Silverfin false 30/04/2023 01/05/2022 30/04/2023 J C Mackessack-Leitch 01/05/2001 14 November 2023 The principal activity of the Company continues to be that of letting property. SC030114 2023-04-30 SC030114 bus:Director1 2023-04-30 SC030114 2022-04-30 SC030114 core:CurrentFinancialInstruments 2023-04-30 SC030114 core:CurrentFinancialInstruments 2022-04-30 SC030114 core:Non-currentFinancialInstruments 2023-04-30 SC030114 core:Non-currentFinancialInstruments 2022-04-30 SC030114 core:ShareCapital 2023-04-30 SC030114 core:ShareCapital 2022-04-30 SC030114 core:CapitalRedemptionReserve 2023-04-30 SC030114 core:CapitalRedemptionReserve 2022-04-30 SC030114 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC030114 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC030114 core:LandBuildings 2022-04-30 SC030114 core:PlantMachinery 2022-04-30 SC030114 core:LandBuildings 2023-04-30 SC030114 core:PlantMachinery 2023-04-30 SC030114 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 SC030114 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-04-30 SC030114 bus:OrdinaryShareClass1 2023-04-30 SC030114 2022-05-01 2023-04-30 SC030114 bus:FullAccounts 2022-05-01 2023-04-30 SC030114 bus:SmallEntities 2022-05-01 2023-04-30 SC030114 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC030114 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC030114 bus:Director1 2022-05-01 2023-04-30 SC030114 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 SC030114 core:PlantMachinery 2022-05-01 2023-04-30 SC030114 2021-05-01 2022-04-30 SC030114 core:LandBuildings 2022-05-01 2023-04-30 SC030114 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 SC030114 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC030114 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC030114 (Scotland)

BRUMLEY BRAE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

BRUMLEY BRAE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

BRUMLEY BRAE LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023
BRUMLEY BRAE LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,053 7,530
Investment property 4 300,205 300,755
307,258 308,285
Current assets
Debtors 5 28,680 28,680
Cash at bank and in hand 56,620 63,162
85,300 91,842
Creditors: amounts falling due within one year 6 ( 135,397) ( 122,821)
Net current liabilities (50,097) (30,979)
Total assets less current liabilities 257,161 277,306
Creditors: amounts falling due after more than one year 7 ( 100) ( 100)
Net assets 257,061 277,206
Capital and reserves
Called-up share capital 8 1,300 1,300
Capital redemption reserve 3,700 3,700
Profit and loss account 252,061 272,206
Total shareholders' funds 257,061 277,206

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Brumley Brae Limited (registered number: SC030114) were approved and authorised for issue by the Director on 14 November 2023. They were signed on its behalf by:

J C Mackessack-Leitch
Director
BRUMLEY BRAE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
BRUMLEY BRAE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Brumley Brae Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Brumley Brae, Elgin, Moray, IV30 5PP, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable from the letting of rental properties.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 15 % reducing balance
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 May 2022 11,134 3,250 14,384
At 30 April 2023 11,134 3,250 14,384
Accumulated depreciation
At 01 May 2022 5,301 1,553 6,854
Charge for the financial year 223 254 477
At 30 April 2023 5,524 1,807 7,331
Net book value
At 30 April 2023 5,610 1,443 7,053
At 30 April 2022 5,833 1,697 7,530

4. Investment property

Investment property
£
Valuation
As at 01 May 2022 300,755
Disposals (550)
As at 30 April 2023 300,205

5. Debtors

2023 2022
£ £
Amounts owed by related parties 28,480 28,480
Other debtors 200 200
28,680 28,680

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 ( 367)
Amounts owed to related parties 27,990 27,990
Other creditors 107,407 95,198
135,397 122,821

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 100 100

Other creditors are represented by preference shares classed as a financial liability.

The preference shares are redeemable at par on the earliest of the following dates:

(i) the date of the shareholder's death, or

(ii) the date on which the shareholder ceases to be a director of the company, or

(iii) the date sixty days after the shareholder has given notice in writing to the company secretary calling for that shareholder's shares to be redeemed.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,300 Ordinary shares of £ 1.00 each 1,300 1,300

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amounts owed to related parties (27,990) (27,990)
Amounts owed by related parties 28,480 28,480

The above loans are unsecured, interest free and have no fixed terms of repayment.

Transactions with the entity's director

2023 2022
£ £
Amounts owed to Key management personnel (13,051) (584)

The above loan is interest free and has no fixed terms of repayment.