Silverfin false false 30/06/2023 01/07/2022 30/06/2023 Mrs K Middleton 26/02/2019 Mr K Middleton 26/02/2019 20 November 2023 The principal activity of the Company during the financial year continued to be that of buying, selling and letting of owned real estate. SC622517 2023-06-30 SC622517 bus:Director1 2023-06-30 SC622517 bus:Director2 2023-06-30 SC622517 2022-06-30 SC622517 core:CurrentFinancialInstruments 2023-06-30 SC622517 core:CurrentFinancialInstruments 2022-06-30 SC622517 core:Non-currentFinancialInstruments 2023-06-30 SC622517 core:Non-currentFinancialInstruments 2022-06-30 SC622517 core:ShareCapital 2023-06-30 SC622517 core:ShareCapital 2022-06-30 SC622517 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC622517 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC622517 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-06-30 SC622517 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-06-30 SC622517 bus:OrdinaryShareClass1 2023-06-30 SC622517 2022-07-01 2023-06-30 SC622517 bus:FilletedAccounts 2022-07-01 2023-06-30 SC622517 bus:SmallEntities 2022-07-01 2023-06-30 SC622517 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC622517 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC622517 bus:Director1 2022-07-01 2023-06-30 SC622517 bus:Director2 2022-07-01 2023-06-30 SC622517 2021-07-01 2022-06-30 SC622517 core:CurrentFinancialInstruments 2022-07-01 2023-06-30 SC622517 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC622517 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC622517 (Scotland)

BINNIE PROPERTIES UK LTD

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

BINNIE PROPERTIES UK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023

Contents

BINNIE PROPERTIES UK LTD

BALANCE SHEET

AS AT 30 JUNE 2023
BINNIE PROPERTIES UK LTD

BALANCE SHEET (continued)

AS AT 30 JUNE 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 337,531 337,531
337,531 337,531
Current assets
Cash at bank and in hand 9,831 7,697
9,831 7,697
Creditors: amounts falling due within one year 4 ( 282,102) ( 118,164)
Net current liabilities (272,271) (110,467)
Total assets less current liabilities 65,260 227,064
Creditors: amounts falling due after more than one year 5 0 ( 177,324)
Net assets 65,260 49,740
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 65,258 49,738
Total shareholders' funds 65,260 49,740

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

Directors' responsibilities:

The financial statements of Binnie Properties UK Ltd (registered number: SC622517) were approved and authorised for issue by the Director on 20 November 2023. They were signed on its behalf by:

Mrs K Middleton
Director
BINNIE PROPERTIES UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
BINNIE PROPERTIES UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

Binnie Properties UK Ltd (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 272 Bath Street, Glasgow, G2 4JR, United Kingdom.

The financial statements have been prepared under the historical cost convention, and to include investment properties and certain items at fair value, 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

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 foreseeable future. The directors have confirmed that the related party will not seek repayment of the loan to the detriment of the company's ability to trade. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable for property rental. Turnover is recognised at point of invoice.

Taxation

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

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2022 337,531
As at 30 June 2023 337,531

Investment property comprises of 1 residential property, including the legal and LBTT fees. The directors have valued the investment property at £337,531 (2022 - £337,531). This is believed to be the fair value of the properties at 30 June 2023.

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 99,461 100,000
Taxation and social security 3,640 3,677
Other creditors 179,001 14,487
282,102 118,164

The above balance in other creditors is secured over specific assets of the company and a floating charge.

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

2023 2022
£ £
Other creditors 0 177,324

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Related party transactions

Other related party transactions

2023 2022
£ £
Entities with control, joint control or significant influence over the company 99,461 100,000