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Registration number: 06203641

Crusader Vehicles Limited
Filleted Financial Statements
for the Year Ended 29 September 2024

Crusader Vehicles Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 11

Crusader Vehicles Limited

Company Information

Directors | Keith Shoebridge Simon Mark Bridgewater Thompson David Rainer Shoebridge

Registered office | Crusader House, High Street, Buxted Uckfield East Sussex England TN22 4LA

Auditors | MG Audit Services Limited Chartered Accountants166 College Road Harrow Middlesex HA1 1BH

Crusader Vehicles Limited

(Registration number: 06203641)
Balance Sheet as at 29 September 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 5 | 5,247 | 5,420
Tangible assets | 6 | 548,406 | 293,559
|  | 553,653 | 298,979
Current assets |  |  |
Stocks | 7 | 171,492 | 880,502
Debtors | 8 | 606,306 | 1,381,913
Cash at bank and in hand |  | 153,294 | 1,414,624
|  | 931,092 | 3,677,039
Creditors: Amounts falling due within one year | 9 | (897,449) | (3,219,847)
Net current assets |  | 33,643 | 457,192
Total assets less current liabilities |  | 587,296 | 756,171
Creditors: Amounts falling due after more than one year | 9 | (225,216) | (140,308)
Provisions for liabilities |  | (138,539) | (68,880)
Net assets |  | 223,541 | 546,983
Capital and reserves |  |  |
Share Capital | 11 | 333 | 300
Retained earnings |  | 223,208 | 546,683
Shareholders' funds |  | 223,541 | 546,983

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 October 2025 and signed on its behalf by:

......................................... David Rainer Shoebridge Director

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Crusader House,
High Street,
Buxted
Uckfield
East Sussex
TN22 4LA
England

These financial statements were authorised for issue by the Board on 27 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The comparatives are for 18 months from 31 March 2022 to 29 September 2023. There was change in reporting date in the prior year for administrative purposes.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The director have taken steps to ensure the company continues as a going concern for the foreseeable future, including addressing the company strategy to increase revenue streams. Therefore, the directors believe that the financial statements should be prepared on a going concern basis.

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
Sale of goods:
Turnover from sale of vehicles is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.
Rendering of services:
When the outcome of a transaction can be estimated reliably, turnover from commission is recognised at the date of sale of the vehicle to which the commission relates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Building Improvements | 2% on cost
Fixtures & Fittings | 25% on cost
Motor Vehicles | 16.67% on reducing balance method
Other Tangible Assets | 33% on cost

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Websites are being amortised evenly over their estimated useful life of thirty three years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment.

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

3 | Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies which are described in Note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Critical judgements in applying the company’s accounting policies
Management does not consider there to be any critical judgements or significant estimates.

4 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (31.03.2022 to 29.09.2023 - 21).

5 | Intangible assets

| Other intangible assets £ | Total £
Cost
At 30 September 2023 | 5,750 | 5,750
At 29 September 2024 | 5,750 | 5,750
Amortisation
At 30 September 2023 | 330 | 330
Amortisation charge | 173 | 173
At 29 September 2024 | 503 | 503
Carrying amount
At 29 September 2024 | 5,247 | 5,247
At 29 September 2023 | 5,420 | 5,420

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

6 | Tangible assets

| Building improvements £ | Fixtures and fittings £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost
At 30 September 2023 | 19,552 | 45,783 | 380,931 | 30,241 | 476,507
Additions | - | 575 | 393,370 | - | 393,945
Disposals | - | (3,170) | (148,439) | - | (151,609)
At 29 September 2024 | 19,552 | 43,188 | 625,862 | 30,241 | 718,843
Depreciation
At 30 September 2023 | 1,512 | 39,141 | 118,190 | 24,105 | 182,948
Charge for the year | 391 | 2,733 | 50,703 | 5,428 | 59,255
Eliminated on disposal | - | (493) | (71,273) | - | (71,766)
At 29 September 2024 | 1,903 | 41,381 | 97,620 | 29,533 | 170,437
Carrying amount
At 29 September 2024 | 17,649 | 1,807 | 528,242 | 708 | 548,406
At 29 September 2023 | 18,040 | 6,642 | 262,741 | 6,136 | 293,559

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

7 | Stocks

| 2024 £ | 2023 £
Other inventories | 171,492 | 880,502

8 | Debtors

Current | Note | 2024 £ | 2023 £
Trade debtors |  | 306,848 | 1,201,907
Amounts owed by group undertakings |  | 156,821 | 5,495
Prepayments |  | 42,861 | 18,963
Other debtors |  | 99,776 | 155,548
|  | 606,306 | 1,381,913

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings |  | 241,516 | 105,467
Trade creditors |  | 453,035 | 1,506,903
Amounts due to related parties |  | - | 101,253
Social security and other taxes |  | 73,837 | 120,583
Other payables |  | 19,418 | 326,440
Accruals |  | 28,094 | 141,056
Deferred income |  | 81,549 | 918,145
|  | 897,449 | 3,219,847
Due after one year |  |  |
Loans and borrowings |  | 225,216 | 140,308

Hire purchase loans are secured on the asset acquired.

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 160,000 | 10,000
HP and finance lease liabilities | 81,516 | 95,467
| 241,516 | 105,467

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings |  | 225,216 | 140,308

10 | Off-balance sheet arrangements

At the period end, the company had non-cancellable operating leases amounting to £62,547 (2023 - £124,161), the payment plan for which is as follows:
- Not later than one year - £54,722 (2023: £64,521)
- More than one year and less than five years - £7,825 (2023: 59,640).

11 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary Share A of £0.00 each | 100,000 | 100.00 | 100,000 | 100.00
Ordinary Share B of £0.00 each | 100,000 | 100.00 | 100,000 | 100.00
Ordinary Share C of £0.00 each | 100,000 | 100.00 | 100,000 | 100.00
Non-Voting of £0.00 (2023 - £0) each | 33,333 | 33.33 | - | -
| 333,333 | 333.33 | 300,000 | 300.00

12 | Parent Company

Crusader Vehicles Limited is a subsidiary of FFTF Holdings Ltd. Its registered office is Crusader House, High Street, Buxted, Uckfield, East Sussex TN22 4LA. FFTF Holdings Ltd prepares group accounts, which can be obtained from https://find-and-update.company-information.service.gov.uk.

Crusader Vehicles Limited

Notes to the Financial Statements for the Year Ended 29 September 2024

13 | Audit Information

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 27 October 2025 was Gavin Fernandes, who signed for and on behalf of MG Audit Services Limited.