Silverfin false 28/02/2023 01/03/2022 28/02/2023 C M Di Ciacca 18/10/1995 S M Di Ciacca 01/10/2019 S Di Ciacca Tana 23/06/2014 27 November 2023 The principal activity of the company continued to be that of property letting. SC161097 2023-02-28 SC161097 bus:Director1 2023-02-28 SC161097 bus:Director2 2023-02-28 SC161097 bus:Director3 2023-02-28 SC161097 2022-02-28 SC161097 core:CurrentFinancialInstruments 2023-02-28 SC161097 core:CurrentFinancialInstruments 2022-02-28 SC161097 core:Non-currentFinancialInstruments 2023-02-28 SC161097 core:Non-currentFinancialInstruments 2022-02-28 SC161097 core:ShareCapital 2023-02-28 SC161097 core:ShareCapital 2022-02-28 SC161097 core:SharePremium 2023-02-28 SC161097 core:SharePremium 2022-02-28 SC161097 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC161097 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC161097 core:FurnitureFittings 2022-02-28 SC161097 core:FurnitureFittings 2023-02-28 SC161097 core:CostValuation 2022-02-28 SC161097 core:CostValuation 2023-02-28 SC161097 core:ProvisionsForImpairmentInvestments 2022-02-28 SC161097 core:ProvisionsForImpairmentInvestments 2023-02-28 SC161097 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-02-28 SC161097 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-02-28 SC161097 bus:OrdinaryShareClass1 2023-02-28 SC161097 2022-03-01 2023-02-28 SC161097 bus:FullAccounts 2022-03-01 2023-02-28 SC161097 bus:SmallEntities 2022-03-01 2023-02-28 SC161097 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC161097 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC161097 bus:Director1 2022-03-01 2023-02-28 SC161097 bus:Director2 2022-03-01 2023-02-28 SC161097 bus:Director3 2022-03-01 2023-02-28 SC161097 core:FurnitureFittings 2022-03-01 2023-02-28 SC161097 2021-03-01 2022-02-28 SC161097 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 SC161097 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 SC161097 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC161097 (Scotland)

BLAIRSTON INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH THE REGISTRAR

BLAIRSTON INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023

Contents

BLAIRSTON INVESTMENTS LIMITED

BALANCE SHEET

AS AT 28 FEBRUARY 2023
BLAIRSTON INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 5,266 5,362
Investment property 4 3,852,438 3,852,438
Investments 5 19,305 19,305
3,877,009 3,877,105
Current assets
Debtors 6 17,843 36,425
Cash at bank and in hand 41,885 80,723
59,728 117,148
Creditors: amounts falling due within one year 7 ( 1,517,616) ( 1,588,178)
Net current liabilities (1,457,888) (1,471,030)
Total assets less current liabilities 2,419,121 2,406,075
Creditors: amounts falling due after more than one year 8 ( 1,386,058) ( 1,441,858)
Net assets 1,033,063 964,217
Capital and reserves
Called-up share capital 9 120 120
Share premium account 1,980 1,980
Profit and loss account 1,030,963 962,117
Total shareholder's funds 1,033,063 964,217

For the financial year ending 28 February 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 Blairston Investments Limited (registered number: SC161097) were approved and authorised for issue by the Director on 27 November 2023. They were signed on its behalf by:

S M Di Ciacca
Director
BLAIRSTON INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
BLAIRSTON INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 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

Blairston Investments 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 45 Blairston Avenue, Bothwell, Lanarkshire,, G71 8SA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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 represents revenue recognised by the company in respect of property letting during the year, exclusive of VAT and trade discounts.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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 or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Profit and Loss Account as described below.

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.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year & creditors: amounts falling due after one year.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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 proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 March 2022 10,484 10,484
Additions 1,493 1,493
At 28 February 2023 11,977 11,977
Accumulated depreciation
At 01 March 2022 5,122 5,122
Charge for the financial year 1,589 1,589
At 28 February 2023 6,711 6,711
Net book value
At 28 February 2023 5,266 5,266
At 28 February 2022 5,362 5,362

4. Investment property

Investment property
£
Valuation
As at 01 March 2022 3,852,438
As at 28 February 2023 3,852,438

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 4,161,871 4,161,871

5. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 March 2022 19,305 19,305
At 28 February 2023 19,305 19,305
Provisions for impairment
At 01 March 2022 0 0
At 28 February 2023 0 0
Carrying value at 28 February 2023 19,305 19,305
Carrying value at 28 February 2022 19,305 19,305

6. Debtors

2023 2022
£ £
Trade debtors 916 19,568
Corporation tax 0 435
Other debtors 16,927 16,422
17,843 36,425

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 55,800 60,000
Trade creditors 2,866 65
Amounts owed to related parties 920,339 1,000,389
Other taxation and social security 14,753 14,835
Other creditors 523,858 512,889
1,517,616 1,588,178

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

2023 2022
£ £
Bank loans 1,236,058 1,291,858
Other creditors 150,000 150,000
1,386,058 1,441,858

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each 120 120

10. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts owed by related parties 10,000 10,000
Amounts owed to related parties 920,339 1,000,389
Key management personnel 430,657 430,748