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REGISTERED NUMBER: SC343040 (Scotland)















Audited Financial Statements for the Year Ended 30 June 2023

for

Bruce Bars Scotland Ltd

Bruce Bars Scotland Ltd (Registered number: SC343040)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bruce Bars Scotland Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: K Fullerton
S Piatkowski





SECRETARY: A M M Thomson





REGISTERED OFFICE: Springfield House
Laurelhill Business Park
Stirling
FK7 9JQ





REGISTERED NUMBER: SC343040 (Scotland)





AUDITORS: McLachlan & Tiffin
Clifton House
Crieff
PH7 4BN

Bruce Bars Scotland Ltd (Registered number: SC343040)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 285 406
Tangible assets 5 159,320 159,320
159,605 159,726

CURRENT ASSETS
Debtors 6 773,332 667,048
Cash at bank 138,446 138,416
911,778 805,464
CREDITORS
Amounts falling due within one year 7 172,045 63,656
NET CURRENT ASSETS 739,733 741,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

899,338

901,534

CREDITORS
Amounts falling due after more than one year 8 - 7,971
NET ASSETS 899,338 893,563

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 899,238 893,463
899,338 893,563

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 28 March 2024 and were signed on its behalf by:





K Fullerton - Director


Bruce Bars Scotland Ltd (Registered number: SC343040)

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

1. STATUTORY INFORMATION

Bruce Bars Scotland 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income is recognised in the period in which it is due.

Intangible assets
Intangible assets are the initial costs of setting up lease agreements for tenanted properties. They are being amortised on a straight line basis over 10 years.

Tangible fixed assets
Tangible fixed assets are being held under the cost model. The directors believe that the residual values of heritable properties will match or exceed their current net book values. Therefore no depreciation has been provided in the current year.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method. Where loans have been consolidated, this has been treated as a new loan agreement and the effective rate of interest has been recalculated.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid.

Debtors payable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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.


Bruce Bars Scotland Ltd (Registered number: SC343040)

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

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

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Tenants
Leases
£   
COST
At 1 July 2022
and 30 June 2023 1,219
AMORTISATION
At 1 July 2022 813
Amortisation for year 121
At 30 June 2023 934
NET BOOK VALUE
At 30 June 2023 285
At 30 June 2022 406

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 July 2022
and 30 June 2023 165,958
DEPRECIATION
At 1 July 2022
and 30 June 2023 6,638
NET BOOK VALUE
At 30 June 2023 159,320
At 30 June 2022 159,320

Bruce Bars Scotland Ltd (Registered number: SC343040)

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

5. TANGIBLE FIXED ASSETS - continued

Leasehold property was valued in May 2022 by Colliers. Under FRS102 the leasehold assets are held under operating leases and as such their fair value does not appear on the balance sheet. The value of these assets was £1,213,749.

Investment Property Rented to Another Group Entity

The company has chosen to apply the cost model to investment property rented to another group entity. The net book carrying value of these assets is nil.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 7,227 4,898
Amounts owed by group undertakings 753,885 652,301
Other debtors 2,558 -
Prepayments and accrued income 9,662 9,849
773,332 667,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts - 11,183
Amounts owed to group undertakings 106,324 -
Tax 37,612 24,722
VAT 12,327 12,615
Other creditors 12,000 12,000
Accrued expenses 3,782 3,136
172,045 63,656

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-2 years - 7,971

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 66,202 70,060

10. SECURED DEBTS

Cynergy bank hold a bond and floating charge over the company's assets.

There is an unlimited cross Company guarantee between Bruce Inns Limited, Bruce Bars Scotland Limited, Bruce Taverns Ltd, Bruce Property Ltd, Bruce Faith Ltd and Bruce Group Scotland Ltd.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ralph C Tiffin (Senior Statutory Auditor)
for and on behalf of McLachlan & Tiffin

Bruce Bars Scotland Ltd (Registered number: SC343040)

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

12. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

30.06.23 30.06.22
£    £   

Amount due to related party (106,324 ) 76


Other related parties

30.06.23 30.06.22
£    £   

Amount due from related parties 753,524 652,225

The loans provided to these parties were provided interest free and have been classified as short term loans as there are no set repayment terms. The outstanding amount is included in amounts owed by / owed to group undertakings.

During the year, dividends of £140,000 (2022 - £Nil) were declared to the shareholders.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Bruce Group Scotland Limited.

The issued share capital of Bruce Bars Scotland Limited is 76% owned by Bruce Group Scotland Ltd, whose registered office is:-

Springfield House
Laurelhill Business Park
Stirling
FK7 9JQ

It is the view of the directors that there is no ultimate controlling party. The directors hold 100% of the issued share capital of the ultimate parent Bruce Group Scotland Ltd and have an equal shareholding and equivalent voting rights in that entity.