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Unaudited Financial Statements for the Year Ended 31 December 2023

for

Creegan Properties Limited

Creegan Properties Limited (Registered number: 01156266)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Creegan Properties Limited

Company Information
for the Year Ended 31 December 2023







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: 01156266 (England and Wales)






Creegan Properties Limited (Registered number: 01156266)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 865,845 1,059,460

CURRENT ASSETS
Debtors 4 1,050 1,050
Cash at bank 229,774 40,650
230,824 41,700
CREDITORS
Amounts falling due within one year 5 222,005 196,048
NET CURRENT ASSETS/(LIABILITIES) 8,819 (154,348 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

874,664

905,112

PROVISIONS FOR LIABILITIES 6 71,457 43,021
NET ASSETS 803,207 862,091

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 390,617 390,617
Retained earnings 8 412,490 471,374
SHAREHOLDERS' FUNDS 803,207 862,091

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

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

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 Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





J A Creegan - Director


Creegan Properties Limited (Registered number: 01156266)

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

1. STATUTORY INFORMATION

Creegan Properties 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,045,000 53,981 1,098,981
Disposals (190,000 ) - (190,000 )
At 31 December 2023 855,000 53,981 908,981
DEPRECIATION
At 1 January 2023 - 39,521 39,521
Charge for year - 3,615 3,615
At 31 December 2023 - 43,136 43,136
NET BOOK VALUE
At 31 December 2023 855,000 10,845 865,845
At 31 December 2022 1,045,000 14,460 1,059,460

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2022 - £ 100,000 ) which is not depreciated.

Creegan Properties Limited (Registered number: 01156266)

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

3. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2012 145,000 - 145,000
Valuation in 2017 240,000 - 240,000
Cost 470,000 53,981 523,981
855,000 53,981 908,981

If freehold/leasehold properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 660,000 660,000

Value of land in freehold land and buildings 100,000 100,000

Freehold/leasehold properties were valued on an open market basis basis on 31 December 2022 by the directors .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,050 1,050

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to participating interests 207,822 183,792
Tax 5,257 4,130
Other creditors 4,126 4,126
Accrued expenses 4,800 4,000
222,005 196,048

6. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 71,457 43,021

Deferred
tax
£   
Balance at 1 January 2023 43,021
Deferred tax 28,436
Balance at 31 December 2023 71,457

Creegan Properties Limited (Registered number: 01156266)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 ordinary £1 100 100

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 471,374 390,617 861,991
Deficit for the year (11,821 ) (11,821 )
Dividends (47,063 ) (47,063 )
At 31 December 2023 412,490 390,617 803,107

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors .