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REGISTERED NUMBER: SC745681 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025

FOR

CRAIL AIRFIELD LTD

CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CRAIL AIRFIELD LTD

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025







DIRECTOR: K Mackenzie





REGISTERED OFFICE: Unit 1
Burnhouse Industrial Estate
Whitburn
West Lothian
EH47 0LQ





REGISTERED NUMBER: SC745681 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2025

28.2.25 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 50,000 77,000
Tangible assets 5 4,378 727
54,378 77,727

CURRENT ASSETS
Debtors 6 45,870 11,625
Cash at bank and in hand 11,091 57,344
56,961 68,969
CREDITORS
Amounts falling due within one year 7 18,263 25,797
NET CURRENT ASSETS 38,698 43,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,076

120,899

CREDITORS
Amounts falling due after more than one year 8 (91,739 ) (90,000 )

PROVISIONS FOR LIABILITIES (198 ) (198 )
NET ASSETS 1,139 30,701

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,039 30,601
1,139 30,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 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.

CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2025


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 4 April 2025 and were signed by:





K Mackenzie - Director


CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Crail Airfield 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis. The directors have reviewed the company's financial position, cash flow forecasts and available facilities for a period of at least 12 months from the date of approval of the financial statements.

Based on this review, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.

In making this assessment, the directors considered the potential impact of current economic conditions, trading performance and any material uncertainties that could affect the company's ability to continue as a going concern.

Preparation of consolidated financial statements
The financial statements contain information about Crail Airfield Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Revenue comprises the fair value of the sales of goods and services, net of value added tax, rebates and discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors - are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities
Trade and other creditors - are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was 3 (2023 - 3 ) .

CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 28 February 2025 95,000
AMORTISATION
At 1 October 2023 18,000
Charge for period 27,000
At 28 February 2025 45,000
NET BOOK VALUE
At 28 February 2025 50,000
At 30 September 2023 77,000

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023 793
Additions 6,597
At 28 February 2025 7,390
DEPRECIATION
At 1 October 2023 66
Charge for period 2,946
At 28 February 2025 3,012
NET BOOK VALUE
At 28 February 2025 4,378
At 30 September 2023 727

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 30.9.23
£    £   
Other debtors 45,870 11,625

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 30.9.23
£    £   
Trade creditors 13,220 8,938
Taxation and social security 5,043 15,609
Other creditors - 1,250
18,263 25,797

CRAIL AIRFIELD LTD (REGISTERED NUMBER: SC745681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 28 FEBRUARY 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 30.9.23
£    £   
Amounts owed to group undertakings 91,739 90,000