1 November 2022 v2024.39.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC1693972022-11-012023-10-31SC1693972023-10-31SC1693972022-10-31SC169397core:WithinOneYear2023-10-31SC169397core:WithinOneYear2022-10-31SC169397core:AfterOneYear2023-10-31SC169397core:AfterOneYear2022-10-31SC169397core:ShareCapital2023-10-31SC169397core:ShareCapital2022-10-31SC169397core:RetainedEarningsAccumulatedLosses2023-10-31SC169397core:RetainedEarningsAccumulatedLosses2022-10-31SC169397bus:Director12022-11-012023-10-31SC169397bus:RegisteredOffice2022-11-012023-10-31SC169397core:LandBuildings2022-11-012023-10-31SC169397core:PlantMachinery2022-11-012023-10-31SC169397core:FurnitureFittings2022-11-012023-10-31SC1693972021-11-012022-10-31SC169397core:LandBuildings2022-11-01SC169397core:PlantMachinery2022-11-01SC1693972022-11-01SC169397core:LandBuildings2023-10-31SC169397core:PlantMachinery2023-10-31SC169397core:LandBuildings2022-10-31SC169397core:PlantMachinery2022-10-31SC169397core:CostValuation2022-11-01SC169397core:DisposalsRepaymentsInvestments2023-10-31SC169397core:OtherIncreaseDecreaseInInvestments2023-10-31SC16939712022-11-012023-10-31SC16939712022-11-012023-10-31SC169397countries:Scotland2022-11-012023-10-31SC169397bus:AuditExemptWithAccountantsReport2022-11-012023-10-31SC169397bus:PrivateLimitedCompanyLtd2022-11-012023-10-31SC169397bus:SmallEntities2022-11-012023-10-31SC169397bus:FullAccounts2022-11-012023-10-31
Company registration number:
SC169397
The Broughton Townhouse Ltd
Unaudited Filleted Financial Statements for the year ended
31 October 2023
The Broughton Townhouse Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of The Broughton Townhouse Ltd
Year ended
31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
The Broughton Townhouse Ltd
for the year ended
31 October 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the ICAS, I am subject to its ethical and other professional requirements which are detailed at http://www.icas.com/​accountspreparationguidance.
This report is made solely to the Board of Directors of
The Broughton Townhouse Ltd
, as a body, in accordance with the terms of my engagement letter dated 16 February 2016. My work has been undertaken solely to prepare for your approval the
financial statements
of
The Broughton Townhouse Ltd
and state those matters that I have agreed to state to the Board of Directors of
The Broughton Townhouse Ltd
, as a body, in this report in accordance with the requirements of the ICAS as detailed at http://www.icas.com/​accountspreparationguidance. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
The Broughton Townhouse Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
The Broughton Townhouse Ltd
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 profit of
The Broughton Townhouse Ltd
. You consider that
The Broughton Townhouse Ltd
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of The Broughton Townhouse Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
DBFM
The Stables Studio
Hopetoun House
South Queensferry
West Lothian
EH30 9SL
United Kingdom
Date:
27 August 2024
The Broughton Townhouse Ltd
Statement of Financial Position
31 October 2023
20232022
Note££
Fixed assets    
Tangible assets 5
5,077
 
316,820
 
Investments 6 -  
28,879
 
5,077
 
345,699
 
Current assets    
Debtors 7
61,948
 
4,121
 
Cash at bank and in hand
596,699
 
6,215
 
658,647
 
10,336
 
Creditors: amounts falling due within one year 8
(30,311
)
(33,782
)
Net current assets/(liabilities)
628,336
 
(23,446
)
Total assets less current liabilities 633,413   322,253  
Creditors: amounts falling due after more than one year 9
(12,554
)
(14,633
)
Net assets
620,859
 
307,620
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
620,759
 
307,520
 
Shareholders funds
620,859
 
307,620
 
For the 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 August 2024
, and are signed on behalf of the board by:
Christopher Reis
Director
Company registration number:
SC169397
The Broughton Townhouse Ltd
Notes to the Financial Statements
Year ended
31 October 2023

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
37 Broughton Place
,
Edinburgh
,
EH1 3RR
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when It is technically feasible to complete the intangible asset so that it will be available for use or sale; there is the intention to complete the intangible asset and use or sell it; there is the ability to use or sell the intangible asset; the use or sale of the intangible asset will generate probable future economic benefits; there are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and the expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 50 years
Plant and machinery
33% straight line
Fixtures and fittings
33% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 November 2022
368,189
 
58,158
 
426,347
 
Additions
15,221
  -  
15,221
 
Disposals
(378,858
)
(48,593
)
(427,451
)
At
31 October 2023
4,552
 
9,565
 
14,117
 
Depreciation      
At
1 November 2022
54,891
 
54,636
 
109,527
 
Charge
6,136
 
2,571
 
8,707
 
Disposals
(61,027
)
(48,167
)
(109,194
)
At
31 October 2023
-  
9,040
 
9,040
 
Carrying amount      
At
31 October 2023
4,552
 
525
 
5,077
 
At 31 October 2022
313,298
 
3,522
 
316,820
 

6 Investments

Other investments other than loans
£
Cost  
At
1 November 2022
28,879
 
Disposals
(28,751
)
Other movements
(128
)
At
31 October 2023
-  
Impairment  
At
1 November 2022
and
31 October 2023
-  
Carrying amount  
At
31 October 2023
-  
At 31 October 2022
28,879
 

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20232022
Other investmentsOther investments
££
Aggregate historical cost -   30,601  
Carrying amount -   30,601  

7 Debtors

20232022
££
Trade debtors
79
 
2,799
 
Other debtors
61,869
 
1,322
 
61,948
 
4,121
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
2,486
 
2,486
 
Trade creditors
953
 
1,023
 
Taxation and social security
7,493
 
7,743
 
Other creditors
19,379
 
22,530
 
30,311
 
33,782
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
12,554
 
14,633
 

10 Events after the end of the reporting period

The company previously operated under the name of Reis Short & Co Limited and changed its name to The Broughton Townhouse Limited on 9 February 2024.

11 Directors' advances, credit and guarantees

During the year Chris Reis repaid £19,692 (2022 £25,493) following advances of £19,692 (2022 £25,493).
Susan Reis repaid £16,061 (2022 £25,332) following advances of £16,061 (2022 £25,332).