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Unaudited Financial Statements for the Year Ended 31 December 2024

for

Creegan Properties Limited

Creegan Properties Limited (Registered number: 01156266)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Creegan Properties Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J A Creegan
Mrs P J Creegan
A J Creegan





SECRETARY: Mrs P J Creegan





REGISTERED OFFICE: 41 Malden Way
New Malden
Surrey
KT3 6EB





REGISTERED NUMBER: 01156266 (England and Wales)





ACCOUNTANTS: Peter Upton
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

Creegan Properties Limited (Registered number: 01156266)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 863,134 865,845

CURRENT ASSETS
Debtors 4 - 1,050
Cash at bank 405,263 229,774
405,263 230,824
CREDITORS
Amounts falling due within one year 5 404,030 222,005
NET CURRENT ASSETS 1,233 8,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

864,367

874,664

PROVISIONS FOR LIABILITIES 6 71,275 71,457
NET ASSETS 793,092 803,207

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 390,617 390,617
Retained earnings 8 402,375 412,490
SHAREHOLDERS' FUNDS 793,092 803,207

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

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

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 7 April 2025 and were signed on its behalf by:





J A Creegan - Director


Creegan Properties Limited (Registered number: 01156266)

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

1. STATUTORY INFORMATION

Creegan Properties Limited is a private company, limited by shares , registered in England and Wales. 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.
Plant and machinery etc - 25% on reducing balance

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. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 855,000 53,981 908,981
DEPRECIATION
At 1 January 2024 - 43,136 43,136
Charge for year - 2,711 2,711
At 31 December 2024 - 45,847 45,847
NET BOOK VALUE
At 31 December 2024 855,000 8,134 863,134
At 31 December 2023 855,000 10,845 865,845

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

Creegan Properties Limited (Registered number: 01156266)

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

3. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2012 145,000 - 145,000
Valuation in 2017 240,000 - 240,000
Cost 470,000 53,981 523,981
855,000 53,981 908,981

If freehold/leasehold properties had not been revalued they would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 660,000 660,000

Value of land in freehold land and buildings 100,000 100,000

Freehold/leasehold properties were valued on an open market basis basis on 31 December 2022 by the directors .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 1,050

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed to participating interests 391,282 207,822
Tax 3,484 5,257
Other creditors 4,464 4,126
Accrued expenses 4,800 4,800
404,030 222,005

6. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 71,275 71,457

Deferred
tax
£   
Balance at 1 January 2024 71,457
Provided during year (182 )
Deferred tax
Balance at 31 December 2024 71,275

Creegan Properties Limited (Registered number: 01156266)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 ordinary £1 100 100

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2024 412,490 390,617 803,107
Profit for the year 13,885 13,885
Dividends (24,000 ) (24,000 )
At 31 December 2024 402,375 390,617 792,992

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors .