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REGISTERED NUMBER: SC261421 (Scotland)




















Bruntsfield Property Investments Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023






Bruntsfield Property Investments Limited (Registered number: SC261421)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bruntsfield Property Investments Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mr B C Weir



SECRETARY: Mr B C Weir



REGISTERED OFFICE: Torsonce Mains
Stow
Galashiels
Selkirkshire
TD1 2SN



REGISTERED NUMBER: SC261421 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
36 St Andrew Square
Edinburgh
EH2 2AD

Bruntsfield Property Investments Limited (Registered number: SC261421)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 327,569 611,788
Investment property 5 693,289 693,289
1,020,858 1,305,077

CURRENT ASSETS
Debtors 6 4,348 671
Cash at bank 159,350 171,923
163,698 172,594
CREDITORS
Amounts falling due within one year 7 1,051,401 1,346,250
NET CURRENT LIABILITIES (887,703 ) (1,173,656 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,155

131,421

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 2,717 (2,418 )
Retained earnings 8 130,338 133,739
SHAREHOLDERS' FUNDS 133,155 131,421

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

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

The director acknowledges his 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.

Bruntsfield Property Investments Limited (Registered number: SC261421)

Balance Sheet - continued
31 January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2024 and were signed by:





Mr B C Weir - Director


Bruntsfield Property Investments Limited (Registered number: SC261421)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Bruntsfield Property Investments Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rental income, excluding value added tax.

Rent is recognised in accordance with the lease agreement. Where there are lease incentives such as rent free periods the rent relating to these incentives is accrued and subsequently released of the full period of the lease agreement. Property sales are recognised with reference to completion date.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Bruntsfield Property Investments Limited (Registered number: SC261421)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are repayable on demand.

Fixed asset investments
Unlisted fixed asset investments are stated at cost less any provision for impairment.

Listed fixed asset investments are stated at market value. Any revaluation gains or losses are recognised in the fair value reserve.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future. In order to do so the company will require the continued support of its director, which has been indicated. The director's going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements.

3. EMPLOYEES AND DIRECTORS

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

Bruntsfield Property Investments Limited (Registered number: SC261421)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 February 2022 496,458 115,330 611,788
Additions 181,313 29,368 210,681
Disposals (472,518 ) - (472,518 )
Revaluations (22,382 ) - (22,382 )
At 31 January 2023 182,871 144,698 327,569
NET BOOK VALUE
At 31 January 2023 182,871 144,698 327,569
At 31 January 2022 496,458 115,330 611,788

Cost or valuation at 31 January 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 0 2,717 - 2,717
Cost 180,154 144,698 324,852
182,871 144,698 327,569

The cost and market value of the investments listed on the London Stock Exchange as at 31 January 2023 were £180,154 (2022: £500,518) and £182,871 (2022: £496,458), respectively.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 693,289
NET BOOK VALUE
At 31 January 2023 693,289
At 31 January 2022 693,289

Bruntsfield Property Investments Limited (Registered number: SC261421)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 693,289 693,289

Investment properties were valued on an open market basis on 31 January 2023 by the director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,000 -
Other debtors 348 671
4,348 671



7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 35,017 30,173
Other creditors 1,016,384 1,316,077
1,051,401 1,346,250

Included in other creditors was a loan due to related parties of £1,308,336 (2021: £336,893).

Bruntsfield Property Investments Limited (Registered number: SC261421)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2022 133,739 (2,418 ) 131,321
Profit for the year 1,734 1,734
Transfer on disposal of
investments

(2,418

)

2,418

-

Revaluation during year (2,717 ) 2,717 -
At 31 January 2023 130,338 2,717 133,055

The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings.

9. RELATED PARTY DISCLOSURES

During the previous year the company's parent company Bruce Weir Holdings Limited transferred investment property and listed investments to the company at their respective market values.