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REGISTERED NUMBER: SC285003 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BRAESIDE HOMES LIMITED

BRAESIDE HOMES LIMITED (REGISTERED NUMBER: SC285003)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

BRAESIDE HOMES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: A Cruickshank
Mrs J Cruickshank





SECRETARY: Mrs J Cruickshank





REGISTERED OFFICE: 1A Braeside Terrace
Aberdeen
AB15 7TS





REGISTERED NUMBER: SC285003 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

BRAESIDE HOMES LIMITED (REGISTERED NUMBER: SC285003)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 684 374
Investment property 6 460,000 565,874
460,684 566,248

CURRENT ASSETS
Debtors 7 519 1,964
Cash at bank 56,318 49,442
56,837 51,406
CREDITORS
Amounts falling due within one year 8 522,169 522,040
NET CURRENT LIABILITIES (465,332 ) (470,634 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,648

)

95,614

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,748 ) 95,514
SHAREHOLDERS' FUNDS (4,648 ) 95,614

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 11 April 2024 and were signed on its behalf by:





Mrs J Cruickshank - Director


BRAESIDE HOMES LIMITED (REGISTERED NUMBER: SC285003)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Braeside Homes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on a going concern basis which assumes the company will continue trading for a period of no less than 12 months from the date of this report.

The directors acknowledge the negative balance sheet position and has given assurance that they will continue to support the company in order for it to meet it's obligations as they fall due by making funds available and not calling on the director's loan accounts for repayment until the company is in such a position to be able to make repayments.

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 - 33% on reducing balance
Office equipment - 15% on reducing balance

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.

4. EMPLOYEES AND DIRECTORS

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

BRAESIDE HOMES LIMITED (REGISTERED NUMBER: SC285003)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 82 2,431 2,513
Additions - 579 579
At 31 December 2023 82 3,010 3,092
DEPRECIATION
At 1 January 2023 80 2,059 2,139
Charge for year 2 26 28
Eliminated on disposal - 241 241
At 31 December 2023 82 2,326 2,408
NET BOOK VALUE
At 31 December 2023 - 684 684
At 31 December 2022 2 372 374

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 565,874
Revaluations (105,874 )
At 31 December 2023 460,000
NET BOOK VALUE
At 31 December 2023 460,000
At 31 December 2022 565,874

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 (105,874 )
Cost 565,874
460,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,500
Prepayments 519 464
519 1,964

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 1,244 2,837
Directors' current accounts 519,575 518,003
Accrued expenses 1,350 1,200
522,169 522,040

BRAESIDE HOMES LIMITED (REGISTERED NUMBER: SC285003)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs J Cruickshank
Balance outstanding at start of year (261,278 ) (261,061 )
Amounts repaid (786 ) (217 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (262,064 ) (261,278 )

A Cruickshank
Balance outstanding at start of year (256,724 ) (256,507 )
Amounts repaid (786 ) (217 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (257,510 ) (256,724 )

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BRAESIDE HOMES LIMITED (REGISTERED NUMBER: SC285003)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Braeside Homes Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Braeside Homes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Braeside Homes Limited and state those matters that we have agreed to state to the Board of Directors of Braeside Homes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Braeside Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Braeside Homes Limited. You consider that Braeside Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Braeside Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


11 April 2024