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REGISTERED NUMBER: SC700808 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 July 2023

for

BLG Property Investments Ltd

BLG Property Investments Ltd (Registered number: SC700808)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

BLG Property Investments Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTORS: B Gray
Mrs L J Gray





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC700808 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

BLG Property Investments Ltd (Registered number: SC700808)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 894 -
Investment property 5 1,414,000 665,554
1,414,894 665,554

CURRENT ASSETS
Stocks 104,655 -
Debtors 6 37,499 1,720
Cash at bank 7,149 2,418
149,303 4,138
CREDITORS
Amounts falling due within one year 7 637,698 231,028
NET CURRENT LIABILITIES (488,395 ) (226,890 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

926,499

438,664

CREDITORS
Amounts falling due after more than one
year

8

(855,913

)

(482,562

)

PROVISIONS FOR LIABILITIES 10 (13,620 ) -
NET ASSETS/(LIABILITIES) 56,966 (43,898 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 180,582 -
Retained earnings (123,716 ) (43,998 )
SHAREHOLDERS' FUNDS 56,966 (43,898 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

BLG Property Investments Ltd (Registered number: SC700808)

Balance Sheet - continued
31 July 2023


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 14 November 2023 and were signed on its behalf by:





B Gray - Director


BLG Property Investments Ltd (Registered number: SC700808)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

BLG Property Investments 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.

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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the director has undertaken to provide financial support to the company through the directors loan account.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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.

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.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.

BLG Property Investments Ltd (Registered number: SC700808)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,118
At 31 July 2023 1,118
DEPRECIATION
Charge for year 224
At 31 July 2023 224
NET BOOK VALUE
At 31 July 2023 894

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 665,554
Additions 554,414
Revaluations 194,032
At 31 July 2023 1,414,000
NET BOOK VALUE
At 31 July 2023 1,414,000
At 31 July 2022 665,554

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 1,414,000

BLG Property Investments Ltd (Registered number: SC700808)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

5. INVESTMENT PROPERTY - continued

Investment property was valued on fair value basis on 31 July 2023 by the directors. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 37,499 1,720

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 290,425 135,100
Other creditors 347,273 95,928
637,698 231,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 855,913 482,562

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 1,146,338 617,662

Paragon Bank PLC hold the following securities:
1. 22 Mayfield Gardens, Aberdeen, AB15 7YZ.

Lendinvest Security Trustees Limited hold the following securities:
1. 136 Bankhead Road, Bucksburn, Aberdeen, AB21 9EB.
2. 9 Mill Lane, Montrose, DD10 8BX.
3. Floating charge covers all the property or undertaking of the company.

Together Commercial Finance Limited hold the following securities:
1. 21 Ann Street, Stonehaven, AB39 2EN.
2. 33 India Street, Montrose, DD10 8PN and 24 India Lane, Montrose, DD10 8PN.

Paratus AMC Limited hold the following securities:
1. 4 India Lane, Montrose.

Shawbrook Bank hold the following securities:
1. 43E Union Street, Montrose, DD10 8PZ.
2. 6K Strathmore Place, Montrose, DD10 8LQ.

BLG Property Investments Ltd (Registered number: SC700808)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

10. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 13,620 -

Deferred
tax
£   
Provided during year 13,620
Balance at 31 July 2023 13,620

11. RESERVES
Fair
value
reserve
£   
Transfer to fair value reserve 194,032
Deferred tax on revaluation (13,450 )

At 31 July 2023 180,582

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
BLG Property Investments Ltd

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BLG Property Investments Ltd for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of BLG Property Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BLG Property Investments Ltd and state those matters that we have agreed to state to the Board of Directors of BLG Property Investments Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that BLG Property Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BLG Property Investments Ltd. You consider that BLG Property Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of BLG Property Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


14 November 2023