgate Estates Ltd
Company Information
for the year ended 31 March 2025
Company Number
04748262 (England and Wales)
Registered Office
Aickman House
Aickmans Yard
King Street
King's Lynn
Norfolk
PE30 1HW
England
Accountants
RFBS Accounting Ltd
22 Beechcroft Close
South Hykeham
Lincoln
Lincolnshire
LN6 9NB
Crossgate Estates Ltd
Statement of financial position
as at 31 March 2025
Investment property
444,897
444,897
Cash at bank and in hand
2,641
179,475
Creditors: amounts falling due within one year
(379,067)
(174,886)
Net current (liabilities)/assets
(376,426)
4,589
Total assets less current liabilities
418,471
449,486
Creditors: amounts falling due after more than one year
(228,496)
(228,496)
Provisions for liabilities
Net assets
189,975
208,884
Called up share capital
2
2
Profit and loss account
189,973
208,882
Shareholders' funds
189,975
208,884
For the year ending 31 March 2025 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 July 2025 and were signed on its behalf by
Paul Yeoman
Director
Company Registration No. 04748262
Crossgate Estates Ltd
Notes to the Accounts
for the year ended 31 March 2025
Crossgate Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 04748262. The registered office is Aickman House, Aickmans Yard, King Street, King's Lynn, Norfolk, PE30 1HW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover for the company is recognised as rental income from investment properties.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings - 2% straight line
4
Tangible fixed assets
Land & buildings
Fair value at 1 April 2024
444,897
Crossgate Estates Ltd
Notes to the Accounts
for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
-
3,752
Loans from directors
378,667
170,734
7
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
228,496
228,496
The company currently has three buy-to-let mortgages secured against three of the investment properties which act as the security for each loan. These three charges are held respectively by two building societies and one bank. These charges are visible on the public register.
The full outstanding capital balance is recognised as a non-current liability as these mortgages are currently on an interest-only repayment plan and will not be considered for repayment until the year 2028. As such, there is no current liability treatment for any of the outstanding loans.
8
Deferred taxation
2025
2024
Revaluation of investment property
-
12,106
Provision at start of year
12,106
-
(Credited)/charged to other comprehensive income
(12,106)
12,106
Provision at end of year
-
12,106
Within the year, the director reinvested all the proceeds from the rollover relief in the year ended 31st March 2024 into a freehold property. As the purchase price exceeded the rollover value, the deferred tax generated has been reversed within the year ended 31st March 2025 and within the 3 year limit.
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).