IRIS Accounts Production v22.1.4.3 SC611808 Board of Directors Board of Directors 1.12.20 30.11.21 30.11.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC6118082020-11-30SC6118082021-11-30SC6118082020-12-012021-11-30SC6118082019-11-30SC6118082019-12-012020-11-30SC6118082020-11-30SC611808ns16:Scotland2020-12-012021-11-30SC611808ns15:PoundSterling2020-12-012021-11-30SC611808ns11:Director12020-12-012021-11-30SC611808ns11:Director22020-12-012021-11-30SC611808ns11:PrivateLimitedCompanyLtd2020-12-012021-11-30SC611808ns11:SmallEntities2020-12-012021-11-30SC611808ns11:AuditExempt-NoAccountantsReport2020-12-012021-11-30SC611808ns11:SmallCompaniesRegimeForDirectorsReport2020-12-012021-11-30SC611808ns11:SmallCompaniesRegimeForAccounts2020-12-012021-11-30SC611808ns11:FullAccounts2020-12-012021-11-30SC611808ns11:RegisteredOffice2020-12-012021-11-30SC611808ns6:CurrentFinancialInstruments2021-11-30SC611808ns6:CurrentFinancialInstruments2020-11-30SC611808ns6:ShareCapital2021-11-30SC611808ns6:ShareCapital2020-11-30SC611808ns6:FurtherSpecificReserve3ComponentTotalEquity2021-11-30SC611808ns6:FurtherSpecificReserve3ComponentTotalEquity2020-11-30SC611808ns6:RetainedEarningsAccumulatedLosses2021-11-30SC611808ns6:RetainedEarningsAccumulatedLosses2020-11-30SC611808ns6:PlantMachinery2020-12-012021-11-30SC611808ns6:PlantMachinery2020-11-30SC611808ns6:PlantMachinery2021-11-30SC611808ns6:PlantMachinery2020-11-30SC611808ns6:CostValuation2020-11-30SC611808ns6:RevaluationsIncreaseDecreaseInInvestments2021-11-30SC611808ns6:CostValuation2021-11-30SC611808ns6:WithinOneYearns6:CurrentFinancialInstruments2021-11-30SC611808ns6:WithinOneYearns6:CurrentFinancialInstruments2020-11-30SC611808ns6:CurrentFinancialInstruments2020-12-012021-11-30SC611808ns6:FurtherSpecificReserve3ComponentTotalEquity2020-11-30
REGISTERED NUMBER: SC611808 (Scotland)




















Brucerae Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2021






Brucerae Ltd (Registered number: SC611808)






Contents of the Financial Statements
for the Year Ended 30 November 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brucerae Ltd

Company Information
for the Year Ended 30 November 2021







DIRECTORS: Mr C G Rae
Mrs E L Rae



REGISTERED OFFICE: 110b St Stephen Street
Edinburgh
EH3 5AQ



REGISTERED NUMBER: SC611808 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
43 Comely Bank
Edinburgh
EH4 1AF

Brucerae Ltd (Registered number: SC611808)

Balance Sheet
30 November 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,742 2,244
Investments 5 3,708 4,613
7,450 6,857

CURRENT ASSETS
Debtors 6 37,022 70,304
Cash at bank and in hand 111,536 61,600
148,558 131,904
CREDITORS
Amounts falling due within one year 7 53,301 65,390
NET CURRENT ASSETS 95,257 66,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,707

73,371

PROVISIONS FOR LIABILITIES 508 1,159
NET ASSETS 102,199 72,212

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 2,999 3,731
Retained earnings 99,100 68,381
SHAREHOLDERS' FUNDS 102,199 72,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Brucerae Ltd (Registered number: SC611808)

Balance Sheet - continued
30 November 2021


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 4 August 2022 and were signed on its behalf by:




Mr C G Rae - Director



Mrs E L Rae - Director


Brucerae Ltd (Registered number: SC611808)

Notes to the Financial Statements
for the Year Ended 30 November 2021

1. STATUTORY INFORMATION

Brucerae Ltd 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 as modified by the revaluation of certain assets.

The directors going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these 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.

Turnover represents revenue from provision of property investment and management services, exclusive of value added tax. Revenue is recognised on the point of completion of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at varying rates on cost

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


Brucerae Ltd (Registered number: SC611808)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in shares are included at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

Brucerae Ltd (Registered number: SC611808)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2020 5,229
Additions 3,499
At 30 November 2021 8,728
DEPRECIATION
At 1 December 2020 2,985
Charge for year 2,001
At 30 November 2021 4,986
NET BOOK VALUE
At 30 November 2021 3,742
At 30 November 2020 2,244

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 December 2020 4,613
Revaluations (905 )
At 30 November 2021 3,708
NET BOOK VALUE
At 30 November 2021 3,708
At 30 November 2020 4,613

Cost or valuation at 30 November 2021 is represented by:

Other
investments
£   
Valuation in 2020 4,606
Valuation in 2021 (905 )
Cost 7
3,708

Brucerae Ltd (Registered number: SC611808)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

5. FIXED ASSET INVESTMENTS - continued

The investment in shares were valued by the directors on 30 November 2021 based on market value on http://www.londonstockexchange.com.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 37,022 70,304

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 2,818 5,492
Taxation and social security 45,963 53,541
Other creditors 4,520 6,357
53,301 65,390

The directors' current accounts are unsecured, interest free and has no fixed repayment period.

8. LEASING AGREEMENTS
The company has minimum lease payments under non-cancellable operating leases of totalling £20,990 (2020: £40,230).

9. RESERVES
Fair
value
reserve
£   
At 1 December 2020 3,731
Investment shares revaluation (904 )
Transfer in year 172

At 30 November 2021 2,999

The fair value reserve represents net revaluation surplus on investment shares that is not
readily distributable as realised earnings.