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REGISTERED NUMBER: SC436338 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Craig & Beverly Ltd

Craig & Beverly Ltd (Registered number: SC436338)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Craig & Beverly Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs M-L Wyness
Mr S D Wyness





REGISTERED OFFICE: 7 Constitution Street
Inverurie
Aberdeenshire
AB51 4SQ





REGISTERED NUMBER: SC436338 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Craig & Beverly Ltd (Registered number: SC436338)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 10,560
Tangible assets 5 168,993 114,105
168,993 124,665

CURRENT ASSETS
Stocks 9,977 10,315
Debtors 6 72,918 76,641
Cash at bank 46,576 64,548
129,471 151,504
CREDITORS
Amounts falling due within one year 7 39,062 49,534
NET CURRENT ASSETS 90,409 101,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,402

226,635

PROVISIONS FOR LIABILITIES 30,424 19,575
NET ASSETS 228,978 207,060

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 228,878 206,960
228,978 207,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Craig & Beverly Ltd (Registered number: SC436338)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





Mr S D Wyness - Director


Craig & Beverly Ltd (Registered number: SC436338)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Craig & Beverly Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Motor vehicles 25% straight line
Computer equipment 33% straight line
Plant & machinery 25% straight line
Fixtures & fittings 20% straight line
Short leasehold property 10% straight line

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 Statement of Income and Retained Earnings, 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.


Craig & Beverly Ltd (Registered number: SC436338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 158,000
AMORTISATION
At 1 April 2022 147,440
Charge for year 10,560
At 31 March 2023 158,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 10,560

Craig & Beverly Ltd (Registered number: SC436338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022 22,166 41,513 5,219
Additions - 1,200 -
Disposals - - -
At 31 March 2023 22,166 42,713 5,219
DEPRECIATION
At 1 April 2022 11,085 39,430 4,092
Charge for year 2,217 1,055 259
Eliminated on disposal - - -
At 31 March 2023 13,302 40,485 4,351
NET BOOK VALUE
At 31 March 2023 8,864 2,228 868
At 31 March 2022 11,081 2,083 1,127

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 272,256 9,279 350,433
Additions 99,825 973 101,998
Disposals (104,965 ) - (104,965 )
At 31 March 2023 267,116 10,252 347,466
DEPRECIATION
At 1 April 2022 173,898 7,823 236,328
Charge for year 42,495 1,084 47,110
Eliminated on disposal (104,965 ) - (104,965 )
At 31 March 2023 111,428 8,907 178,473
NET BOOK VALUE
At 31 March 2023 155,688 1,345 168,993
At 31 March 2022 98,358 1,456 114,105

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 21,108 39,181
Other debtors 51,810 37,460
72,918 76,641

Craig & Beverly Ltd (Registered number: SC436338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 29,172 27,673
Taxation and social security 5,004 6,754
Other creditors 4,886 15,107
39,062 49,534

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs M-L Wyness
Balance outstanding at start of year (199 ) (199 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (199 ) (199 )

9. RELATED PARTY DISCLOSURES

The company paid a total of £28,250 (2022: £28,250) for rent during the year of which £8,250 (2022 - £8,250) was paid to the directors' SIPP for the rental of property at Rowans Garage, Insch and £20,000 (2022 - £20,000) to Craig Properties for rental of property at Constitution Street, a partnership that Mrs M-L Wyness is a partner of.

10. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the year.