Company No: 04657789 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Statement of Changes in Equity
• Notes to the Financial Statements

DIRECTORS	Mrs B A Cross
	Mr G Cross
	Mr R Cross
	Mrs S Selkirk

SECRETARY

Mrs B A Cross

REGISTERED OFFICE	10 Kings Meadow
	Ferry Hinksey Road
	Oxford
	OX2 0DP
	United Kingdom

COMPANY NUMBER

04657789 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	43,143		55,065
		43,143		55,065
Current assets
Stocks		50,809		21,067
Debtors	5	971,113		1,112,619
Cash at bank and in hand		33,025		103,551
		1,054,947		1,237,237
Creditors: amounts falling due within one year	6	( 330,497)		( 400,505)
Net current assets		724,450		836,732
Total assets less current liabilities		767,593		891,797
Creditors: amounts falling due after more than one year	7	( 25,928)		( 24,627)
Provision for liabilities		( 10,593)		( 13,454)
Net assets		731,072		853,716
Capital and reserves
Called-up share capital	8	57		57
Capital redemption reserve		43		43
Profit and loss account		730,972		853,616
Total shareholders' funds		731,072		853,716

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of G F Cross & Sons Limited (registered number: 04657789) were approved and authorised for issue by the Board of Directors on 04 November 2025. They were signed on its behalf by:

Mr R Cross Director

	Called-up share capital		Capital redemption reserve		Profit and loss account		Total
	£		£		£		£
At 01 April 2023	57		43		871,785		871,885
Profit for the financial year	0		0		206,031		206,031
Total comprehensive income	0		0		206,031		206,031
Dividends paid on equity shares	0		0		( 224,200)		( 224,200)
At 31 March 2024	57		43		853,616		853,716
At 01 April 2024	57		43		853,616		853,716
Profit for the financial year	0		0		53,476		53,476
Total comprehensive income	0		0		53,476		53,476
Dividends paid on equity shares	0		0		( 176,120)		( 176,120)
At 31 March 2025	57		43		730,972		731,072

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

G F Cross & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Kings Meadow, Ferry Hinksey Road, Oxford, OX2 0DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	10 - 10 years straight line
Plant and machinery	15 - 15 % reducing balance
Vehicles	25 - 25 % reducing balance
Fixtures and fittings	15 % reducing balance
Other property, plant and equipment	50 % reducing balance

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		18

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	600,000		600,000
At 31 March 2025	600,000		600,000
Accumulated amortisation
At 01 April 2024	600,000		600,000
At 31 March 2025	600,000		600,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	34,396		48,258		131,932		24,722		920		240,228
Additions	0		438		0		2,050		0		2,488
Disposals	0		( 550)		( 11,650)		0		0		( 12,200)
At 31 March 2025	34,396		48,146		120,282		26,772		920		230,516
Accumulated depreciation
At 01 April 2024	33,148		35,995		100,187		14,934		899		185,163
Charge for the financial year	479		1,863		7,245		1,775		10		11,372
Disposals	0		( 277)		( 8,885)		0		0		( 9,162)
At 31 March 2025	33,627		37,581		98,547		16,709		909		187,373
Net book value
At 31 March 2025	769		10,565		21,735		10,063		11		43,143
At 31 March 2024	1,248		12,263		31,745		9,788		21		55,065

5. Debtors

	2025		2024
	£		£
Trade debtors	68,025		174,873
Amounts owed by Parent undertakings	703,497		703,497
Other debtors	199,591		234,249
	971,113		1,112,619

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	179,520		188,477
Amounts owed to connected persons	602		27
Corporation tax	20,269		72,161
CIS withheld	36		0
Other taxation and social security	5,352		10,817
Other creditors	124,718		129,023
	330,497		400,505

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	25,928		24,627

Included within other creditors are loans from Ingenious Resources Limited totaling £25,928 (2024: £24,627). These loans facilitated the purchase of the investments now fully written off. The loans are secured by way of a first priority fixed charge over the investments and are repayable upon realisation or sale.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
714 A ordinary shares of £ 0.01 each	7		7
1,400 B ordinary shares of £ 0.01 each	14		14
1,400 C ordinary shares of £ 0.01 each	14		14
2,200 D ordinary shares of £ 0.01 each	22		22
	57		57

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	33,779		60,436

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Opening balance	(141)		(98)
Amounts advanced	153,237		175,857
Amounts repaid	153,400		(175,900)
Closing balance	(163)		(141)

Dividends totalling £96,122 (2024: £106,530) were paid in the year in respect of shares held by the company's directors.

11. Ultimate controlling party

Parent Company:

G.F. Cross & Sons (Holdings) Limited

10 Kings Meadow, Ferry Hinksey Road, Oxford, Oxfordshire, United Kingdom, OX2 0DP

G.F. Cross & Sons Limited is an affiliate of G.F. Cross & Sons (Holdings) Limited which owns 38.5% of the issued share capital.