Creran Marine Ltd 31/03/2026 iXBRL

Company registration number: SC445768

Creran Marine Ltd

Unaudited filleted financial statements

31 March 2026

Creran Marine Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Creran Marine Ltd

Directors and other information


	Directors	Mr H C MacGillivray
		Mrs Linda MacGillivray
		Mr Ewen MacGillivray


	Company number	SC445768


	Registered office	Barcaldine Home Farm
		Barcaldine
		Argyll
		PA37 1SG


	Business address	Barcaldine
		Argyll
		PA37 1SG


	Accountants	Simmers & Co
		Albany Chambers
		Albany Street
		OBAN
		Argyll
		PA34 4AL




	Bankers	Royal Bank of Scotland
		26 George Street
		Oban
		PA34 5SB


	Solicitors	MacArthur Legal
		Boswell House
		Argyll Square
		Oban
		PA34 4BD

Creran Marine Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Creran Marine Ltd

Year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Creran Marine Ltd for the year ended 31 March 2026 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Creran Marine Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Creran Marine Ltd and state those matters that we have agreed to state to the board of directors of Creran Marine Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Creran Marine Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Creran Marine Ltd 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 Creran Marine Ltd. You consider that Creran Marine Ltd 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 Creran Marine Ltd. 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.

Simmers & Co

Chartered Accountants

Albany Chambers

Albany Street

OBAN

Argyll

PA34 4AL

1 September 2026

Creran Marine Ltd

Statement of financial position

31 March 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Tangible assets	5	512,481		525,874
		_______		_______
			512,481		525,874

Current assets
Stocks		17,641		13,250
Debtors	6	99,193		78,971
Cash at bank and in hand		230,742		171,379
		_______		_______
		347,576		263,600
Creditors: amounts falling due
within one year	7	( 353,854)		( 337,046)
		_______		_______
Net current liabilities			( 6,278)		( 73,446)
			_______		_______
Total assets less current liabilities			506,203		452,428

Creditors: amounts falling due
after more than one year	8		( 221,622)		( 247,032)

Provisions for liabilities			( 66,042)		( 66,116)

			_______		_______
Net assets			218,539		139,280
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			218,439		139,180
			_______		_______
Shareholders funds			218,539		139,280
			_______		_______

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 01 September 2026 , and are signed on behalf of the board by:

Mr Ewen MacGillivray

Director

Company registration number: SC445768

Creran Marine Ltd

Notes to the financial statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Barcaldine Home Farm, Barcaldine, Argyll, PA37 1SG.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Share-based payments

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satsfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2025: 6 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2025	418,626	576,434	15,882	83,959	1,094,901
Additions	-	87,412	2,527	39,995	129,934
Disposals	-	( 33,886)	( 2,364)	( 35,565)	( 71,815)
	_______	_______	_______	_______	_______
At 31 March 2026	418,626	629,960	16,045	88,389	1,153,020
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2025	148,517	403,426	9,193	7,891	569,027
Charge for the year	26,633	52,030	2,217	19,073	99,953
Disposals	-	( 17,533)	( 2,017)	( 8,891)	( 28,441)
	_______	_______	_______	_______	_______
At 31 March 2026	175,150	437,923	9,393	18,073	640,539
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2026	243,476	192,037	6,652	70,316	512,481
	_______	_______	_______	_______	_______
At 31 March 2025	270,109	173,008	6,689	76,068	525,874
	_______	_______	_______	_______	_______

6. Debtors

	2026	2025
	£	£
Trade debtors	91,106	70,688
Other debtors	8,087	8,283
	_______	_______
	99,193	78,971
	_______	_______

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	28,925	24,785
Trade creditors	64,913	3,297
Corporation tax	73,243	32,013
Social security and other taxes	12,184	30,060
Other creditors	174,589	246,891
	_______	_______
	353,854	337,046
	_______	_______

8. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	203,733	231,375
Other creditors	17,889	15,657
	_______	_______
	221,622	247,032
	_______	_______

9. Controlling party

The company is controlled by Mr & Mrs H MacGillivray .