BY CHANCE LIMITED

Company Registration Number:
SC680638 (Scotland)

Unaudited statutory accounts for the year ended 30 November 2022

Period of accounts

Start date: 1 December 2021

End date: 30 November 2022

BY CHANCE LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2022

Directors report
Balance sheet
Additional notes
Balance sheet notes

BY CHANCE LIMITED

Directors' report period ended 30 November 2022

The directors present their report with the financial statements of the company for the period ended 30 November 2022

Principal activities of the company

letting of property.



Directors

The directors shown below have held office during the whole of the period from
1 December 2021 to 30 November 2022

Grant Mullholland
Lesley Higgins


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 November 2023

And signed on behalf of the board by:
Name: Grant Mullholland
Status: Director

BY CHANCE LIMITED

Balance sheet

As at 30 November 2022

Notes 2022 13 months to 30 November 2021


£

£
Fixed assets
Investments: 3 262,600 262,600
Total fixed assets: 262,600 262,600
Current assets
Debtors: 4 650 650
Cash at bank and in hand: 18,229 6,475
Total current assets: 18,879 7,125
Creditors: amounts falling due within one year: 5 ( 267,866 ) ( 265,260 )
Net current assets (liabilities): (248,987) (258,135)
Total assets less current liabilities: 13,613 4,465
Total net assets (liabilities): 13,613 4,465
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 13,611 4,463
Total Shareholders' funds: 13,613 4,465

The notes form part of these financial statements

BY CHANCE LIMITED

Balance sheet statements

For the year ending 30 November 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 November 2023
and signed on behalf of the board by:

Name: Grant Mullholland
Status: Director

The notes form part of these financial statements

BY CHANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    Judgements and key sources of estimated uncertaintyThe preparation of the financial statements requires management to make judgements estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstancesGoing concern After reviewing the forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing it financial statements.Revenue recognitionTurnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services supplied.Corporation TaxThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Investment propertiesInvestment property which is property held to earn rentals and/or for capital appreciation, is initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognized in the profit and loss account.

BY CHANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 2. Employees

    2022 13 months to 30 November 2021
    Average number of employees during the period 2 2

BY CHANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Fixed assets investments note

Investment property comprises of a commercial building and land available for rent. The fair value of the investment property has been arrived at on the basis of an internal valuation undertaken by the Directors at 30 November 2022 and based on the current market values of similar assets in the area of the company Investments. The Directors deem that the fair value of the assets is £262,600.If investment properties were stated on a historical cost basis rather than a fair value basis, the amounts would have been included at £262,600.

BY CHANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Debtors

2022 13 months to 30 November 2021
£ £
Other debtors 650 650
Total 650 650

BY CHANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

5. Creditors: amounts falling due within one year note

2022 13 months to 30 November 2021
£ £
Taxation and social security 3,193 1,047
Accruals and deferred income 540 540
Other creditors 264,133 263,673
Total 267,866 265,260