Registration number:
Crusader Vehicles Limited
for the Year Ended 29 September 2025
Crusader Vehicles Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Crusader Vehicles Limited
Company Information
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Directors |
Keith Shoebridge Simon Mark Bridgewater Thompson David Rainer Shoebridge |
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Registered office |
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Auditors |
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Crusader Vehicles Limited
(Registration number: 06203641)
Balance Sheet as at 29 September 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Share Capital |
333 |
333 |
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Retained earnings |
(247,876) |
223,208 |
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Shareholders' (deficit)/funds |
(247,543) |
223,541 |
Approved and authorised by the
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......................................... |
Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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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 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 directors 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 2025
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 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:
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Asset class |
Depreciation method and rate |
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Building Improvements |
2% on cost |
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Fixtures & Fittings |
25% on cost |
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Motor Vehicles |
16.67% on reducing balance method |
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Other Tangible Assets |
33% on cost |
Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
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 2025
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
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 2025
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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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Intangible assets |
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Other intangible assets |
Total |
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Cost |
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At 30 September 2024 |
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At 29 September 2025 |
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Amortisation |
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At 30 September 2024 |
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Amortisation charge |
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At 29 September 2025 |
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Carrying amount |
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At 29 September 2025 |
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At 29 September 2024 |
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Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
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Tangible assets |
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Building improvements |
Fixtures and fittings |
Motor vehicles |
Other tangible assets |
Total |
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Cost |
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At 30 September 2024 |
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Additions |
- |
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- |
- |
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Disposals |
- |
- |
( |
- |
( |
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At 29 September 2025 |
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Depreciation |
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At 30 September 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
- |
( |
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At 29 September 2025 |
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Carrying amount |
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At 29 September 2025 |
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At 29 September 2024 |
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Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
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Stocks |
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2025 |
2024 |
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Other inventories |
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Debtors |
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Current |
Note |
2025 |
2024 |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to related parties |
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- |
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Social security and other taxes |
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Other payables |
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Accruals |
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Deferred income |
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Due after one year |
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Loans and borrowings |
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Hire purchase loans are secured on the asset acquired.
Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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HP and finance lease liabilities |
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Bank borrowings include a cash advance of £95,855 against the total facility of £200,000. The remaining £104,145 of the facility was drawn down subsequent to the year end.
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Off-balance sheet arrangements |
At the period end, the company had non-cancellable operating leases amounting to £62,547 (2024 - £62,547), the payment plan for which is as follows:
- Not later than one year - £54,722 (2024: £54,722)
- More than one year and less than five years - £7,825 (2024: £7,825).
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100.00 |
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100.00 |
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100.00 |
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100.00 |
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100.00 |
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100.00 |
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33.33 |
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33.33 |
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Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
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Dividends |
Interim dividends paid
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2025 |
2024 |
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Interim dividend of £ |
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Interim dividend of £ |
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- |
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Interim dividend of £ |
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- |
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Interim dividend of £ |
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- |
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Related party transactions |
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2025 |
2024 |
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Amount owed from group undertaking |
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Directors' remuneration
The directors' remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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Contributions paid to money purchase schemes |
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42,201 |
68,276 |
Crusader Vehicles Limited
Notes to the Financial Statements for the Year Ended 29 September 2025
Summary of transactions with other related parties
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Going concern |
The financial statements have been prepared on a going concern basis. For the year ended 29 September 2025, the Company incurred a net loss of £252,206 and, at that date, had net liabilities of £247,543.
In response, the Directors have taken action to diversify the Company's portfolio and reduce its headcount to lower its cost base. As a result, the unaudited management accounts for the 11 months to 31 August 2026 showed that the Company has returned to profitable trading since the year end.
The Directors have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements, reflecting the expected benefits of the actions above. The forecasts are highly sensitive to sales volumes and a modest shortfall would require corrective action in order to ensure the company could continue to meet its liabilities as they fall due without additional funding.
These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. As a result, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business.
Nevertheless, having considered the forecasts and the measures taken, the Directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern.
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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.
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Audit Information |
The name of the Senior Statutory Auditor who signed the audit report on