IRIS Accounts Production v22.1.4.3 SC560096 director 1.4.21 31.3.22 31.3.22 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5600962021-03-31SC5600962022-03-31SC5600962021-04-012022-03-31SC5600962020-03-31SC5600962020-04-012021-03-31SC5600962021-03-31SC560096ns16:Scotland2021-04-012022-03-31SC560096ns15:PoundSterling2021-04-012022-03-31SC560096ns11:Director12021-04-012022-03-31SC560096ns11:PrivateLimitedCompanyLtd2021-04-012022-03-31SC560096ns11:SmallEntities2021-04-012022-03-31SC560096ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-31SC560096ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-31SC560096ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-31SC560096ns11:FullAccounts2021-04-012022-03-31SC560096ns11:RegisteredOffice2021-04-012022-03-31SC560096ns6:CurrentFinancialInstruments2022-03-31SC560096ns6:CurrentFinancialInstruments2021-03-31SC560096ns6:ShareCapital2022-03-31SC560096ns6:ShareCapital2021-03-31SC560096ns6:RetainedEarningsAccumulatedLosses2022-03-31SC560096ns6:RetainedEarningsAccumulatedLosses2021-03-31
REGISTERED NUMBER: SC560096 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

BROADMOSS PROPERTIES LIMITED

BROADMOSS PROPERTIES LIMITED (REGISTERED NUMBER: SC560096)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


BROADMOSS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: Duncan Welsh



REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT



BUSINESS ADDRESS: West Broadmoss Farm
Fenwick
Ayrshire
KA3 6BD



REGISTERED NUMBER: SC560096 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Santander UK plc
Bridle Road
Bootle
Merseyside
L30 4GB

BROADMOSS PROPERTIES LIMITED (REGISTERED NUMBER: SC560096)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 790,660 790,660

CURRENT ASSETS
Debtors 5 - 750
Cash at bank 101,855 71,895
101,855 72,645
CREDITORS
Amounts falling due within one year 6 781,941 776,900
NET CURRENT LIABILITIES (680,086 ) (704,255 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,574

86,405

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 110,474 86,305
110,574 86,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 2 June 2022 and were signed by:





Duncan Welsh - Director


BROADMOSS PROPERTIES LIMITED (REGISTERED NUMBER: SC560096)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Broadmoss Properties 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. 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.

In common with most businesses the company is facing potential issues in respect of the COVID-19 pandemic. This is an ongoing situation and the company is adopting a strategy to manage the ever changing situation as effectively as possible.

The director is satisfied that these events do not affect the company's ability to continue as a going concern and this basis is appropriate for the preparation of the accounts.

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

Rendering of services
Turnover from the rendering of services, namely the provision of property rental, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Investment property
Investment properties are valued at fair value at the statement of financial position date. Any changes in fair value are recognised in the income statement.

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


BROADMOSS PROPERTIES LIMITED (REGISTERED NUMBER: SC560096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021
and 31 March 2022 790,660
NET BOOK VALUE
At 31 March 2022 790,660
At 31 March 2021 790,660

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Prepayments and accrued income - 750

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 53 501
Corporation tax 5,669 4,396
Director's loan 765,103 760,903
Accrued charges 11,116 11,100
781,941 776,900

BROADMOSS PROPERTIES LIMITED (REGISTERED NUMBER: SC560096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


7. RELATED PARTY DISCLOSURES

During the year, the company received an interest free loan from the director amounting to £765,103 (2021 : £760,903).