| Crossco Limited |
| Registered number: |
05073141 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investments held as fixed assets |
3 |
|
|
11,853,171 |
|
|
10,201,113 |
|
| Current assets |
| Debtors |
4 |
|
11,417,966 |
|
|
11,570,107 |
| Cash at bank and in hand |
|
|
4,388 |
|
|
17,240 |
|
|
|
11,422,354 |
|
|
11,587,347 |
|
| Creditors: amounts falling due within one year |
5 |
|
(16,831,027) |
|
|
(16,783,354) |
|
| Net current liabilities |
|
|
|
(5,408,673) |
|
|
(5,196,007) |
|
| Net assets |
|
|
|
6,444,498 |
|
|
5,005,106 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
71,710 |
|
|
71,710 |
| Share premium |
|
|
|
10,081,344 |
|
|
10,081,344 |
| Profit and loss account |
|
|
|
(3,708,556) |
|
|
(5,147,948) |
|
| Shareholders' funds |
|
|
|
6,444,498 |
|
|
5,005,106 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| ST Glanville |
| Director |
| Approved by the board on 15 December 2025 |
|
| Crossco Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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). |
|
|
Going concern |
|
At the year end the company has net current liabilities of £5,408,673 (2024: £5,196,007) which includes amounts due to related undertakings. The company meets its day to day working capital requirements through its positive cash balances and funding provided by related parties. These related party relationships will continue for the forseeable future and provide the necesary working capital and financial support to allow the company to continue to trade. This confirmation of financial support means that the directors are confident that the company has sufficient resources to meet its liabilities as they fall due for at least 12 months from the date of approval of these accounts. Therefore these accounts are prepared on a going concern basis.
|
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses plus any fair value adjustments. |
|
|
Debtors |
|
Short term debtors are measured at transaction 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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments held as fixed assets |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 April 2024 |
10,201,113 |
|
Fair value adjustments |
1,652,058 |
|
|
At 31 March 2025 |
11,853,171 |
|
|
|
11,853,171 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts owed by group and related party undertakings |
|
11,413,364 |
|
11,566,105 |
|
Other debtors |
4,602 |
|
4,002 |
|
|
|
|
|
|
11,417,966 |
|
11,570,107 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
9,878 |
|
10,048 |
|
Amounts owed to group and related party undertakings |
|
|
|
|
16,798,804 |
|
16,761,354 |
|
Taxation and social security costs |
4,344 |
|
2,360 |
|
Other creditors |
18,001 |
|
9,592 |
|
|
|
|
|
|
16,831,027 |
|
16,783,354 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
The company undertook the following transactions with subsidiaries: |
|
|
Transactions in the year |
|
Amounts due from/(to) |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Derandd Investors Limited Partnership |
- |
|
- |
|
6,332,910 |
|
6,332,910 |
|
Stampflat Limited |
- |
|
- |
|
(10,772,500) |
|
(10,772,500) |
|
API Limited |
29,919 |
|
47,001 |
|
76,920 |
|
47,001 |
|
|
The company undertook the following transactions with entities whose directors (or general partner's directors) include directors of this company: |
|
|
Transactions in the year |
|
Amounts due from/(to) |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
£ |
|
£ |
|
£ |
|
£ |
|
MNFI Limited Partnership |
182,661 |
|
147,878 |
|
5,003,534 |
|
5,186,195 |
|
Michael Noble Investments |
37,450 |
|
69,100 |
|
(6,026,304) |
|
(5,988,854) |
|
|
Fees of £30,000 (2024: £30,000) were paid to directors during the year. |
|
|
|
|
|
| 7 |
Controlling party |
|
|
The parent company and immediate controlling party is MNFI General Partner Limited, a company incorporated in the United Kingdom with registered number 06312908 and registered office at First Floor, Finchale House, Belmont Business Park, Durham, DH1 1TW. The directors do not consider there to be an ultimate controlling party. The results of the company are not included in any group financial statements. |
|
|
| 8 |
Other information |
|
|
Crossco Limited is a private company limited by shares and incorporated in England. Its registered number is 05073141 and its registered office is: |
|
First Floor |
|
Finchale House |
|
Belmont Business Park |
|
Durham |
|
DH1 1TW |