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Registered number: 08448689
McCrossan Furniture Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2026
McCrossan Furniture Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
McCrossan Furniture Ltd
Balance Sheet
As At 31 March 2026
Balance Sheet
Registered number: 08448689

| 2026 | 2025
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 18,905 |  | 14,836
|  |  | 18,905 |  | 14,836
CURRENT ASSETS
Stocks | 5 | 5,000 |  | 5,000 |
Debtors | 6 | 57,058 |  | 59,386 |
Cash at bank and in hand |  | 1,960 |  | - |
|  | 64,018 |  | 64,386 |
Creditors: Amounts Falling Due Within One Year | 7 | (59,677 ) |  | (48,666 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 4,341 |  | 15,720
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 23,246 |  | 30,556
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (23,235 ) |  | (30,554 )
NET ASSETS |  |  | 11 |  | 2
CAPITAL AND RESERVES
Called up share capital | 10 |  | 1 |  | 1
Profit and Loss Account |  |  | 10 |  | 1
SHAREHOLDERS' FUNDS |  |  | 11 |  | 2

Page 1
Page 2
McCrossan Furniture Ltd
Balance Sheet (continued)
As At 31 March 2026
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Matthew McCrossan Director
19/06/2026

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
McCrossan Furniture Ltd
Notes to the Financial Statements
For The Year Ended 31 March 2026
Notes to the Financial Statements
1. General Information
McCrossan Furniture Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08448689 . The registered office is Unit 9 Brunswick Industrial Estate, Brunswick Village, Newcastle Upon Tyne, NE13 7BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 25% Straight Line
Motor Vehicles | 25% Reducing Balance
Computer Equipment | 25% Straight Line

2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Page 3
Page 4
McCrossan Furniture Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2025: 6)
6 6
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost
As at 1 April 2025 | 28,242 | 16,265 | 1,672 | 46,179
Additions | 695 | 11,198 | - | 11,893
As at 31 March 2026 | 28,937 | 27,463 | 1,672 | 58,072
Depreciation
As at 1 April 2025 | 20,343 | 9,328 | 1,672 | 31,343
Provided during the period | 3,990 | 3,834 | - | 7,824
As at 31 March 2026 | 24,333 | 13,162 | 1,672 | 39,167
Net Book Value
As at 31 March 2026 | 4,604 | 14,301 | - | 18,905
As at 1 April 2025 | 7,899 | 6,937 | - | 14,836

5. Stocks

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Stock | 5,000 |  | 5,000

6. Debtors

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 1,766 |  | 914
Prepayments and accrued income | 3,940 |  | 3,931
Other debtors | 194 |  | 4
Director's loan account | 36,954 |  | 45,087
| 42,854 |  | 49,936
Due after more than one year
Corporation tax recoverable assets | 14,204 |  | 9,450
| 57,058 |  | 59,386

Page 4
Page 5
McCrossan Furniture Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
7. Creditors: Amounts Falling Due Within One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 3,091 |  | -
Trade creditors | 19,396 |  | 9,587
Bank loans and overdrafts | 6,506 |  | 15,004
Corporation tax | 6,572 |  | 11,494
Other taxes and social security | 4,415 |  | 427
VAT | 16,280 |  | 9,238
Other creditors | 3,417 |  | 2,916
| 59,677 |  | 48,666

8. Creditors: Amounts Falling Due After More Than One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 6,427 |  | -
Bank loans | 16,808 |  | 30,554
| 23,235 |  | 30,554

9. Obligations Under Finance Leases and Hire Purchase

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 3,091 |  | -
Later than one year and not later than five years | 6,427 |  | -
| 9,518 |  | -
| 9,518 |  | -

10. Share Capital

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1 |  | 1

11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 April 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 March 2026
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Matthew McCrossan | 45,087 | - | 9,133 | - | 36,954

The above loan is unsecured, interest free and repayable on demand.
Page 5