REGISTERED NUMBER: 01175336 (England and Wales)

Financial Statements for the Year Ended 30 June 2025

for

Crosswear Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

S J Shipton

R C Shipton

REGISTERED OFFICE:

Building 1

St. Cross Chambers

Upper Marsh Lane

Hoddesdon

Hertfordshire

EN11 8LQ

REGISTERED NUMBER:

01175336 (England and Wales)

ACCOUNTANTS:

Reece & Co.

Building 1

St. Cross Chambers

Upper Marsh Lane

Hoddesdon

Hertfordshire

EN11 8LQ

FIXED ASSETS

Tangible assets

4

163,455

171,390

CURRENT ASSETS

Stocks

451,246

402,765

Debtors

5

855,760

413,137

Cash at bank and in hand

571,293

659,022

1,878,299

1,474,924

CREDITORS

Amounts falling due within one year

6

1,296,705

991,786

NET CURRENT ASSETS

581,594

483,138

TOTAL ASSETS LESS CURRENT LIABILITIES

745,049

654,528

PROVISIONS FOR LIABILITIES

8

38,078

39,882

NET ASSETS

706,971

614,646

CAPITAL AND RESERVES

Called up share capital

9

1,500

1,500

Retained earnings

10

705,471

613,146

SHAREHOLDERS' FUNDS

706,971

614,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 October 2025 and were signed on its behalf by:

R C Shipton - Director

1.	STATUTORY INFORMATION

Crosswear Trading 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.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Financial Instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Judgements and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision effects only that period, or in the period of the revision and future periods, if the revision effects both current and future periods.

The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office & Warehouse Equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2024 - 42 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office &

and

Motor

Warehouse

fittings

vehicles

Equipment

Totals

£

£

£

£

COST

At 1 July 2024

329,891

67,791

386,968

784,650

Additions

21,238

-

4,787

26,025

At 30 June 2025

351,129

67,791

391,755

810,675

DEPRECIATION

At 1 July 2024

287,042

12,366

313,852

613,260

Charge for year

9,052

13,856

11,052

33,960

At 30 June 2025

296,094

26,222

324,904

647,220

NET BOOK VALUE

At 30 June 2025

55,035

41,569

66,851

163,455

At 30 June 2024

42,849

55,425

73,116

171,390

5.

DEBTORS

30.6.25

30.6.24

£

£

Amounts falling due within one year:

Trade debtors

109,691

75,403

Other debtors

88,959

99,124

198,650

174,527

Amounts falling due after more than one year:

Amounts owed by associates

657,110

238,610

Aggregate amounts

855,760

413,137

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade creditors

867,444

696,571

Taxation and social security

161,570

148,020

Other creditors

267,691

147,195

1,296,705

991,786

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.25

30.6.24

£

£

Between one and five years

199,360

199,360

8.	PROVISIONS FOR LIABILITIES

30.6.25

30.6.24

£

£

Deferred tax

38,078

39,882

Deferred

tax

£

Balance at 1 July 2024

39,882

Decrease during year

(1,804

)

Balance at 30 June 2025

38,078

Deferred taxation arises from accelerated capital allowances.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

£

1,200

'A' Ordinary

£1

1,200

1,200

300

'B' Ordinary

£1

300

300

1,500

1,500

10.

RESERVES

Retained

earnings

£

At 1 July 2024

613,146

Profit for the year

182,325

Dividends

(90,000

)

At 30 June 2025

705,471

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

R Shipton is a director of Shopgift Ltd, retailers of Greeting Cards, to whom the company supplied goods to the value of £156,648 (2024 - £171,432) on normal commercial terms. At the balance sheet date the amount outstanding was £17,448 (2024 - £19,861).

R Shipton is a director of Party Puffin Limited, internet retail of party products, to whom the company supplied goods to the value of £156,648 (2024 - £205,152) on normal commercial terms. At the balance sheet date the amount outstanding was £12,600 (2024 - £14,201).

The company is controlled by it's directors who own all the issued share capital.

During the year dividends were voted totalling £90,000 (2024 - £92,000)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2025 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Reece & Co.

Building 1

St. Cross Chambers

Upper Marsh Lane

Hoddesdon

Hertfordshire

EN11 8LQ

22 October 2025