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REGISTERED NUMBER: SC291896 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Cribba Sound Ltd.

Cribba Sound Ltd. (Registered number: SC291896)






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


Cribba Sound Ltd.

Company Information
for the Year Ended 31 July 2024







DIRECTOR: J M Laurenson





REGISTERED OFFICE: Blueshell Mussels Ltd
Farm office
Sparl
Brae
Shetland
ZE2 9QJ





REGISTERED NUMBER: SC291896 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

Cribba Sound Ltd. (Registered number: SC291896)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,378 1,978
Tangible assets 5 138,979 164,142
Investments 6 12,739 12,739
153,096 178,859

CURRENT ASSETS
Stocks 121,406 94,700
Debtors 7 11,720 1,726
Cash at bank 155,189 22,682
288,315 119,108
CREDITORS
Amounts falling due within one year 8 305,444 114,251
NET CURRENT (LIABILITIES)/ASSETS (17,129 ) 4,857
TOTAL ASSETS LESS CURRENT LIABILITIES 135,967 183,716

PROVISIONS FOR LIABILITIES 22,957 16,592
NET ASSETS 113,010 167,124

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 113,008 167,122
SHAREHOLDERS' FUNDS 113,010 167,124

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.

Cribba Sound Ltd. (Registered number: SC291896)

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 7 March 2025 and were signed by:





J M Laurenson - Director


Cribba Sound Ltd. (Registered number: SC291896)

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

1. STATUTORY INFORMATION

Cribba Sound 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.

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.

Licences are being amortised evenly over their estimated useful life of nil years.

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 - 20% on cost

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.

Cribba Sound Ltd. (Registered number: SC291896)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Licences
£   
COST
At 1 August 2023
and 31 July 2024 11,136
AMORTISATION
At 1 August 2023 9,158
Amortisation for year 600
At 31 July 2024 9,758
NET BOOK VALUE
At 31 July 2024 1,378
At 31 July 2023 1,978

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2023
and 31 July 2024 430,000
DEPRECIATION
At 1 August 2023 265,858
Charge for year 25,163
At 31 July 2024 291,021
NET BOOK VALUE
At 31 July 2024 138,979
At 31 July 2023 164,142

Cribba Sound Ltd. (Registered number: SC291896)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 12,739
NET BOOK VALUE
At 31 July 2024 12,739
At 31 July 2023 12,739

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 6,043 -
Other debtors 5,677 1,726
11,720 1,726

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 232,150 -
Other creditors 73,294 114,251
305,444 114,251