REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Crolpia Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Crolpia Limited |
Crolpia Limited (Registered number: SC205981) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Crolpia Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
25 Sandyford Place |
Glasgow |
G3 7NG |
Crolpia Limited (Registered number: SC205981) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Capital redemption reserve |
Fair value reserve | 13 |
Retained earnings |
SHAREHOLDERS' FUNDS |
Crolpia Limited (Registered number: SC205981) |
Balance Sheet - continued |
31 July 2023 |
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. |
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 |
Crolpia Limited (Registered number: SC205981) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Crolpia Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fittings and equipment | - |
As of the year to 31 July 2018, heritable property is being measured on a fair value basis, rather than cost less depreciation. The fair value is arrived at on the basis of a valuation carried out annually by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the state of the property market in the areas where the properties are situated. |
Investment property |
The market values of the Investment Properties have been arrived at on the basis of a valuation carried out at 31 July 2023 by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the state of the rental market in the areas where the properties are situated. |
Financial instruments |
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
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. |
Crolpia Limited (Registered number: SC205981) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 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. |
Group accounts |
The director has taken advantage of the exemption available under Section 398 of the Companies Act 2006 not to prepare group accounts as the group which the company leads qualifies as a small group. The accounts therefore contain information about the company as an individual company and do not contain consolidated information as part of a group. |
Grant income |
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Crolpia Limited (Registered number: SC205981) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | TANGIBLE FIXED ASSETS |
Fittings |
Heritable | and |
property | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Cost or valuation at 31 July 2023 is represented by: |
Fittings |
Heritable | and |
property | equipment | Totals |
£ | £ | £ |
Valuation in 2018 | 288,452 | - | 288,452 |
Cost | 661,548 | 1,157,376 | 1,818,924 |
950,000 | 1,157,376 | 2,107,376 |
If the heritable property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 661,548 | 661,548 |
Aggregate depreciation | 152,581 | 152,581 |
The heritable property was valued on an open market basis on 31 July 2022 by the director . |
Crolpia Limited (Registered number: SC205981) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
Revaluations | 20,000 |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Crolpia Limited (Registered number: SC205981) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2017 | 7,219 |
Valuation in 2018 | 10,000 |
Valuation in 2023 | 20,000 |
Cost | 142,781 |
180,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 142,781 | 142,781 |
Investment property was valued on an open market basis on 31 July 2023 by the director . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
10. | SECURED DEBTS |
There exists in respect of group borrowings a Cross Corporate Guarantee and a Bond and Floating Charge over the assets of the company. |
Crolpia Limited (Registered number: SC205981) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 118,034 | 124,430 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Provided during year | ( |
) |
Balance at 31 July 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 45 | 45 |
13. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 August 2022 |
Revaluation of inv. prop. | 20,000 |
At 31 July 2023 |
14. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the director Dominic Crolla and his wife, who own the entire issued share capital. |