Crossways Management Company Limited

Registered number

02290195

Directors' Report and Financial Statements

25 December 2024

Crossways Management Company Limited
Report and financial statements
Contents




Page

Company information	1
Directors' report	2
Statement of directors' responsibilities	3
Independent auditor's report	4
Profit and loss account	7
Balance sheet	8
Statement of changes in equity	9
Notes to the financial statements	10

Crossways Management Company Limited

Company Information

Directors

N P Turner

S E L Milner

Secretary

Caxtons Commercial Limited

Auditors

Cassidys

South Stour Offices

South Stour Road

Mersham

Ashford

Kent

TN25 7HS

Registered office

James Pilcher House

49/50 Windmill Street

Gravesend

Kent

DA12 1BG

Registered number

02290195

Crossways Management Company Limited
Registered number:		02290195
Directors' Report

The directors present their report and financial statements for the year ended 25 December 2024.

Principal activity
The company's principal activity during the year continued to be property management.

Directors
The following persons served as directors during the year:

	N P Turner
	S E L Milner

Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.


Small company provisions
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 23 September 2025 and signed on its behalf.





N P Turner
Director

Crossways Management Company Limited
Statement of Directors' Responsibilities

The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Crossways Management Company Limited
Independent auditor's report
to the members of Crossways Management Company Limited

Opinion

We have audited the financial statements of Crossways Management Company Limited for the year ended 25 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' .
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 25 December 2024 and of its loss for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In accordance with the exemption provided by FRC's Ethical Standard - Provisions Available for Audits of Small Entities, we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the financial statements.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the report and financial statements, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit; or
●	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

How the audit was considered capable of detecting irregularities including fraud:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
●	we identified the laws and regulations applicable to the company through discussions with management, and from our commercial knowledge and experience of property management companies;
●	we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006;
●	we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence; and
●	identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
●	making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
●	considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
●	performed analytical procedures to identify any unusual or unexpected relationships;
●	tested journal entries to identify unusual transactions;
●	assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bais; and
●	investigated the rationale behind significant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
●	agreeing financial statement disclosures to underlying supporting documentation; and
●	enquiring of management as to actual and potential litigation and claims.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.



Stuart Whorlow		South Stour Offices
(Senior Statutory Auditor)		South Stour Road
for and on behalf of		Mersham
Cassidys		Ashford
Chartered Accountants and Registered Auditors		Kent
23 September 2025		TN25 7HS

Crossways Management Company Limited
Profit and Loss Account
for the year ended 25 December 2024


	2024		2023
£		£

Turnover	1,157,027		1,223,750

Administrative expenses	(1,242,637)		(1,246,904)

Operating loss	(85,610)		(23,154)


Loss for the financial year	(85,610)		(23,154)

Crossways Management Company Limited
Registered number:		02290195
Balance Sheet
as at 25 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		40,549			63,853

Current assets
Debtors	4	377,736			490,958
Cash at bank and in hand		643,903			376,363
		1,021,639			867,321

Creditors: amounts falling due within one year	5	(706,809)			(490,185)

Net current assets			314,830			377,136

Net assets			355,379			440,989

Capital and reserves
Called up share capital			1,929			1,929
Maintenance reserve			360,000			427,800
Profit and loss account			(6,550)			11,260

Shareholders' funds			355,379			440,989

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 section 1A – small entities.




N P Turner
Director
Approved by the board and authorised for issue on 23 September 2025

Crossways Management Company Limited
Statement of Changes in Equity
for the year ended 25 December 2024

Share		Maintenance		Profit		Total
capital		reserve		and loss
account
£		£		£		£

At 26 December 2022	1,929		465,110		(2,896)		464,143

Loss for the financial year					(23,154)		(23,154)
Transfer between reserves			(37,310)		37,310		-


At 25 December 2023	1,929		427,800		11,260		440,989



At 26 December 2023	1,929		427,800		11,260		440,989

Loss for the financial year					(85,610)		(85,610)
Transfer between reserves			(67,800)		67,800		-


At 25 December 2024	1,929		360,000		(6,550)		355,379

Crossways Management Company Limited
Notes to the Financial Statements
for the year ended 25 December 2024


1	Accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006.

	Going concern
	The directors have considered whether they believe the company will have adequate resources to continue in operational existence for the foreseeable future, and whether there are any material uncertainties about the company's ability to continue as a going concern for a period of at least one year from the date of authorisation of the financial statements. Taking all information into account, the directors have therefore concluded that it is appropriate to prepare the financial statements on the going concern basis.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings	over the lease term
	Plant and machinery	over 3 years

	A full year’s depreciation is charged in the year an asset is purchased, and no depreciation is charged in the year of its disposal.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


1	Accounting policies (continued)

	Taxation
	The company is a mutually trading enterprise and surpluses or deficits arising as a result of differences between service charges levied (based on estimated costs) and actual costs incurred do not fall within the scope of corporation tax. Tax is payable on investment income only.

	Leased assets
	Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company, including directors			-		-


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 26 December 2023	60,395		436,798		497,193
	Additions	-		10,445		10,445
	At 25 December 2024	60,395		447,243		507,638

	Depreciation
	At 26 December 2023	41,061		392,279		433,340
	Charge for the year	2,415		31,334		33,749
	At 25 December 2024	43,476		423,613		467,089

	Net book value
	At 25 December 2024	16,919		23,630		40,549
	At 25 December 2023	19,334		44,519		63,853


4	Debtors			2024		2023
£					£

	Trade debtors			340,377		448,379
	Other debtors			37,359		42,579
				377,736		490,958


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			164,117		35,916
	Taxation and social security costs			35,504		53,143
	Other creditors			507,188		401,126
				706,809		490,185


6	Maintenance reserve			2024		2023
£					£

	At 26 December 2023			427,800		465,110
	Transfer (to)/from the profit and loss account			(67,800)		(37,310)

	At 25 December 2024			360,000		427,800


7	Other financial commitments			2024		2023
£					£

	Total future minimum payments under non-cancellable operating leases			455,193		516,361


8	Controlling party

	The immediate controlling party of the Company is Crossways (Dartford) Limited by virtue of that company owning 100% of the ordinary shares which have voting rights. The ultimate controlling party is one of the directors, Mr. N. Turner, by virtue of his 50% ownership of the voting ordinary shares in Crossways (Dartford) Limited.


9	Other information

	Crossways Management Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
	James Pilcher House
	49/50 Windmill Street
	Gravesend
	Kent
	DA12 1BG