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REGISTERED NUMBER: SC250916 (Scotland)




















Blackbourn Geological Services Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






Blackbourn Geological Services Limited (Registered number: SC250916)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Blackbourn Geological Services Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Dr G A Blackbourn
Mrs B Blackbourn



SECRETARY: Mrs B Blackbourn



REGISTERED OFFICE: 15a Seaview Place
Bo'Ness
West Lothian
EH51 OAJ



REGISTERED NUMBER: SC250916 (Scotland)



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



BANKERS: Coutts
6-8 George Street
Edinburgh
EH2 2PF

Blackbourn Geological Services Limited (Registered number: SC250916)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 118,647 91,647
118,647 91,647

CURRENT ASSETS
Debtors 6 1,214 4,788
Cash at bank 2,281 27,970
3,495 32,758
CREDITORS
Amounts falling due within one year 7 61,764 41,467
NET CURRENT LIABILITIES (58,269 ) (8,709 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,378

82,938

PROVISIONS FOR LIABILITIES - 724
NET ASSETS 60,378 82,214

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 28,685 -
Retained earnings 30,693 81,214
SHAREHOLDERS' FUNDS 60,378 82,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Blackbourn Geological Services Limited (Registered number: SC250916)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





Dr G A Blackbourn - Director


Blackbourn Geological Services Limited (Registered number: SC250916)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Blackbourn Geological Services 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 and revenue recognition
Turnover represents invoiced fees excluding VAT for geological consultancy work. Turnover is recognised when the company reaches agreed milestones.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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

In the opinion of the directors, due to the location of the heritable property and property improvements to date, they do not consider that the value of the property will diminish. Therefore there is no depreciation charged on the cost of the heritable property. This policy is not in accordance with the requirements of the Companies Act 2006, but departure from the provisions of the Act is required in order to provide a true and fair view.

The heritable property was revalued in the year to reflect a disposal after the balance sheet date. Deferred tax has been calculated on the revaluation but is not applicable due to indexation relief.

Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost compromise bank, trade debtors and other debtors. Financial liabilities compromise trade creditors, accruals and other creditors.


Blackbourn Geological Services Limited (Registered number: SC250916)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Blackbourn Geological Services Limited (Registered number: SC250916)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 38,000
AMORTISATION
At 1 July 2022
and 30 June 2023 38,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

Goodwill of £38,000 was acquired from Blackbourn Geological Services, an unincorporated business owned by Dr G A Blackbourn and Mrs B Blackbourn, on 1 July 2003.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 July 2022 133,263
Additions 295
Revaluations 28,685
At 30 June 2023 162,243
DEPRECIATION
At 1 July 2022 41,616
Charge for year 1,980
At 30 June 2023 43,596
NET BOOK VALUE
At 30 June 2023 118,647
At 30 June 2022 91,647

Blackbourn Geological Services Limited (Registered number: SC250916)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2023 28,685
Cost 133,558
162,243

The property at 26 East Pier Street was revalued by the directors as at 30 June 2023 at £105,000, to reflect the value it was sold for after the balance sheet date. The directors are not professional valuers.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,214 4,788

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9 7,782
Other creditors 61,755 33,685
61,764 41,467

Other creditors include balances owed to the directors' current accounts of £60,425 (2022: £32,425). These balances are unsecured, interest free and repayable on demand.

8. SECURED DEBTS

The bank overdraft facility is secured with a personal guarantee from the directors, Dr G A and Mrs B Blackbourn.