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Unaudited Financial Statements for the Year Ended 31 March 2024

for


Creegan Property Investments Limited


Creegan Property Investments Limited (Registered number: 01655981)







Contents of the Financial Statements

for the Year Ended 31 March 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

3




Creegan Property Investments Limited


Company Information

for the Year Ended 31 March 2024









DIRECTORS:

J A Creegan


Mrs P J Creegan


A J Creegan







SECRETARY:

Mrs P J Creegan







REGISTERED OFFICE:

41 Malden Way


New Malden


Surrey


KT3 6EB







REGISTERED NUMBER:

01655981 (England and Wales)







Creegan Property Investments Limited (Registered number: 01655981)


Balance Sheet

31 March 2024



31.3.24

31.3.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

2,575,000


2,575,650




CURRENT ASSETS

Debtors

5

192,305


185,406



Cash at bank

159,972


166,594



352,277


352,000



CREDITORS

Amounts falling due within one year

6

24,151


20,710



NET CURRENT ASSETS

328,126


331,290



TOTAL ASSETS LESS CURRENT

LIABILITIES

2,903,126


2,906,940




PROVISIONS FOR LIABILITIES

200,161


200,161



NET ASSETS

2,702,965


2,706,779




CAPITAL AND RESERVES

Called up share capital

7

1,000


1,000



Revaluation reserve

8

1,486,813


1,486,813



Retained earnings

8

1,215,152


1,218,966



SHAREHOLDERS' FUNDS

2,702,965


2,706,779




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Comprehensive Income has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:






Mrs P J Creegan - Director



Creegan Property Investments Limited (Registered number: 01655981)


Notes to the Financial Statements

for the Year Ended 31 March 2024


1.

STATUTORY INFORMATION



Creegan Property Investments Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.    



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.  


Land and buildings

-

3.3% on cost


Plant and machinery etc

-  

25% on cost and 10% on cost



Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.


Investment properties


Depreciation is not provided on the company's investment properties which are valued by the directors on an open market basis.



Going concern


The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 3 (2023 - 3 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures



Freehold


and


Motor



property


fittings


vehicles


Totals

£   

£   

£   

£   



COST OR VALUATION


At 1 April 2023


and 31 March 2024

2,575,000


11,329


12,950


2,599,279




DEPRECIATION


At 1 April 2023

-


10,779


12,850


23,629




Charge for year

-


550


100


650




At 31 March 2024

-


11,329


12,950


24,279




NET BOOK VALUE


At 31 March 2024

2,575,000


-


-


2,575,000




At 31 March 2023

2,575,000


550


100


2,575,650




Creegan Property Investments Limited (Registered number: 01655981)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


4.

TANGIBLE FIXED ASSETS - continued



Included in cost or valuation of land and buildings is freehold land of £ 50,000 (2023 - £ 50,000 ) which is not depreciated.



Cost or valuation at 31 March 2024 is represented by:



Fixtures



Freehold


and


Motor



property


fittings


vehicles


Totals

£   

£   

£   

£   



Valuation in 2018

655,000


-


-


655,000




Valuation in 2013

136,029


-


-


136,029




Valuation in 2007

513,300


-


-


513,300




Valuation in 2004

359,962


-


-


359,962




Cost

910,709


11,329


12,950


934,988



2,575,000


11,329


12,950


2,599,279





If freehold land and buildings had not been revalued they would have been included at the following historical cost:



31.3.24


31.3.23

£   

£   



Cost

910,709


910,709





Value of land in freehold land and buildings

50,000


50,000





Freehold land and buildings were valued on an open market basis basis on 31 March 2022 by the directors .



Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:


Motor


vehicles

£   



COST OR VALUATION


At 1 April 2023


and 31 March 2024

12,950




DEPRECIATION


At 1 April 2023

12,850




Charge for year

100




At 31 March 2024

12,950




NET BOOK VALUE


At 31 March 2024

-




At 31 March 2023

100




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Due from associated company

191,206


185,406




Directors' current accounts

1,099


-



192,305


185,406




Creegan Property Investments Limited (Registered number: 01655981)


Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Tax

3,773


5,325




Social security and other taxes

2,195


2,125




Wages creditor

4,157


-




Other creditors

10,216


10,216




Directors' current accounts

-


44




Accrued expenses

3,810


3,000



24,151


20,710




7.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.24


31.3.23


value:

£   

£   



1,000

Ordinary

£1

1,000


1,000




8.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 April 2023

1,218,966


1,486,813


2,705,779




Profit for the year

15,186


15,186




Dividends

(19,000

)

(19,000

)



At 31 March 2024

1,215,152


1,486,813


2,701,965