Registered number
SC053187
Bairsto Property Company Limited
Filleted Accounts
31 January 2024
Bairsto Property Company Limited
Registered number: SC053187
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 442,063 442,534
Current assets
Debtors 4 1,934 1,409
Investments held as current assets 5 243,368 275,605
Cash at bank and in hand 202,432 175,025
447,734 452,039
Creditors: amounts falling due within one year 6 (29,822) (57,681)
Net current assets 417,912 394,358
Net assets 859,975 836,892
Capital and reserves
Called up share capital 100 100
Profit and loss account 859,875 836,792
Shareholders' funds 859,975 836,892
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Susan A Alexander
Director
Approved by the board on 12 April 2024
Bairsto Property Company Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not provided
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the forseeable future. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 440,394 15,966 456,360
Additions 200 - 200
At 31 January 2024 440,594 15,966 456,560
Depreciation
At 1 February 2023 - 13,826 13,826
Charge for the year - 671 671
At 31 January 2024 - 14,497 14,497
Net book value
At 31 January 2024 440,594 1,469 442,063
At 31 January 2023 440,394 2,140 442,534
4 Debtors 2024 2023
£ £
Other debtors 1,934 1,409
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 243,368 275,605
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments (8,019) -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,868 6,280
Other creditors 23,954 51,401
29,822 57,681
7 Other information
Bairsto Property Company Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
75 Bon Accord Street
Aberdeen
AB11 6ED
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