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REGISTERED NUMBER: SC160400 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

CREAMFORTH LIMITED

CREAMFORTH LIMITED (REGISTERED NUMBER: SC160400)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


CREAMFORTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: M Alexander



SECRETARY: M Alexander



REGISTERED OFFICE: 51-53 High Street
Turriff
AB53 4EJ



REGISTERED NUMBER: SC160400 (Scotland)



ACCOUNTANTS: Bain Henry Reid
51-53 High Street
Turriff
AB53 4EJ



BANKERS: The Royal Bank of Scotland
40 High Street
Banff
AB45 1AJ

CREAMFORTH LIMITED (REGISTERED NUMBER: SC160400)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 600 1,630
Investment property 5 845,000 829,398
845,600 831,028

CURRENT ASSETS
Debtors 6 162,784 150,146
Cash at bank 159,288 143,357
322,072 293,503
CREDITORS
Amounts falling due within one year 7 82,367 44,728
NET CURRENT ASSETS 239,705 248,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,085,305

1,079,803

CAPITAL AND RESERVES
Called up share capital 100 100
Investment property revaluation reserve 8 372,366 372,366
Retained earnings 712,839 707,337
SHAREHOLDERS' FUNDS 1,085,305 1,079,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 12 February 2024 and were signed by:





M Alexander - Director


CREAMFORTH LIMITED (REGISTERED NUMBER: SC160400)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Creamforth Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the rental income excluding value added tax to which the company is entitled from the letting of its investment property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

CREAMFORTH LIMITED (REGISTERED NUMBER: SC160400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 27,898
DEPRECIATION
At 1 October 2022 26,268
Charge for year 1,030
At 30 September 2023 27,298
NET BOOK VALUE
At 30 September 2023 600
At 30 September 2022 1,630

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 829,398
Revaluations 15,602
At 30 September 2023 845,000
NET BOOK VALUE
At 30 September 2023 845,000
At 30 September 2022 829,398

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2008 97,366
Valuation in 2013 275,000
Valuation in 2020 (125,000 )
Valuation in 2023 15,602
Cost 582,032
845,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 582,032 582,032

Aberdeen investment property was valued on an open market basis basis on 22 April 2021 by AB Robb Ltd, Chartered Surveyors .

The directors have reviewed the fair value of the investment properties and adjusted them accordingly.

CREAMFORTH LIMITED (REGISTERED NUMBER: SC160400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,500 -
Amounts owed by associates 148,309 148,309
Prepayments and accrued income 3,975 1,837
162,784 150,146

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors (4 ) 68
Taxation 20,124 14,411
VAT 5,603 7,259
Other creditors 5,600 -
Directors' loan accounts 32,687 4,659
Accruals and deferred income 18,357 18,331
82,367 44,728

8. RESERVES
Investment
property
revaluation
reserve
£   
At 1 October 2022
and 30 September 2023 372,366

Investment property revaluation reserve represents no distributable retained earnings in respect of fair value adjustments of investment property less related deferred tax.

9. DIRECTORS LOAN

The following loan from a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
D Alexander
Balance outstanding at start of year 4,660 39,237
Amounts advanced 30,346 1,370
Amounts repaid (2,319 ) (35,947 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,687 4,660

The loan is interest free and there are no fixed terms of repayment.

10. RELATED PARTY TRANSACTIONS

anroL Ltd, a company under the control of M Alexander, has an outstanding loan of £148,309 (2021 £148,309). The loan is interest free and there are no fixed terms of repayment.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Alexander.