0 0 Creagh Limited NI049911 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is commercial property investment Digita Accounts Production Advanced 6.30.9574.0 true false true NI049911 2023-10-01 2024-09-30 NI049911 2024-09-30 NI049911 bus:OrdinaryShareClass1 2024-09-30 NI049911 core:RetainedEarningsAccumulatedLosses 2024-09-30 NI049911 core:ShareCapital 2024-09-30 NI049911 core:CurrentFinancialInstruments 2024-09-30 NI049911 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 NI049911 bus:SmallEntities 2023-10-01 2024-09-30 NI049911 bus:Audited 2023-10-01 2024-09-30 NI049911 bus:FilletedAccounts 2023-10-01 2024-09-30 NI049911 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI049911 bus:RegisteredOffice 2023-10-01 2024-09-30 NI049911 bus:Director1 2023-10-01 2024-09-30 NI049911 bus:Director2 2023-10-01 2024-09-30 NI049911 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 NI049911 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI049911 bus:Agent1 2023-10-01 2024-09-30 NI049911 1 2023-10-01 2024-09-30 NI049911 countries:AllCountries 2023-10-01 2024-09-30 NI049911 2023-09-30 NI049911 2022-10-01 2023-09-30 NI049911 2023-09-30 NI049911 bus:OrdinaryShareClass1 2023-09-30 NI049911 core:RetainedEarningsAccumulatedLosses 2023-09-30 NI049911 core:ShareCapital 2023-09-30 NI049911 core:CurrentFinancialInstruments 2023-09-30 NI049911 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI049911

Creagh Limited

Filleted Financial Statements

for the Year Ended 30 September 2024

 

Creagh Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Creagh Limited

Company Information

Directors

Mr Gerard McKeague

Mr Seamus McKeague

Registered office

38 Blackpark Road
Toomebridge
County Antrim
BT41 3SL

Auditors

McKeague Morgan & Company 27 College Gardens
Belfast
BT9 6BS

 

Creagh Limited

(Registration number: NI049911)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

880,000

980,000

Current assets

 

Debtors

5

-

543,975

Cash at bank and in hand

 

1

1

 

1

543,976

Creditors: Amounts falling due within one year

6

(676,255)

(1,665,721)

Net current liabilities

 

(676,254)

(1,121,745)

Total assets less current liabilities

 

203,746

(141,745)

Provisions for liabilities

(109,291)

-

Net assets/(liabilities)

 

94,455

(141,745)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

94,454

(141,746)

Total equity

 

94,455

(141,745)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................

Mr Seamus McKeague
Director

 

Creagh Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
38 Blackpark Road
Toomebridge
County Antrim
BT41 3SL

These financial statements were authorised for issue by the Board on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is supported by its parent company, Creagh Concrete Products Limited.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 June 2025 was Darren McKeown, who signed for and on behalf of McKeague Morgan & Company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Creagh Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is measured using the fair value model and stated at its fair value as at the reporting end date, determined annually by the directors and periodically by external valuers. The surplus or deficit on revaluation is recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Creagh Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 October

980,000

Disposals

(100,000)

At 30 September

880,000

The company's investment property was revalued by independent external valuers Colliers on 19 June 2023 on an open market basis.

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

9

-

543,975

 

-

543,975

 

Creagh Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Corporation tax liability

 

75,458

-

Amounts owed to group undertakings

9

600,797

-

Other creditors

 

-

1,665,721

 

676,255

1,665,721

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

1,665,721

Other borrowings

The company's other loan was denominated in sterling with a nominal interest rate of 9%, and was repaid in full in November 2023. The carrying amount at year end is £Nil (2023 - £1,665,721).

The lenders held a fixed and floating charge over the assets and undertakings of the company, including specific first legal charges over the company's investment property.

9

Related party transactions

The company is exempt from disclosing related party transactions with its subsidiary companies as it is wholly owned within the Creagh Concrete Products Limited group.

 

Creagh Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

10

Parent and ultimate parent undertaking

The company's immediate parent is Creagh Concrete Products Limited, incorporated in N Ireland.

 The most senior parent entity producing publicly available financial statements is Creagh Concrete Products Limited. These financial statements are available upon request from 38 Blackpark Road, Toomebridge, Co. Antrim, BT41 3SL, Northern Ireland.