Silverfin false false 31/12/2023 01/01/2023 31/12/2023 R Ballantyne 14/02/2011 G McKenzie 01/01/2017 S Webster 28/02/2022 18 July 2024 The principle activity of the Company during the financial year was that of property sales, lettings and property management. SC390247 2023-12-31 SC390247 bus:Director1 2023-12-31 SC390247 bus:Director2 2023-12-31 SC390247 bus:Director3 2023-12-31 SC390247 2022-12-31 SC390247 core:CurrentFinancialInstruments 2023-12-31 SC390247 core:CurrentFinancialInstruments 2022-12-31 SC390247 core:ShareCapital 2023-12-31 SC390247 core:ShareCapital 2022-12-31 SC390247 core:SharePremium 2023-12-31 SC390247 core:SharePremium 2022-12-31 SC390247 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC390247 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC390247 core:Goodwill 2022-12-31 SC390247 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 SC390247 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 SC390247 core:Goodwill 2023-12-31 SC390247 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 SC390247 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 SC390247 core:PlantMachinery 2022-12-31 SC390247 core:FurnitureFittings 2022-12-31 SC390247 core:ComputerEquipment 2022-12-31 SC390247 core:PlantMachinery 2023-12-31 SC390247 core:FurnitureFittings 2023-12-31 SC390247 core:ComputerEquipment 2023-12-31 SC390247 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 SC390247 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-12-31 SC390247 bus:OrdinaryShareClass1 2023-12-31 SC390247 2023-01-01 2023-12-31 SC390247 bus:FilletedAccounts 2023-01-01 2023-12-31 SC390247 bus:SmallEntities 2023-01-01 2023-12-31 SC390247 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC390247 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC390247 bus:Director1 2023-01-01 2023-12-31 SC390247 bus:Director2 2023-01-01 2023-12-31 SC390247 bus:Director3 2023-01-01 2023-12-31 SC390247 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 SC390247 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-01-01 2023-12-31 SC390247 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-01-01 2023-12-31 SC390247 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 SC390247 core:FurnitureFittings 2023-01-01 2023-12-31 SC390247 core:ComputerEquipment core:TopRangeValue 2023-01-01 2023-12-31 SC390247 2022-01-01 2022-12-31 SC390247 core:PlantMachinery 2023-01-01 2023-12-31 SC390247 core:ComputerEquipment 2023-01-01 2023-12-31 SC390247 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC390247 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC390247 (Scotland)

BALLANTYNES SCOTLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

BALLANTYNES SCOTLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

BALLANTYNES SCOTLAND LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
BALLANTYNES SCOTLAND LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 1,397 2,470
1,397 2,470
Current assets
Debtors 5 268,710 314,205
Cash at bank and in hand 21,229 31,291
289,939 345,496
Creditors: amounts falling due within one year 6 ( 137,261) ( 181,635)
Net current assets 152,678 163,861
Total assets less current liabilities 154,075 166,331
Provision for liabilities ( 349) ( 617)
Net assets 153,726 165,714
Capital and reserves
Called-up share capital 7 20 20
Share premium account 2,500 2,500
Profit and loss account 151,206 163,194
Total shareholder's funds 153,726 165,714

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

Directors' responsibilities:

The financial statements of Ballantynes Scotland Limited (registered number: SC390247) were approved and authorised for issue by the Board of Directors on 18 July 2024. They were signed on its behalf by:

R Ballantyne
Director
BALLANTYNES SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
BALLANTYNES SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ballantynes Scotland Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 30 Stafford Street, Edinburgh, EH3 7BD, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property sales, lettings and property management services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 3 years straight line
Development costs 3 years straight line
Trademarks, patents and licences 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account (if any).

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Intangible assets

Goodwill Development costs Trademarks, patents
and licences
Total
£ £ £ £
Cost
At 01 January 2023 1 1 1 3
At 31 December 2023 1 1 1 3
Accumulated amortisation
At 01 January 2023 1 1 1 3
At 31 December 2023 1 1 1 3
Net book value
At 31 December 2023 0 0 0 0
At 31 December 2022 0 0 0 0

4. Tangible assets

Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 January 2023 4,000 3,018 10,673 17,691
At 31 December 2023 4,000 3,018 10,673 17,691
Accumulated depreciation
At 01 January 2023 1,750 2,798 10,673 15,221
Charge for the financial year 1,000 73 0 1,073
At 31 December 2023 2,750 2,871 10,673 16,294
Net book value
At 31 December 2023 1,250 147 0 1,397
At 31 December 2022 2,250 220 0 2,470

5. Debtors

2023 2022
£ £
Trade debtors 19,079 57,201
Amounts owed by Group undertakings 146,791 145,401
Amounts owed by related parties 206 206
Amounts owed by directors 17,281 33,536
Prepayments 85,353 77,861
268,710 314,205

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 39,762 25,385
Amounts owed to Group undertakings 76,008 114,617
Accruals 6,114 10,298
Taxation and social security 15,377 31,282
Other creditors 0 53
137,261 181,635

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
20 Ordinary shares of £ 1.00 each 20 20

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 16,964 60,297

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts owed to a parent company 76,008 114,618

The above loan is unsecured, interest-free and repayable on demand.

Transactions with the entity's directors

2023 2022
£ £
Amounts owed by key management personnel 17,281 33,536

The above loans are unsecured, interest-free and repayable on demand.

Other related party transactions

2023 2022
£ £
Amounts owed by a subsidiary company 8,620 6,150
Amounts owed by a subsidiary company 7,000 7,000
Amounts owed by a subsidiary company 131,171 132,251
Amounts owed by a related company through shareholding 206 206

The above loans are unsecured, interest-free and repayable on demand.

10. Ultimate controlling party

Parent Company:

Ballantynes Property Group Limited
30 Stafford Street, Edinburgh, United Kingdom, EH3 7BD