ACCOUNTS - Final Accounts

Registered number: SC493722

CRAIGSCO LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


CRAIGSCO LIMITED

COMPANY INFORMATION

Directors	Mr J A Craig
	Mrs M Craig


Registered number	SC493722


Registered office	19 Kinloch Drive
	Glenrothes
	Fife
	KY7 4DD


Accountants	EQ Accountants Limited
	Chartered Accountants
	Pentland House
	Saltire Centre
	Glenrothes
	Fife
	KY6 2AH


CRAIGSCO LIMITED REGISTERED NUMBER:SC493722

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
		£		£

Fixed assets
Investment property	4		2,812,076		2,812,076
			2,812,076		2,812,076
Current assets
Debtors: amounts falling due within one year		-		462
Bank and cash balances		136,073		88,657
		136,073		89,119
Creditors: amounts falling due within one year	6	(2,414,585)		(2,410,610)
Net current liabilities			(2,278,512)		(2,321,491)
Total assets less current liabilities			533,564		490,585

Net assets			533,564		490,585

Capital and reserves
Called up share capital	7	110	110
Profit and loss account		533,454	490,475
		533,564	490,585

Page 1


CRAIGSCO LIMITED REGISTERED NUMBER:SC493722

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.

Mr J A Craig

Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2


CRAIGSCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

The Company is limited by shares and incorporated in Scotland. The registered office address is 19 Kinloch Drive, Glenrothes, Fife, KY7 4DD.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


CRAIGSCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

2.6

Investment properties

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 4


CRAIGSCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	2,812,076
	At 31 March 2025	2,812,076

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Debtors

					2025	2024
					£	£


Prepayments and accrued income	-	462

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other taxation and social security	10,921	12,954
Other creditors	2,400,784	2,395,156
Accruals and deferred income	2,880	2,500
	2,414,585	2,410,610

Page 5


CRAIGSCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary A share of £1.00	1	1
1 (2024 - 1) Ordinary B share of £1.00	1	1
12 (2024 - 12) Ordinary C shares of £1.00 each	12	12
12 (2024 - 12) Ordinary D shares of £1.00 each	12	12
12 (2024 - 12) Ordinary E shares of £1.00 each	12	12
12 (2024 - 12) Ordinary F shares of £1.00 each	12	12
12 (2024 - 12) Ordinary G shares of £1.00 each	12	12
12 (2024 - 12) Ordinary H shares of £1.00 each	12	12
12 (2024 - 12) Ordinary I shares of £1.00 each	12	12
12 (2024 - 12) Ordinary J shares of £1.00 each	12	12
12 (2024 - 12) Ordinary K shares of £1.00 each	12	12

	110	110

8.	Related party transactions
	Included within creditors due within one year, are loans due to the directors' family members of £2,400,784 (2024 - £2,395,156). The loans are interest free and there are no fixed repayment terms.

Page 6