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REGISTERED NUMBER: SC472213 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Baggypocket Ltd

Baggypocket Ltd (Registered number: SC472213)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Baggypocket Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Andrew R Howat





REGISTERED OFFICE: Office 375
98 Woodlands Road
Glasgow
G3 6HB





REGISTERED NUMBER: SC472213 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Baggypocket Ltd (Registered number: SC472213)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,065 5,840
Investment property 5 3,874,952 3,858,696
3,957,017 3,864,536

CURRENT ASSETS
Debtors 6 50,155 59,132
Cash at bank 431,193 184,384
481,348 243,516
CREDITORS
Amounts falling due within one year 7 439,671 247,880
NET CURRENT ASSETS/(LIABILITIES) 41,677 (4,364 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,998,694

3,860,172

CREDITORS
Amounts falling due after more than one
year

8

3,581,891

3,451,372
NET ASSETS 416,803 408,800

CAPITAL AND RESERVES
Called up share capital 10 399,233 399,233
Retained earnings 17,570 9,567
SHAREHOLDERS' FUNDS 416,803 408,800

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 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.

Baggypocket Ltd (Registered number: SC472213)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 February 2024 and were signed by:





Andrew R Howat - Director


Baggypocket Ltd (Registered number: SC472213)

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

1. STATUTORY INFORMATION

Baggypocket Ltd 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.

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.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Baggypocket Ltd (Registered number: SC472213)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fittings
and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 April 2022 11,406 - 11,406
Additions - 95,393 95,393
At 31 March 2023 11,406 95,393 106,799
DEPRECIATION
At 1 April 2022 5,566 - 5,566
Charge for year 1,168 18,000 19,168
At 31 March 2023 6,734 18,000 24,734
NET BOOK VALUE
At 31 March 2023 4,672 77,393 82,065
At 31 March 2022 5,840 - 5,840

Baggypocket Ltd (Registered number: SC472213)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 95,393
At 31 March 2023 95,393
DEPRECIATION
Charge for year 18,000
At 31 March 2023 18,000
NET BOOK VALUE
At 31 March 2023 77,393

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,858,696
Additions 627,201
Disposals (610,945 )
At 31 March 2023 3,874,952
NET BOOK VALUE
At 31 March 2023 3,874,952
At 31 March 2022 3,858,696

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 50,155 59,132

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,875 6,944
Hire purchase contracts 11,796 -
Taxation and social security 3,349 3,361
Other creditors 414,651 237,575
439,671 247,880

Baggypocket Ltd (Registered number: SC472213)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 3,530,547 3,451,372
Hire purchase contracts 51,344 -
3,581,891 3,451,372

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 3,508,280 3,418,039

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,540,422 3,458,316
Hire purchase contracts 63,140 -
3,603,562 3,458,316

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
399,233 Ordinary £1 399,233 399,233

11. ULTIMATE CONTROLLING PARTY

The company is under the control of Andrew R Howat.