Craig Property Investments Limited Filleted Accounts Cover
Craig Property Investments Limited
Company No. 09668855
Information for Filing with The Registrar
31 March 2023
Craig Property Investments Limited Balance Sheet Registrar
at
31 March 2023
Company No.
09668855
Notes
2023
2022
£
£
Fixed assets
Investment property
4
925,000925,000
925,000925,000
Current assets
Debtors
5
300,588311,387
Cash at bank and in hand
10,4949,707
311,082321,094
Creditors: Amount falling due within one year
6
(93,060)
(98,387)
Net current assets
218,022222,707
Total assets less current liabilities
1,143,0221,147,707
Creditors: Amounts falling due after more than one year
7
(549,098)
(608,783)
Provisions for liabilities
Deferred taxation
(58,399)
(58,399)
Net assets
535,525480,525
Capital and reserves
Called up share capital
100100
Other reserve
10
199,258199,258
Profit and loss account
10
336,167281,167
Total equity
535,525480,525
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2023 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 September 2023
And signed on its behalf by:
S.R. Craig
Director
29 September 2023
Craig Property Investments Limited Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Its registered number is: 09668855
Its registered office is:
9 Delph Meadow Gardens
Billinge
Wigan
WN5 7QZ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer rebates and other similar allowances.
Taxation
The 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 profit and loss account 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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2022
925,000
At 31 March 2023
925,000
The property was revalued by the directors on 31 March 2023.
5
Debtors
2023
2022
£
£
Trade debtors
4,2804,280
Other debtors
295,737307,107
Prepayments and accrued income
571-
300,588311,387
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
61,95367,617
Taxes and social security
16,107
15,770
Other creditors
15,00015,000
93,06098,387
7
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
370,598430,283
Other creditors
178,500178,500
549,098608,783
Liabilities repayable in more than five years after the balance sheet date
Amount repayable by instalments
190,042
180,686
190,042180,686
The bank loans are secured by a fixed and floating charge over all assets held by the company.
8
Creditors: secured liabilities
2023
2022
£
£
The aggregate amount of secured liabilities included within creditors
400,180455,820
9
Share Capital
Ordinary shares of £1 each
10
Reserves
Other Reserve
Total other reserves
£
£
Movement on reserve
257,657
257,657
Deferred taxation
(58,399)
(58,399)
At 31 March 2022 and 1 April 2022
199,258
199,258
At 31 March 2023
199,258199,258
Other reserve - reflects the revaluation of property.
Profit and loss account - includes all current and prior period retained profits and losses.
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