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REGISTERED NUMBER: SC351052 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CRANACHAN LTD

CRANACHAN LTD (REGISTERED NUMBER: SC351052)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRANACHAN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A D Dexter
Mrs J G Dexter





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC351052 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

CRANACHAN LTD (REGISTERED NUMBER: SC351052)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 76,840 89,040
Tangible assets 5 58,391 70,830
135,231 159,870

CURRENT ASSETS
Stocks 6 14,495 14,173
Debtors 7 59,443 111,532
Cash at bank 116,629 236,573
190,567 362,278
CREDITORS
Amounts falling due within one year 8 183,581 401,362
NET CURRENT ASSETS/(LIABILITIES) 6,986 (39,084 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,217

120,786

CREDITORS
Amounts falling due after more than one year 9 (24,173 ) (27,463 )

PROVISIONS FOR LIABILITIES (8,470 ) -
NET ASSETS 109,574 93,323

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 109,573 93,322
SHAREHOLDERS' FUNDS 109,574 93,323

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.

CRANACHAN LTD (REGISTERED NUMBER: SC351052)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mrs J G Dexter - Director


CRANACHAN LTD (REGISTERED NUMBER: SC351052)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Cranachan 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 2019, 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on a straight line basis
Fixtures and fittings - 10% on a straight line basis

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 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 27 (2022 - 26 ) .

CRANACHAN LTD (REGISTERED NUMBER: SC351052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 104,000 18,000 122,000
AMORTISATION
At 1 January 2023 27,560 5,400 32,960
Charge for year 10,400 1,800 12,200
At 31 December 2023 37,960 7,200 45,160
NET BOOK VALUE
At 31 December 2023 66,040 10,800 76,840
At 31 December 2022 76,440 12,600 89,040

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 January 2023 40,656 265,075 305,731
Additions - 17,890 17,890
At 31 December 2023 40,656 282,965 323,621
DEPRECIATION
At 1 January 2023 27,851 207,050 234,901
Charge for year 2,033 28,296 30,329
At 31 December 2023 29,884 235,346 265,230
NET BOOK VALUE
At 31 December 2023 10,772 47,619 58,391
At 31 December 2022 12,805 58,025 70,830

6. STOCKS
2023 2022
£    £   
Stocks 14,495 14,173

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 45,440 105,053
Prepayments and accrued income 14,003 6,479
59,443 111,532

CRANACHAN LTD (REGISTERED NUMBER: SC351052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,422 12,422
Trade creditors 62,206 62,682
Tax 14,864 33,641
Social security and other taxes 14,649 11,093
VAT 55,612 43,588
Other creditors - 199,690
Directors' current accounts 16,114 24,853
Accrued expenses 7,714 13,393
183,581 401,362

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 24,173 27,463