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REGISTERED NUMBER: SC192476 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Crolla Properties Ltd

Crolla Properties Ltd (Registered number: SC192476)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crolla Properties Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Remo Crolla





SECRETARY: Alfredo Crolla





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC192476 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Crolla Properties Ltd (Registered number: SC192476)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,381,067 2,411,519
Investments 5 4 4
2,381,071 2,411,523

CURRENT ASSETS
Debtors 6 397,488 186,796
Cash in hand 200 200
397,688 186,996
CREDITORS
Amounts falling due within one year 7 525,473 475,698
NET CURRENT LIABILITIES (127,785 ) (288,702 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,253,286

2,122,821

PROVISIONS FOR LIABILITIES 8 80,683 85,003
NET ASSETS 2,172,603 2,037,818

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Fair value reserve 10 349,499 349,499
Retained earnings 10 1,813,104 1,678,319
SHAREHOLDERS' FUNDS 2,172,603 2,037,818

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

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

Crolla Properties Ltd (Registered number: SC192476)

Balance Sheet - continued
31 July 2024


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 2025 and were signed by:





Remo Crolla - Director


Crolla Properties Ltd (Registered number: SC192476)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Crolla Properties 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 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.
Leasehold property - 5% on cost
Investment property - not provided
Integral features - 15% on reducing balance
Fittings and equipment - 20% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Crolla Properties Ltd (Registered number: SC192476)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Heritable Leasehold Investment
property property property
£    £    £   
COST OR VALUATION
At 1 August 2023 1,129,572 25,597 1,114,956
Additions - - -
At 31 July 2024 1,129,572 25,597 1,114,956
DEPRECIATION
At 1 August 2023 - 23,243 -
Charge for year - 214 -
At 31 July 2024 - 23,457 -
NET BOOK VALUE
At 31 July 2024 1,129,572 2,140 1,114,956
At 31 July 2023 1,129,572 2,354 1,114,956

Fittings
Integral and
features equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 107,359 884,067 3,261,551
Additions - 5,470 5,470
At 31 July 2024 107,359 889,537 3,267,021
DEPRECIATION
At 1 August 2023 83,403 743,386 850,032
Charge for year 4,720 30,988 35,922
At 31 July 2024 88,123 774,374 885,954
NET BOOK VALUE
At 31 July 2024 19,236 115,163 2,381,067
At 31 July 2023 23,956 140,681 2,411,519

Crolla Properties Ltd (Registered number: SC192476)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS - continued

The market values of the Investment Properties have been arrived at on the basis of a valuation
carried out at 31 July 2022 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. The director does not consider the values to have altered materially in the last year, with the exception of the addition of a new property to the portfolio.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 4
NET BOOK VALUE
At 31 July 2024 4
At 31 July 2023 4

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Little Italy (Glasgow) Ltd.
Registered office:
Nature of business: Restaurant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves - 834
Profit for the year - 86,786

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 397,488 186,796

Crolla Properties Ltd (Registered number: SC192476)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 274,239 229,513
Taxation and social security 63,905 66,352
Other creditors 187,329 179,833
525,473 475,698

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 80,683 85,003

Deferred
tax
£   
Balance at 1 August 2023 85,003
Provided during year (4,320 )
Balance at 31 July 2024 80,683

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2023 1,678,319 349,499 2,027,818
Profit for the year 138,785 138,785
Dividends (4,000 ) (4,000 )
At 31 July 2024 1,813,104 349,499 2,162,603

11. ULTIMATE CONTROLLING PARTY



The company was under the control of Remo Crolla, director, throughout the period. Mr Crolla is personally interested in 100% of the issued share capital of the company.