Crandale Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC393265 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

Crandale Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Cavanagh

REGISTERED OFFICE:

100 Union Street

Aberdeen

AB10 1QR

REGISTERED NUMBER:

SC393265 (Scotland)

ACCOUNTANTS:

Tawse & Partners

Chartered Accountants

18 North Silver Street

Aberdeen

AB10 1JU

FIXED ASSETS

Tangible assets

5

95,449

13,178

Investment property

6

1,393,718

1,489,167

1,406,896

CURRENT ASSETS

Stocks

13,100

Debtors

7

42,993

25,833

Cash at bank

52,222

119,803

108,315

158,736

CREDITORS

Amounts falling due within one year

8

644,023

686,467

NET CURRENT LIABILITIES

(535,708

)

(527,731

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

953,459

879,165

CREDITORS

Amounts falling due after more than one
year

9

593,570

555,161

NET ASSETS

359,889

324,004

CAPITAL AND RESERVES

Called up share capital

11

2

Retained earnings

359,887

324,002

SHAREHOLDERS' FUNDS

359,889

324,004

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 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.

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 19 September 2025 and were signed by:

M Cavanagh - Director

1.	STATUTORY INFORMATION

Crandale Limited 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Turnover and other income recognition

Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rental Property

Rental Income and property management fees are based on quarterly rental periods, in accordance with property rental agreements.

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% straight line and 10% on reducing balance

Tangible fixed assets are stated at deemed cost less accumulated depreciation and accumulated impairment.

Investment property

Investment property for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred tax is provided on any gains at the rate expected to apply when the property is sold.

Investment properties are revalued at the discretion of the director, Mark Cavanagh, on open market basis.

The fair value of the investment properties as at 31 December 2024 was £1,393,718 (2023- £1,393,718) and an amount of Nil (2023: NIL) has been debited to the Income Statement as a loss on the revaluation of the tangible asset.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss, except to the extent that it relates to items recognised in other comprehensive income or directly to 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.

Deferred tax on revalued investment properties is measured using the rates allowances that apply to the sale of the asset.

Debtor and creditors receivable / payable within one year

Debtor and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

38,151

Additions

96,324

Disposals

(7,332

)

At 31 December 2024

127,143

DEPRECIATION

At 1 January 2024

24,973

Charge for year

14,053

Eliminated on disposal

(7,332

)

At 31 December 2024

31,694

NET BOOK VALUE

At 31 December 2024

95,449

At 31 December 2023

13,178

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,393,718

NET BOOK VALUE

At 31 December 2024

1,393,718

At 31 December 2023

1,393,718

Investment property is not depreciated.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2013

244,473

Valuation in 2014

200,000

Valuation in 2015

(98,091

)

Valuation in 2016

(155,000

)

Valuation in 2017

(191,382

)

Valuation in 2020

(185,931

)

Cost

1,579,649

1,393,718

If the investment property held had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

1,579,649

Investment property was valued on an open market basis on 31 December 2024 by Mark Cavanagh, the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

2,993

833

Other debtors

40,000

25,000

42,993

25,833

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

49,374

Hire purchase contracts

604

-

Trade creditors

26,508

26,700

Taxation and social security

16,183

30,014

Other creditors

551,354

580,379

644,023

686,467

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

519,982

555,161

Hire purchase contracts

73,588

-

593,570

555,161

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

202,574

229,432

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

569,356

604,535

Hire purchase contracts

74,192

-

643,548

604,535

The bank loan is secured against the properties: 12 Abercrombie Court, Prospect Road, Arnhall Business Park, Westhill, Aberdeenshire and 55 School Hill, Aberdeen.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

2

Ordinary

1.00

2