A & G Crolla & Company Limited - Accounts to registrar (filleted) - small 18.2

A & G Crolla & Company Limited - Accounts to registrar (filleted) - small 18.2

A & G CROLLA & COMPANY LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v22.1.0.628 SC500341 Board of Directors 1.1.21 31.12.21 31.12.21 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5003412020-12-31SC5003412021-12-31SC5003412021-01-012021-12-31SC5003412019-12-31SC5003412020-01-012020-12-31SC5003412020-12-31SC500341ns16:Scotland2021-01-012021-12-31SC500341ns15:PoundSterling2021-01-012021-12-31SC500341ns11:Director12021-01-012021-12-31SC500341ns11:PrivateLimitedCompanyLtd2021-01-012021-12-31SC500341ns11:SmallEntities2021-01-012021-12-31SC500341ns11:AuditExemptWithAccountantsReport2021-01-012021-12-31SC500341ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-31SC500341ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-31SC500341ns11:FullAccounts2021-01-012021-12-31SC500341ns11:Director22021-01-012021-12-31SC500341ns11:RegisteredOffice2021-01-012021-12-31SC500341ns6:CurrentFinancialInstruments2021-12-31SC500341ns6:CurrentFinancialInstruments2020-12-31SC500341ns6:Non-currentFinancialInstruments2021-12-31SC500341ns6:Non-currentFinancialInstruments2020-12-31SC500341ns6:ShareCapital2021-12-31SC500341ns6:ShareCapital2020-12-31SC500341ns6:RetainedEarningsAccumulatedLosses2021-12-31SC500341ns6:RetainedEarningsAccumulatedLosses2020-12-31SC500341ns6:CostValuation2020-12-31SC500341ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31SC500341ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31SC500341ns6:Secured2021-12-31SC500341ns6:Secured2020-12-31
REGISTERED NUMBER: SC500341 (Scotland)















Unaudited Financial Statements for the Year Ended 31st December 2021

for

A & G Crolla & Company Limited
McLaughlin Crolla LLP
2nd Floor
77 Hanover Street
Edinburgh
EH2 1EE








A & G Crolla & Company Limited (Registered number: SC500341)

Contents of the Financial Statements
for the Year Ended 31st December 2021










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


A & G Crolla & Company Limited

Company Information
for the Year Ended 31st December 2021







DIRECTORS: Mr A Crolla
Mrs A Crolla





REGISTERED OFFICE: 85 Hanover Street
Edinburgh
EH2 1EE





REGISTERED NUMBER: SC500341 (Scotland)





ACCOUNTANTS: McLaughlin Crolla LLP
2nd Floor
77 Hanover Street
Edinburgh
EH2 1EE
Page 1
A & G Crolla & Company Limited

Report of the Accountants to the Directors of
A & G Crolla & Company 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2021 set out on pages four to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






McLaughlin Crolla LLP
2nd Floor
77 Hanover Street
Edinburgh
EH2 1EE


5th September 2022

This page does not form part of the statutory financial statements

Page 2
A & G Crolla & Company Limited (Registered number: SC500341)

Balance Sheet
31st December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Investments 4 103 103
Investment property 5 2,508,000 2,188,000
2,508,103 2,188,103

CURRENT ASSETS
Debtors 6 40,900 20,578
Cash at bank 285,975 213,688
326,875 234,266
CREDITORS
Amounts falling due within one year 7 132,543 59,185
NET CURRENT ASSETS 194,332 175,081
TOTAL ASSETS LESS CURRENT LIABILITIES 2,702,435 2,363,184

CREDITORS
Amounts falling due after more than one year 8 421,653 189,848
NET ASSETS 2,280,782 2,173,336

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 2,280,679 2,173,233
2,280,782 2,173,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th September 2022 and were signed on its behalf by:



Mr A Crolla - Director


The notes form part of these financial statements

Page 3
A & G Crolla & Company Limited (Registered number: SC500341)

Notes to the Financial Statements
for the Year Ended 31st December 2021


1. STATUTORY INFORMATION

A & G Crolla & Company 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.

2. 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.

Preparation of consolidated financial statements
The financial statements contain information about A & G Crolla & Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Page 4 continued...
A & G Crolla & Company Limited (Registered number: SC500341)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1st January 2021
and 31st December 2021 103
Net book value
At 31st December 2021 103
At 31st December 2020 103

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1st January 2021 2,188,000
Additions 320,000
At 31st December 2021 2,508,000
Net book value
At 31st December 2021 2,508,000
At 31st December 2020 2,188,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 40,900 18,750
Amounts owed by group undertakings - 1,828
40,900 20,578

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Bank loans and overdrafts 26,503 22,088
Trade creditors - 999
Taxation and social security 25,203 18,406
Other creditors 80,837 17,692
132,543 59,185

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/21 31/12/20
£    £   
Bank loans 421,653 174,568
Other creditors - 15,280
421,653 189,848

Page 5 continued...
A & G Crolla & Company Limited (Registered number: SC500341)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31/12/21 31/12/20
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 302,888 118,039

9. SECURED DEBTS

The following secured debts are included within creditors:

31/12/21 31/12/20
£    £   
Bank loans 448,156 -

During the year the company received a further loan for the acquisition of investment property. The loan is repayable in monthly installments and interest is charged at Base plus 4.85%.

The original loan is repayable by monthly installments and interest is charged at Base plus 3.65%.

The loans are secured by a personal bond, first ranking security over property at Lothian Road, Edinburgh and George Street, Edinburgh and a bond and floating charge over whole of the property and undertaking.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mrs A Crolla loaned the company £45,000 for the acquisition of investment property. At the year end, the balance owing to Mrs A Crolla was £44,082.

Page 6