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REGISTERED NUMBER: SC205981 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Crolpia Limited

Crolpia Limited (Registered number: SC205981)






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


Crolpia Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Dominic Crolla





SECRETARY: Genoveffa Crolla





REGISTERED OFFICE: 85 Kilmarnock Road
Glasgow
G41 3YR





REGISTERED NUMBER: SC205981 (Scotland)





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

Crolpia Limited (Registered number: SC205981)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,108,254 1,136,182
Investments 5 2 2
Investment property 6 579,866 180,000
1,688,122 1,316,184

CURRENT ASSETS
Debtors 7 815,505 818,506
Cash at bank 6,134 89,759
821,639 908,265
CREDITORS
Amounts falling due within one year 8 170,942 186,686
NET CURRENT ASSETS 650,697 721,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,338,819

2,037,763

PROVISIONS FOR LIABILITIES 10 122,472 118,034
NET ASSETS 2,216,347 1,919,729

CAPITAL AND RESERVES
Called up share capital 11 45 45
Capital redemption reserve 55 55
Fair value reserve 12 374,006 374,006
Retained earnings 1,842,241 1,545,623
SHAREHOLDERS' FUNDS 2,216,347 1,919,729

Crolpia Limited (Registered number: SC205981)

Balance Sheet - continued
31 July 2024


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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2025 and were signed by:





Dominic Crolla - Director


Crolpia Limited (Registered number: SC205981)

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

1. STATUTORY INFORMATION

Crolpia Limited 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.
Fittings and equipment - 15% on reducing balance

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 Statement of Income and Retained Earnings, 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 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 950,000 1,157,376 2,107,376
DEPRECIATION
At 1 August 2023 - 971,194 971,194
Charge for year - 27,928 27,928
At 31 July 2024 - 999,122 999,122
NET BOOK VALUE
At 31 July 2024 950,000 158,254 1,108,254
At 31 July 2023 950,000 186,182 1,136,182

Crolpia Limited (Registered number: SC205981)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2024 is represented by:

Fittings
Heritable and
property equipment Totals
£    £    £   
Valuation in 2022 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:

2024 2023
£    £   
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 .

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 2
NET BOOK VALUE
At 31 July 2024 2
At 31 July 2023 2

Crolpia Limited (Registered number: SC205981)

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

5. FIXED ASSET INVESTMENTS - continued

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

Oro Restaurant Limited
Registered office:
Nature of business: Restaurant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 18,480 182
Profit for the year 345,730 353,843

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 180,000
Additions 399,866
At 31 July 2024 579,866
NET BOOK VALUE
At 31 July 2024 579,866
At 31 July 2023 180,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2017 7,219
Valuation in 2018 10,000
Valuation in 2023 20,000
Cost 542,647
579,866

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 542,647 142,781

Investment property was valued on an open market basis on 31 July 2023 by the director .

Crolpia Limited (Registered number: SC205981)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 815,505 818,506

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 139
Taxation and social security 164,570 176,803
Other creditors 6,372 9,744
170,942 186,686

9. 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.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 122,472 118,034

Deferred
tax
£   
Balance at 1 August 2023 118,034
Provided during year 4,438
Balance at 31 July 2024 122,472

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 45 45

12. RESERVES
Fair
value
reserve
£   
At 1 August 2023
and 31 July 2024 374,006

Crolpia Limited (Registered number: SC205981)

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

13. ULTIMATE CONTROLLING PARTY



The company is under the control of the director Dominic Crolla and his wife, who own the entire issued share capital.