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REGISTERED NUMBER: SC102538 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Blythswood Group Limited

Blythswood Group Limited (Registered number: SC102538)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Blythswood Group Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A J Watt FRICS
Mrs I R S Watt





SECRETARY: A J Watt FRICS





REGISTERED OFFICE: 160 West George Street
Glasgow
G2 2HQ





REGISTERED NUMBER: SC102538 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Blythswood Group Limited (Registered number: SC102538)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 334 603
Investments 5 36,850 36,850
Investment property 6 800,000 800,000
837,184 837,453

CURRENT ASSETS
Debtors 7 7,252 16,652
Cash at bank 25,451 33,341
32,703 49,993
CREDITORS
Amounts falling due within one year 8 53,422 48,561
NET CURRENT (LIABILITIES)/ASSETS (20,719 ) 1,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

816,465

838,885

CREDITORS
Amounts falling due after more than one year 9 (337,929 ) (347,813 )

PROVISIONS FOR LIABILITIES (53,656 ) (53,656 )
NET ASSETS 424,880 437,416

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Fair value reserve 11 (491,688 ) (491,688 )
Capital redemption reserve 11 250,000 250,000
Retained earnings 11 416,568 429,104
SHAREHOLDERS' FUNDS 424,880 437,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Blythswood Group Limited (Registered number: SC102538)

Balance Sheet - continued
31 March 2024


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 9 August 2024 and were signed on its behalf by:





A J Watt FRICS - Director


Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Blythswood Group 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Gross rents received and receivable from properties are included in the profit and loss account. Provision is made for any rents due not considered recoverable.

Tangible fixed assets
Tangible fixed assets are stated at their purchase price, together with any incidental expenses of acquisition.

Provision for depreciation is made so as to write off the cost of tangible fixed assets less their residual value on a straight line basis over the expected useful economic life to the entity of the asset concerned or, if held under a finance lease, over the lease term, whichever is the shorter. Depreciation is charged over the following periods:

Fixtures & Fittings - 15% on cost


No depreciation is provided in respect of investment properties. The directors consider that this accounting
policy (which represents a departure from the statutory accounting principles) is necessary to provide a true and fair view.

Investment property
Investment properties are included at fair value. Any surplus or deficit is recognised within the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less impairment. Loans receivable are measured at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.


Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 4,245
DEPRECIATION
At 1 April 2023 3,642
Charge for year 269
At 31 March 2024 3,911
NET BOOK VALUE
At 31 March 2024 334
At 31 March 2023 603

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 68,367
PROVISIONS
At 1 April 2023
and 31 March 2024 31,517
NET BOOK VALUE
At 31 March 2024 36,850
At 31 March 2023 36,850

Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 800,000
NET BOOK VALUE
At 31 March 2024 800,000
At 31 March 2023 800,000

The investment properties were valued on a fair value basis on 31 March 2024 by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 7,252 16,652

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,800 9,800
Taxation and social security 87 159
Other creditors 43,535 38,602
53,422 48,561

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 337,929 347,813

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 347,729 357,613

The bank loan's are secured by standard securities over the investment properties owned by the company and by a floating charge.

Blythswood Group Limited (Registered number: SC102538)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RESERVES
Fair Capital
Retained value redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 429,104 (491,688 ) 250,000 187,416
Deficit for the year (12,536 ) (12,536 )
At 31 March 2024 416,568 (491,688 ) 250,000 174,880

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
A J Watt FRICS and Mrs I R S Watt
Balance outstanding at start of year 14,862 10,406
Amounts advanced - 13,211
Amounts repaid (9,400 ) (8,755 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,462 14,862

The maximum balance outstanding on the above loan during the year was £14,862 (2023 £18,394). The above loan is interest free and has no fixed repayment date.

13. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.