REGISTERED NUMBER: 07645319 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Crosby Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G R Crosby

REGISTERED OFFICE:

Rosecroft

Lake Road

Coniston

Cumbria

LA21 8EW

REGISTERED NUMBER:

07645319 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

5,098

6,372

Investment property

5

250,000

245,000

255,098

251,372

CURRENT ASSETS

Cash at bank

1,536

2,387

CREDITORS

Amounts falling due within one year

6

(41,209

)

(13,308

)

NET CURRENT LIABILITIES

(39,673

)

(10,921

)

TOTAL ASSETS LESS CURRENT LIABILITIES

215,425

240,451

CREDITORS

Amounts falling due after more than one year

7

(24,070

)

(24,070

)

PROVISIONS FOR LIABILITIES

(12,128

)

(14,145

)

NET ASSETS

179,227

202,236

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

179,226

202,235

SHAREHOLDERS' FUNDS

179,227

202,236

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 January 2026 and were signed by:

G R Crosby - Director

1.	STATUTORY INFORMATION

Crosby Properties 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income receivable, excluding value added tax.

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

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

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.

Going concern

The company's financial statements for the period ended 31 May 2025 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2024

and 31 May 2025

9,062

17,928

26,990

DEPRECIATION

At 1 June 2024

8,565

12,053

20,618

Charge for year

99

1,175

1,274

At 31 May 2025

8,664

13,228

21,892

NET BOOK VALUE

At 31 May 2025

398

4,700

5,098

At 31 May 2024

497

5,875

6,372

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

245,000

Additions

6,794

Revaluations

(1,794

)

At 31 May 2025

250,000

NET BOOK VALUE

At 31 May 2025

250,000

At 31 May 2024

245,000

The directors consider that the market value of the investment property is not materially different to the amount shown in the financial statements at 31 May 2025.

Fair value at 31 May 2025 is represented by:

£

Valuation in 2017

25,171

Valuation in 2018

20,000

Valuation in 2023

30,000

Valuation in 2025

(1,794

)

Cost

176,623

250,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

176,623

169,829

Investment property was valued on an open market basis on 31 May 2025 by the directors .

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

41,209

13,308

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

24,070

24,070

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

24,070

24,070

9.	RELATED PARTY DISCLOSURES

Included within other creditors is the director's current account balance of £38,809 (2024: £10,909). There are no fixed repayment terms and no interest is chargeable on this balance.