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REGISTERED NUMBER: SC102538 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Blythswood Group Limited

Blythswood Group Limited (Registered number: SC102538)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Blythswood Group Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: A J Watt FRICS
Mrs I R S Watt





SECRETARY: A J Watt FRICS





REGISTERED OFFICE: 160 West George Street
Glasgow
G2 2HQ





REGISTERED NUMBER: SC102538 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Blythswood Group Limited (Registered number: SC102538)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 574 816
Investments 5 36,850 36,850
Investment property 6 800,000 740,000
837,424 777,666

CURRENT ASSETS
Debtors 7 12,796 2,196
Cash at bank 25,628 41,614
38,424 43,810
CREDITORS
Amounts falling due within one year 8 370,336 385,813
NET CURRENT LIABILITIES (331,912 ) (342,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

505,512

435,663

PROVISIONS FOR LIABILITIES 40,779 24,629
NET ASSETS 464,733 411,034

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Fair value reserve 10 (478,811 ) (548,020 )
Capital redemption reserve 250,000 250,000
Retained earnings 443,544 459,054
SHAREHOLDERS' FUNDS 464,733 411,034

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 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.

Blythswood Group Limited (Registered number: SC102538)

Balance Sheet - continued
31 March 2022


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 29 August 2022 and were signed on its behalf by:





A J Watt FRICS - Director


Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Blythswood Group 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Gross rents received and receivable from properties are included in the profit and loss account. Provision is made for any rents due not considered recoverable.

Tangible fixed assets
Tangible fixed assets are stated at their purchase price, together with any incidental expenses of acquisition.

Provision for depreciation is made so as to write off the cost of tangible fixed assets less their residual value on a straight line basis over the expected useful economic life to the entity of the asset concerned or, if held under a finance lease, over the lease term, whichever is the shorter. Depreciation is charged over the following periods:

Fixtures & Fittings - 15% on cost


No depreciation is provided in respect of investment properties. The directors consider that this accounting
policy (which represents a departure from the statutory accounting principles) is necessary to provide a true and fair view.

Investment property
Investment properties are included at fair value. Any surplus or deficit is recognised within the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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

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

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.


Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021
and 31 March 2022 3,926
DEPRECIATION
At 1 April 2021 3,110
Charge for year 242
At 31 March 2022 3,352
NET BOOK VALUE
At 31 March 2022 574
At 31 March 2021 816

Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2021
and 31 March 2022 68,367
PROVISIONS
At 1 April 2021
and 31 March 2022 31,517
NET BOOK VALUE
At 31 March 2022 36,850
At 31 March 2021 36,850

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021 740,000
Revaluations 60,000
At 31 March 2022 800,000
NET BOOK VALUE
At 31 March 2022 800,000
At 31 March 2021 740,000

The investment properties were valued on a fair value basis on 31 March 2022 by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Other debtors 12,796 2,196

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 328,710 344,789
Taxation and social security 2,831 1,386
Other creditors 38,795 39,638
370,336 385,813

Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 328,710 344,789

The bank loan is secured by standard securities over the investment properties owned by the company and by a floating charge.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2021 (548,020 )
Investment property
revaluation reclassification 69,209

At 31 March 2022 (478,811 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
A J Watt FRICS and Mrs I R S Watt
Balance outstanding at start of year 406 17,331
Amounts advanced 10,000 -
Amounts repaid - (16,925 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,406 406

The maximum balance outstanding on the above loan during the year was £10,406 (2021 £17,331). The above loan is interest free and has no fixed repayment date.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.