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REGISTERED NUMBER: SC424877 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

BMC PROPERTIES LIMITED

BMC PROPERTIES LIMITED (REGISTERED NUMBER: SC424877)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BMC PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr J Beattie
Mr A MacDonald





REGISTERED OFFICE: 65 Beechgrove Terrace
Aberdeen
Aberdeenshire
AB15 5DS





REGISTERED NUMBER: SC424877 (Scotland)





ACCOUNTANTS: LEES
Chartered Certified Accountants
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

BMC PROPERTIES LIMITED (REGISTERED NUMBER: SC424877)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 430,000 397,542

CURRENT ASSETS
Cash at bank 50,737 19,053

CREDITORS
Amounts falling due within one year 5 155,838 161,913
NET CURRENT LIABILITIES (105,101 ) (142,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,899

254,682

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Fair value reserve 7 32,458 -
Retained earnings 7 291,441 253,682
SHAREHOLDERS' FUNDS 324,899 254,682

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 23 February 2024 and were signed on its behalf by:





Mr A MacDonald - Director


BMC PROPERTIES LIMITED (REGISTERED NUMBER: SC424877)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

BMC Properties 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.

As at 31 May 2023 the company had net current liabilities of £105,101. The directors have given an undertaking that they will continue to provide financial support as and when required for the foreseeable future and will not seek repayment of the loan to the detriment of other creditors. On these grounds, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover represents rental income, excluding value added tax. Rental income is recognised in accordance with the terms of the tenancy agreement.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 397,542
Revaluations 32,458
At 31 May 2023 430,000
NET BOOK VALUE
At 31 May 2023 430,000
At 31 May 2022 397,542

BMC PROPERTIES LIMITED (REGISTERED NUMBER: SC424877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 430,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 403,952 403,952
Aggregate depreciation (64,632 ) (56,553 )

Investment property was valued on an open market basis on 31 May 2023 by the company directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9,381 15,520
Other creditors 146,457 146,393
155,838 161,913

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

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

At 1 June 2022 253,682 - 253,682
Profit for the year 70,217 70,217
Reserve transfer (32,458 ) 32,458 -
At 31 May 2023 291,441 32,458 323,899

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A MacDonald.