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Registered number: SC654130
Burnbank Properties Limited
Unaudited Financial Statements
For The Year Ended 28 February 2023
Christies
Dalgety Bay Business Centre
Sybrig House
Ridge Way
Dalgety Bay
KY11 9JN
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC654130
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 140,655 140,655
140,655 140,655
CURRENT ASSETS
Cash at bank and in hand 18,443 11,677
18,443 11,677
Creditors: Amounts Falling Due Within One Year 5 (102,899 ) (96,707 )
NET CURRENT ASSETS (LIABILITIES) (84,456 ) (85,030 )
TOTAL ASSETS LESS CURRENT LIABILITIES 56,199 55,625
Creditors: Amounts Falling Due After More Than One Year 6 (50,542 ) (53,466 )
NET ASSETS 5,657 2,159
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 5,557 2,059
SHAREHOLDERS' FUNDS 5,657 2,159
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Bryan Oxley
Director
14/11/2023
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Burnbank Properties Limited is a private company, limited by shares, incorporated in Scotland, registered number SC654130 . The registered office is 23 The Woodlands, Rosyth, Fife, KY11 2JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation charged
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 March 2022 140,655
As at 28 February 2023 140,655
Net Book Value
As at 28 February 2023 140,655
As at 1 March 2022 140,655
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 4,671 4,670
Corporation tax 821 483
Accruals and deferred income 639 615
Director's loan account 96,768 90,939
102,899 96,707
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 50,542 53,466
50,542 53,466
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4