CROSSROADS PROPERTIES LIMITED

CROSSROADS PROPERTIES LIMITED

CROSSROADS PROPERTIES LIMITED - Company Information

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CROSSROADS PROPERTIES LIMITED

Company Registration Number:
NI036256 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 May 2018

Period of accounts

Start date: 01 June 2017

End date: 31 May 2018

CROSSROADS PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2018

Balance sheet
Notes

CROSSROADS PROPERTIES LIMITED

Balance sheet

As at 31 May 2018


Notes
2018
11 months to 31 May 2017


£
£
Fixed assets
Tangible assets: 3 219,561 0
Total fixed assets: 219,561 0
Current assets
Stocks: 86,610
Debtors: 4 243,311
Cash at bank and in hand: 409,101
Total current assets: 739,022
Creditors: amounts falling due within one year: 5 (805,281) (67,516)
Net current assets (liabilities): (66,259) (67,516)
Total assets less current liabilities: 153,302 (67,516)
Creditors: amounts falling due after more than one year: 6 (264,259) (279,773)
Total net assets (liabilities): (110,957) (347,289)
Capital and reserves
Called up share capital: 362,222 100
Share premium account: 163,778
Profit and loss account: (636,957) (347,389)
Shareholders funds: (110,957) (347,289)

The notes form part of these financial statements

CROSSROADS PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 May 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 February 2019
and signed on behalf of the board by:

Name: Neil Hamilton
Status: Director

The notes form part of these financial statements

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible fixed assets and depreciation policy

All fixed assets are initially recorded at cost.Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Plant and machinery 25% reducing balanceFixtures and fittings 25% reducing balanceMotor vehicles 25% reducing balanceEquipment 33% straight line

Valuation and information policy

StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition

Other accounting policies

Operating leasesLease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.Finance leases and hire purchase contractsAssets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.Financial instrumentsFinancial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Going concernThe accounts have been prepared on a going concern basis. The directors consider the basis to be appropriate assuming that the bankers and other funders undertake to continue providing financial support.

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

2. Employees

2018 11 months to 31 May 2017
Average number of employees during the period 133 2

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

3. Tangible Assets

Total
Cost £
At 01 June 2017 0
Additions 235,416
At 31 May 2018 235,416
Depreciation
At 01 June 2017 0
Charge for year 15,855
At 31 May 2018 15,855
Net book value
At 31 May 2018 219,561
At 31 May 2017 0

Finance leases and hire purchase contractsIncluded within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

4. Debtors

Trade debtors 117,112 Prepayments and accrued income 86,199Other debtors 40,000

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

5. Creditors: amounts falling due within one year note

Trade creditors 560,420Accruals and deferred income 12,620Social security and other taxes 195,429Obligations under finance leases 2,190and HP contractsDirector loan accounts 4,629Other creditors 29,993TOTAL 805,281

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

6. Creditors: amounts falling due after more than one year note

Obligations under finance leases and HP contracts 5,350Other creditors 258,909TOTAL 264,259

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

7. Loans to directors

The amounts due to the directors on their directors' current accounts are shown within the note, "Creditors: amounts falling due within one year."

CROSSROADS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

8. Related party transactions

No individual shareholder acting on their behalf can exercise control over the company.The key management personnel are the directors.