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Registration number: SC160813

Blairhill Land Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Blairhill Land Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Blairhill Land Limited

Company Information

Directors

Matthew Pease

Barbara Pease

Registered office

Over Blairhill
Rumbling Bridge
Kinross
KY13 0PU

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

Blairhill Land Limited

(Registration number: SC160813)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

59,456

222,569

Debtors

5

100

100

Cash at bank and in hand

 

151,076

-

 

210,632

222,669

Creditors: Amounts falling due within one year

6

(3,504)

(312,946)

Total assets less current liabilities

 

207,128

(90,277)

Creditors: Amounts falling due after more than one year

6

-

(40,000)

Net assets/(liabilities)

 

207,128

(130,277)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

207,028

(130,377)

Shareholders' funds/(deficit)

 

207,128

(130,277)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................
Matthew Pease
Director

   
     
 

Blairhill Land Limited

Statement of Changes in Equity for the Year Ended 31 October 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 November 2022

100

(130,377)

(130,277)

Profit for the year

-

337,405

337,405

Total comprehensive income

-

337,405

337,405

At 31 October 2023

100

207,028

207,128

Share capital
£

Profit and loss account
£

Total
£

At 1 November 2021

100

(120,479)

(120,379)

Loss for the year

-

(9,898)

(9,898)

Total comprehensive income

-

(9,898)

(9,898)

At 31 October 2022

100

(130,377)

(130,277)

 

Blairhill Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Over Blairhill
Rumbling Bridge
Kinross
KY13 0PU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Blairhill Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Stocks

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work in progress to their present location and condition. At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Stocks

2023
£

2022
£

Work in progress

59,456

222,569

5

Debtors

Current

2023
£

2022
£

Other debtors

100

100

 

Blairhill Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank overdraft

-

1,448

Directors' current account

-

79,993

Trade creditors

 

2,404

2,404

Accruals and deferred income

 

1,100

1,100

Other creditors

 

-

228,001

 

3,504

312,946

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

40,000

 

Blairhill Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100