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REGISTERED NUMBER: SC173441 (Scotland)

Financial Statements for the Year Ended 31 August 2024

for

Croftnest Limited

Croftnest Limited (Registered number: SC173441)

Contents of the Financial Statements

for the Year Ended 31 August 2024

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

Croftnest Limited (Registered number: SC173441)

Balance Sheet

31 August 2024

| 31.8.24 |  | 31.8.23

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | - |  |

Investment property | 5 | 431,500 |  | 431,500 |  |

431,500 |  | 431,500 |  |

CURRENT ASSETS

Debtors | 6 | - |  | 4,000 |  |

Cash at bank | 10,383 |  | 9,991 |  |

10,383 |  | 13,991 |  |

CREDITORS

Amounts falling due within one year | 7 | (215,192 | ) | (220,545 | ) |

NET CURRENT LIABILITIES | (204,809 | ) | (206,554 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 226,691 |  | 224,946 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (3,500 | ) | (4,186 | ) |

NET ASSETS | 223,191 |  | 220,760 |  |

CAPITAL AND RESERVES

Called up share capital | 30,002 |  | 30,002 |  |

Revaluation reserve | 10 | 3,077 |  | 3,077 |  |

Retained earnings | 190,112 |  | 187,681 |  |

SHAREHOLDERS' FUNDS | 223,191 |  | 220,760 |  |

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

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

Croftnest Limited (Registered number: SC173441)

Balance Sheet - continued

31 August 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 Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:

Mr H M Kujawa - Director

Croftnest Limited (Registered number: SC173441)

Notes to the Financial Statements

for the Year Ended 31 August 2024

1. | STATUTORY INFORMATION

| Croftness Limited is a private company, limited by shares, domiciled in Scotland, registration number

| SC173441. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Scotland, FK3 8WX.

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.

| Tangible fixed assets and depreciation

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

| Plant and machinery etc | - | 33% on reducing balance

| Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

| The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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. | EMPLOYEES AND DIRECTORS

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

Croftnest Limited (Registered number: SC173441)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 September 2023 | 1,900 |  |

| Disposals | (1,900 | ) |

| At 31 August 2024 | - |  |

| DEPRECIATION

| At 1 September 2023 | 1,900 |  |

| Eliminated on disposal | (1,900 | ) |

| At 31 August 2024 | - |  |

| NET BOOK VALUE

| At 31 August 2024 | - |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 September 2023

| and 31 August 2024 | 431,500 |  |

| NET BOOK VALUE

| At 31 August 2024 | 431,500 |  |

| At 31 August 2023 | 431,500 |  |

| The Directors believe this remains a reasonable valuation of the property and have not obtained a more recent valuation.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.8.24 |  | 31.8.23

£ | £ |

| Other debtors | - |  | 4,000 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.8.24 |  | 31.8.23

£ | £ |

| Bank loans and overdrafts | 714 |  | 743 |  |

| Taxation and social security | 629 |  | 453 |  |

| Other creditors | 213,849 |  | 219,349 |  |

215,192 |  | 220,545 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.8.24 |  | 31.8.23

£ | £ |

| Bank loans | 3,500 |  | 4,186 |  |

Croftnest Limited (Registered number: SC173441)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

| 31.8.24 |  | 31.8.23

£ | £ |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans over 5 years | 644 |  | 1,020 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.8.24 |  | 31.8.23

£ | £ |

| Director Loan Account | 190,000 |  | 190,000 |  |

| Directors' loans are secured by standard security over the property.

10. | RESERVES

| Revaluation

| reserve

£ |

| At 1 September 2023

| and 31 August 2024 | 3,077 |  |

11. | RELATED PARTY DISCLOSURES

| The company is renting a property to the directors at market value. The rental in the year was £12,000 (2023: £12,000).