REGISTERED NUMBER: 00625597 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

FRANK CROSSLEY & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M R Fagan

Mr J W Blundell

SECRETARY:

Mr M R Fagan

REGISTERED OFFICE:

Second Floor Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1ER

REGISTERED NUMBER:

00625597 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Horsham) Limited

Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1ER

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

18,437

51,969

Investments

6

1

1

18,438

51,970

CURRENT ASSETS

Debtors

7

1,085,507

1,111,882

Cash at bank and in hand

5,165

62,008

1,090,672

1,173,890

CREDITORS

Amounts falling due within one year

8

188,068

260,205

NET CURRENT ASSETS

902,604

913,685

TOTAL ASSETS LESS CURRENT LIABILITIES

921,042

965,655

PROVISIONS FOR LIABILITIES

4,609

12,992

NET ASSETS

916,433

952,663

CAPITAL AND RESERVES

Called up share capital

4,920

4,920

Capital redemption reserve

2,100

2,100

Retained earnings

909,413

945,643

916,433

952,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 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 30 October 2025 and were signed on its behalf by:

Mr M R Fagan - Director

1.	STATUTORY INFORMATION

Frank Crossley & Son 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Frank Crossley & Son Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of commissions receivable and sale of paper related products during the year, exclusive of VAT and trade discounts.

Turnover is recognised at the point at which commission is due to the company.

Revenue form the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Tangible fixed assets are 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

120,342

AMORTISATION

At 1 February 2024

and 31 January 2025

120,342

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2024

25,401

57,950

4,631

87,982

Additions

7,432

-

1,068

8,500

Disposals

-

(57,950

)

-

(57,950

)

At 31 January 2025

32,833

-

5,699

38,532

DEPRECIATION

At 1 February 2024

10,457

21,731

3,825

36,013

Charge for year

4,653

-

1,160

5,813

Eliminated on disposal

-

(21,731

)

-

(21,731

)

At 31 January 2025

15,110

-

4,985

20,095

NET BOOK VALUE

At 31 January 2025

17,723

-

714

18,437

At 31 January 2024

14,944

36,219

806

51,969

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 31 January 2025

1

NET BOOK VALUE

At 31 January 2025

1

At 31 January 2024

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

168,156

136,698

Amounts owed by group undertakings

3,524

2,505

Amounts owed by participating interests

578,826

676,826

Other debtors

335,001

295,853

1,085,507

1,111,882

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

21,234

-

Hire purchase contracts

-

45,139

Trade creditors

39,448

51,802

Amounts owed to participating interests

1

1

Taxation and social security

114,793

147,753

Other creditors

12,592

15,510

188,068

260,205

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the directors owed the company £245,039 (2024:£215,000). The loans accrue interest at 2.25% and is repayable on demand.