REGISTERED NUMBER: 00482486 (England and Wales)

CROSS & SANSAM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

D R B Sansam

J H Sansam

A C Barnes

SECRETARY:

D R B Sansam

REGISTERED OFFICE:

63 Ashby Road

Shepshed

Loughborough

Leicestershire

LE12 9BS

REGISTERED NUMBER:

00482486 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Princes Court

Royal Way

Loughborough

Leicestershire

LE11 5XR

BANKERS:

National Westminster Bank plc

Market Place

Loughborough

Leicestershire

LE11 3NZ

FIXED ASSETS

Property, plant and equipment

4

271,383

311,203

CURRENT ASSETS

Inventories

71,296

77,901

Debtors

5

390,553

238,944

Cash at bank

213,739

93,553

675,588

410,398

CREDITORS

Amounts falling due within one year

6

767,186

539,613

NET CURRENT LIABILITIES

(91,598

)

(129,215

)

TOTAL ASSETS LESS CURRENT LIABILITIES

179,785

181,988

CREDITORS

Amounts falling due after more than one year

7

(52,800

)

(126,867

)

PROVISIONS FOR LIABILITIES

(37,456

)

(75,219

)

NET ASSETS/(LIABILITIES)

89,529

(20,098

)

CAPITAL AND RESERVES

Called up share capital

9

3,000

3,000

Capital redemption reserve

3,000

3,000

Retained earnings

83,529

(26,098

)

SHAREHOLDERS' FUNDS

89,529

(20,098

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2025 and were signed on its behalf by:

D R B Sansam - Director

1.	STATUTORY INFORMATION

Cross & Sansam Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.

The financial statements cover the individual entity.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised upon provision of services and despatch of goods.

Property, plant & equipment

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Land and buildings Leasehold

20% Straight line

Plant and machinery

15% Reducing balance

Fixtures, fittings, equipment & computers

15% Reducing balance & 33% Straight line

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Assets acquired under hire purchase contracts are capitalised as property, plant and equipment and depreciation is provided accordingly. The capital element of future payments is treated as a liability; finance charges and interest are taken to the income statement on a straight line basis over the period of the agreement.

Pension costs

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the income statement in the year they are payable.

The company operates a defined benefit scheme for the benefit of its employees. With effect from 5 April 2007 the scheme became fully paid up and from that date members are entitled to deferred defined benefits.The assets of the Cross and Sansam Retirement Benefits Scheme ("The scheme") are held separately in a trustee administered fund.

A liability for the company's obligations under the scheme is recognised net of scheme assets. The net change in the net defined benefit liability is recognised as the cost of the defined benefit scheme during the period. Pension plan assets are measured at fair value and the defined benefit obligation is measured on an actuarial basis using the projected unit method.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Amounts recoverable on contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 32 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2024

119,878

1,012,603

1,132,481

Additions

-

12,614

12,614

Disposals

-

(583

)

(583

)

At 30 June 2025

119,878

1,024,634

1,144,512

DEPRECIATION

At 1 July 2024

111,073

710,205

821,278

Charge for year

4,715

47,298

52,013

Eliminated on disposal

-

(162

)

(162

)

At 30 June 2025

115,788

757,341

873,129

NET BOOK VALUE

At 30 June 2025

4,090

267,293

271,383

At 30 June 2024

8,805

302,398

311,203

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

344,658

212,132

Amounts recoverable on contract

31,995

12,553

Other debtors

13,900

14,259

390,553

238,944

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

41,667

50,000

Hire purchase contracts

-

6,165

Trade creditors

220,567

145,435

Taxation and social security

95,800

91,291

Other creditors

409,152

246,722

767,186

539,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

41,667

Other creditors

52,800

85,200

52,800

126,867

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

41,667

91,667

Hire purchase contracts

-

6,165

Factored debts

193,187

154,374

234,854

252,206

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned. Factored debts are secured on trade debtors.

The bank loan is secured by debenture dated 16 April 2020.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,495

Ordinary A shares of

£1

1,495

1,495

1,495

Ordinary B shares of

£1

1,495

1,495

10

Ordinary C shares of

£1

10

10

3,000

3,000

10.	EMPLOYEE BENEFIT OBLIGATIONS

The company operated a funded defined benefit pension scheme. This is a separate trustee administered fund holding the pension scheme assets to meet long term pension liabilities. With effect from 5 April 2007 the scheme became fully paid up and from that date members are entitled to deferred defined benefits.

The most recent actuarial valuation as at 5 April 2022 showed a deficit of £572,000, at which point the company agreed with the trustees that it would aim to eliminate the deficit over a period of 6 years and 9 months from 5 July 2023 to 5 April 2030 by the payment of monthly contributions of £4,500 increasing at 3% per annum in respect of the deficit, with the first increase due on 5 July 2023. In addition and in accordance with the actuarial valuation, the company agreed with the trustees that it would meet the expenses of the scheme and levies to the Pension Protection Fund.

A new revised Schedule of Contributions and Recovery Plan was signed and effective from 20 December 2024, due to improved funding position. This means that the Recovery Plan contributions mentioned above ceased from this date and expenses from this date are met by the Scheme. The Company will however pay £25,000 per annum to meet the Scheme's running costs.

During the year, the company paid contributions of £40,517 (2024: £51,600). The company is expected to contribute £25,000 to the pension scheme during the year to 30 June 2026.

The valuation used for disclosure under FRS 102 section 28 has been based on the most recent actuarial valuation at 5 April 2022 as updated by Mercer, the scheme's actuary, to take account of the requirements of FRS 102 in order to assess the liabilities of the scheme at 30 June 2025.

The amounts recognised in profit or loss are as follows:

Defined benefit

pension plans

2025

2024

£

£

Current service cost

43,000

-

Net interest from net defined benefit asset/liability

(27,000

)

(18,000

)

Past service cost

-

-

16,000

(18,000

)

Actual return on plan assets

38,000

247,000

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit

pension plans

2025

2024

£

£

Opening defined benefit obligation

1,814,000

1,763,000

Interest cost

91,000

90,000

Actuarial losses/(gains)

(123,000

)

10,000

Benefits paid

(87,000

)

(49,000

)

1,695,000

1,814,000

Changes in the fair value of scheme assets are as follows:

Defined benefit

pension plans

2025

2024

£

£

Opening fair value of scheme assets

2,332,000

2,082,000

Contributions by employer

41,000

52,000

Administration expenses

(43,000

)

-

Interest income

118,000

108,000

Return on plan assets (excluding amounts included in net interest costs)

(80,000

)

139,000

Benefits paid

(87,000

)

(49,000

)

Effect of Asset ceiling b/fwd

(518,000

)

(319,000

)

Effect of asset ceiling

(68,000

)

(199,000

)

1,695,000

1,814,000

The amounts recognised in other comprehensive income are as follows:

Defined benefit

pension plans

2025

2024

£

£

Effect of asset ceiling

(68,000

)

(199,000

)

Actuarial losses/(gains)

123,000

(10,000

)

Return on plan assets (excluding amounts included in net interest costs)

(80,000

)

139,000

(25,000

)

(70,000

)

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Defined benefit

pension plans

2025

2024

Equity instruments

64.80%

62.86%

Debt instruments

34.50%

36.64%

Cash and cash equivalents

0.70%

0.50%

100.00%

100.00%

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2025

2024

Discount rate

5.65%

5.15%

Future pension increases

2.00%

1.95%

Inflation

2.90%

3.05%

Defined contribution scheme

The company operates three defined contribution pension schemes, one for the directors, a stakeholder scheme and an auto enrolment scheme. The assets of the schemes are held separately from those of the company in independently administered funds. The pension costs represents contributions payable by the company to the fund and amounted to £NIL (2024 - £NIL) for the directors scheme, £627 (2024 - £842) for the stakeholder scheme and £14,061 (2024 - £15,319) for the auto enrolment scheme. At 30 June there was a creditor of £1,307 (2024 - £1,963) owing to the auto enrolment pension scheme and £NIL(2024 - NIL) owing to the defined contribution scheme.

11.	OTHER FINANCIAL COMMITMENTS

The company has total commitments due as follows:

2025

2024

£

£

Lease commitments

Within one year

79,515

75,730

Within two to five years

148,071

180,843

227,586

256,573