Crosswell Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05059980 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Crosswell Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Cuckill

Mrs S J Cuckill

REGISTERED OFFICE:

5 Ollerbarrow Road

Hale

Cheshire

WA15 9PW

REGISTERED NUMBER:

05059980 (England and Wales)

ACCOUNTANTS:

Account-Angels (North West) Limited

Uglow Farm

Broadhead Road

Edgworth

Bolton

BL7 0JN

FIXED ASSETS

Investment property

4

224,250

170,000

CURRENT ASSETS

Stocks

98,187

30,000

Debtors

5

85,343

95,743

Cash at bank

189,693

273,326

373,223

399,069

CREDITORS

Amounts falling due within one year

6

198,268

207,811

NET CURRENT ASSETS

174,955

191,258

TOTAL ASSETS LESS CURRENT LIABILITIES

399,205

361,258

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

8

(1,976

)

(1,976

)

Retained earnings

401,179

363,232

SHAREHOLDERS' FUNDS

399,205

361,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 25 February 2019 and were signed on its behalf by:

M A Cuckill - Director

1.	STATUTORY INFORMATION

Crosswell 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2017

170,000

Additions

54,250

At 31 May 2018

224,250

NET BOOK VALUE

At 31 May 2018

224,250

At 31 May 2017

170,000

Fair value at 31 May 2018 is represented by:

£

Valuation in 2017

1,524

Cost

222,726

224,250

If property investments had not been revalued they would have been included at the following

historical cost:

31.5.18

31.5.17

£

£

Cost

222,726

168,476

Property investments were valued on an open market basis on 31 May 2018 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Other debtors

85,343

95,743

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Bank loans and overdrafts

105,658

97,568

Trade creditors

-

1

Taxation and social security

10,124

15,123

Other creditors

82,486

95,119

198,268

207,811

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.18

31.5.17

£

£

Bank loans

105,658

97,568

8.

RESERVES

Revaluation

reserve

£

At 1 June 2017

and 31 May 2018

(1,976

)

9.	RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is a joint directors current account, in

the names of M A Cuckill and Mrs S J Cuckill amounting to £80385 (2017 £93019). This loan is

unsecured, interest free and repayable upon demand.