Registered number
SC061059
Bridge of Earn Property Company Limited
Filleted Accounts
31 December 2023
Bridge of Earn Property Company Limited
Registered number: SC061059
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 707,119 606,000
Current assets
Debtors 4 66,328 164,570
Cash at bank and in hand 139,322 151,974
205,650 316,544
Creditors: amounts falling due within one year 5 (17,585) (22,016)
Net current assets 188,065 294,528
Total assets less current liabilities 895,184 900,528
Provisions for liabilities (50,671) (50,671)
Net assets 844,513 849,857
Capital and reserves
Called up share capital 50,000 50,000
Revaluation reserve 6 266,688 266,688
Profit and loss account 527,825 533,169
Shareholders' funds 844,513 849,857
The director is 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 director acknowledges his 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.
E Michael Upton
Director
Approved by the board on 6 August 2024
Bridge of Earn Property Company Limited
Notes to the Accounts
for the year ended 31 December 2023
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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. 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 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 606,000 1,328 607,328
Additions 101,119 - 101,119
At 31 December 2023 707,119 1,328 708,447
Depreciation
At 1 January 2023 - 1,328 1,328
At 31 December 2023 - 1,328 1,328
Net book value
At 31 December 2023 707,119 - 707,119
At 31 December 2022 606,000 - 606,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 339,312 339,312
Cumulative depreciation based on historical cost - -
339,312 339,312
4 Debtors 2023 2022
£ £
Trade debtors 14,815 10,432
Other debtors 51,513 154,138
66,328 164,570
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 490 337
Taxation and social security costs 5,355 9,866
Other creditors 11,740 11,813
17,585 22,016
6 Revaluation reserve 2023 2022
£ £
At 1 January 2023 266,688 266,688
At 31 December 2023 266,688 266,688
7 Other information
Bridge of Earn Property Company Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
3 Old Mill Park
Edinburgh Road
Bridge of Earn
Perthshire
PH2 9SX
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