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REGISTERED NUMBER: SC241297















BRUNSWICK RESIDENTIAL LETTING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,000 26,000
Tangible assets 5 845 2,970
24,845 28,970

CURRENT ASSETS
Debtors 6 43,510 36,700
Cash at bank 55,930 65,434
99,440 102,134
CREDITORS
Amounts falling due within one year 7 124,110 126,066
NET CURRENT LIABILITIES (24,670 ) (23,932 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

175

5,038

PROVISIONS FOR LIABILITIES 161 -
NET ASSETS 14 5,038

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 12 5,036
SHAREHOLDERS' FUNDS 14 5,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)

BALANCE SHEET - continued
31 MARCH 2023



The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





P Priestman - Director


BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Brunswick Residential Letting Limited is a private company, limited by shares, registered in Scotland. The company's registered office is 36 Minard Road, Glasgow, G41 2HW.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents invoiced sales of services, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill arose during 2013 and is being written off over 20 years commencing in the year end 31 March 2016.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on cost and 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill, plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Government grants
Government grants of a capital nature are taken to a separate deferred income account and released to the profit and loss account in accordance with the company's depreciation policy over the useful economic life of the asset concerned. Grants of a revenue nature are taken to the profit and loss account in the year in which the expenditure is incurred.

BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from financial institutions and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Hire purchase and lease commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 40,000
AMORTISATION
At 1 April 2022 14,000
Charge for year 2,000
At 31 March 2023 16,000
NET BOOK VALUE
At 31 March 2023 24,000
At 31 March 2022 26,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 40,906
Additions 226
At 31 March 2023 41,132
DEPRECIATION
At 1 April 2022 37,936
Charge for year 2,351
At 31 March 2023 40,287
NET BOOK VALUE
At 31 March 2023 845
At 31 March 2022 2,970

BRUNSWICK RESIDENTIAL LETTING LIMITED (REGISTERED NUMBER: SC241297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 43,510 36,700

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 30,146 32,641
Taxation and social security 48,196 42,873
Other creditors 45,768 50,552
124,110 126,066

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
R Cowan
Balance outstanding at start of year 11,564 11,578
Amounts advanced 67,592 63,486
Amounts repaid (66,470 ) (63,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,686 11,564

P Priestman
Balance outstanding at start of year 13,601 13,606
Amounts advanced 72,501 63,495
Amounts repaid (66,470 ) (63,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,632 13,601

Interest of £619 (2022: £630) has been charged during the year on these loans which are repayable on demand.