Company registration number SC542206 (Scotland)
CREO HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
CREO HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CREO HOMES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
206
919
Current assets
Debtors
5
571,107
579,670
Cash at bank and in hand
237
34,146
571,344
613,816
Creditors: amounts falling due within one year
6
(38,916)
(62,084)
Net current assets
532,428
551,732
Total assets less current liabilities
532,634
552,651
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
532,534
552,551
Total equity
532,634
552,651

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 23 April 2026
Riccardo Gallo
Director
Company Registration No. SC542206
CREO HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Creo Homes Limited is a private company limited by shares incorporated in Scotland. The registered office and principal place of business is 77 Dundas Street, Edinburgh, Scotland, EH3 6RS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at legal completion in respect of the total proceeds of building and development. It is measured at the fair value of consideration received and represents the amounts receiv ed for each property, net of discounts and VAT.

Income from management charges is recognised in the period in which it becomes receivable and included within other income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% Straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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 balance sheet 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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

CREO HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable/(receivable) and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2
Employees

The average monthly number of person employed by the company during the year was:

2025
2024
Number
Number
Total
-
0
-
0
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
(6,817)
24,681
Deferred tax
Origination and reversal of timing differences
(79)
(210)
Adjustment in respect of prior periods
1
-
0
Total deferred tax
(78)
(210)
Total tax (credit)/charge
(6,895)
24,471
CREO HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2024 and 31 August 2025
8,017
Depreciation and impairment
At 1 September 2024
7,098
Depreciation charged in the year
713
At 31 August 2025
7,811
Carrying amount
At 31 August 2025
206
At 31 August 2024
919
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
6,817
-
0
Directors' current account
-
1,692
Other debtors
562,793
578,253
569,610
579,945
Deferred tax asset
1,497
1,417
571,107
581,362

Included in other debtors is the sum of £562,313 (202 4 : £576,099) owed by Gallo and Gallo Developments Limited, a company in which Riccardo Gallo is also a director and sole shareholder.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
-
0
24,681
Other taxation and social security
1,200
941
Other creditors
37,716
36,462
38,916
62,084

Included in other creditors is the sum of £36,782 (202 4: £34,812) owed to Creo Interiors Limited, a company jointly controlled by the director of this company.

CREO HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
7
Called up share capital
2025
2024
Ordinary share capital
£
£
Issued and fully paid
1 Ordinary share of £100 each
100
100
8
Controlling party

The company was controlled throughout the current and previous year s by the director by virtue of the fact that he own ed the company's entire issued share capital.

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