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Crichton Industries Limited

Financial Statements for the Year Ended 30 September 2024






Crichton Industries Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J L Arnold
J C Davies
S E Hanks





REGISTERED OFFICE: Firstone House
Walwyns Castle
Haverfordwest
Pembrokeshire
SA62 3EE





REGISTERED NUMBER: 10043941 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Crichton Industries Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crichton Industries Limited for the year ended 30 September 2024 which comprise the Profit & Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Crichton Industries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crichton Industries Limited and state those matters that we have agreed to state to the Board of Directors of Crichton Industries Limited, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crichton Industries Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Crichton Industries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crichton Industries Limited. You consider that Crichton Industries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Crichton Industries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


Date: .............................................

Crichton Industries Limited (Registered number: 10043941)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 6,685 8,913
Investments 4 1,685,000 3,685,000
Investment property 5 320,464 295,002
2,012,149 3,988,915

CURRENT ASSETS
Debtors 6 2,076,338 106,375
Cash at bank 107,774 261,907
2,184,112 368,282
CREDITORS
Amounts falling due within one year 7 93,965 125,736
NET CURRENT ASSETS 2,090,147 242,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,102,296

4,231,461

PROVISIONS FOR DEFERRED TAX 1,300 1,700
NET ASSETS 4,100,996 4,229,761

CAPITAL AND RESERVES
Called up share capital 6 6
Share premium - 1,934,997
Revaluation reserve 26,910 26,910
Retained earnings 4,074,080 2,267,848
SHAREHOLDERS' FUNDS 4,100,996 4,229,761

Crichton Industries Limited (Registered number: 10043941)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





J L Arnold - Director


Crichton Industries Limited (Registered number: 10043941)

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


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Profit & Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Crichton Industries Limited (Registered number: 10043941)

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


3. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 October 2023
and 30 September 2024 24,333
DEPRECIATION
At 1 October 2023 15,420
Charge for year 2,228
At 30 September 2024 17,648
NET BOOK VALUE
At 30 September 2024 6,685
At 30 September 2023 8,913

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023 3,685,000
Impairments (2,000,000 )
At 30 September 2024 1,685,000
NET BOOK VALUE
At 30 September 2024 1,685,000
At 30 September 2023 3,685,000

Crichton Industries Limited (Registered number: 10043941)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 295,002
Additions 25,462
At 30 September 2024 320,464
NET BOOK VALUE
At 30 September 2024 320,464
At 30 September 2023 295,002

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 4,846
Cost 315,618
320,464

The investment property was revalued on an open market basis on 30 September 2022 by the directors with the assistance of their professional advisors. This value is still deemed appropriate as at 30 September 2024..

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,797 -
Amounts owed by group undertakings 2,074,538 -
Other debtors & prepayments 3 106,375
2,076,338 106,375

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 17,236
Taxes & social security costs 9,870 1,250
Other creditors & accruals 84,095 107,250
93,965 125,736