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COMPANY REGISTRATION NUMBER: SC261248
Burnbrae Holdings Limited
Filleted Unaudited Abridged Financial Statements
For the year ended
31 December 2021
Burnbrae Holdings Limited
Abridged Financial Statements
Year ended 31st December 2021
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
2
Burnbrae Holdings Limited
Abridged Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Investments
5
1
1
Creditors: amounts falling due within one year
125
125
----
----
Net current liabilities
125
125
----
----
Total assets less current liabilities
( 124)
( 124)
----
----
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 125)
( 125)
----
----
Shareholder deficit
( 124)
( 124)
----
----
These abridged 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 abridged statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31st December 2021 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31st December 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 13 September 2022 , and are signed on behalf of the board by:
Mrs D Law
Director
Company registration number: SC261248
Burnbrae Holdings Limited
Notes to the Abridged Financial Statements
Year ended 31st December 2021
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Mechanics Workshop, New Lanark Mills, Lanark, ML11 9DB, Scotland.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is reliant on funding from the director to provide working capital. The director has indicated that this funding will continue and therefore the accounts are prepared on the going concern basis.
Income statement
The entity is dormant as defined by section 1169 of the Companies Act 2006. The entity received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders' funds during the current year or prior year.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Investments are measured at cost less impairment. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employees
The average number of persons employed by the company during the year, including the director, amounted to 1 (2020: 1).
5. Investments
£
Cost
At 1st January 2021 and 31st December 2021
1
----
Impairment
At 1st January 2021 and 31st December 2021
----
Carrying amount
At 31st December 2021
1
----
At 31st December 2020
1
----
6. Director's advances, credits and guarantees
The director's loan account was not in debit at any time during the year