REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Bachlaw Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Bachlaw Limited |
Bachlaw Limited (Registered number: SC364803) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 10 |
Bachlaw Limited |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Victoria House |
13 Victoria Street |
ABERDEEN |
AB10 1XB |
Bachlaw Limited (Registered number: SC364803) |
Balance Sheet |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
9 |
( |
) |
( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Bachlaw Limited (Registered number: SC364803) |
Balance Sheet - continued |
30 September 2023 |
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 |
Bachlaw Limited (Registered number: SC364803) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Bachlaw Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable for services rendered during the year. |
Fishing licence |
The fishing licence is being amortised evenly over its estimated useful life of 15 years. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of 10 years. |
Tangible fixed assets |
Freehold property | - |
Structures | - |
Improvements to property | - |
Boat | - |
Farming equipment | - |
Motor vehicles | - |
Equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Bachlaw Limited (Registered number: SC364803) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Fishing |
licence |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
Amortisation for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
The intangible asset relates to an entitlement for a registered vessel of 4.1 tonnes, 97kws, licence to have a shellfish entitlement. |
Bachlaw Limited (Registered number: SC364803) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to |
property | Structures | Horses | property |
£ | £ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Farming | Motor |
Boat | equipment | vehicles | Equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Bachlaw Limited (Registered number: SC364803) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
and 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2020 | 6,594 |
Cost | 363,406 |
370,000 |
If investment properties had not been revalued it would have been included at the following historical cost: |
30.9.23 | 30.9.22 |
£ | £ |
Cost | 386,602 | 386,602 |
Aggregate depreciation | (67,096 | ) | (59,364 | ) |
Investment properties were valued on an open market basis on 30 September 2020 by DM Hall Chartered Surveyors . |
The investment properties were not re-valued by an independent valuer at the balance sheet date, in the opinion of the directors the value of the investment properties has not altered since the last independent valuation in September 2020. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Loans | 2,211,869 | 1,954,785 |
Directors' loan accounts | 900 | 900 |
Prepayments |
Bachlaw Limited (Registered number: SC364803) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade creditors |
Tax |
PAYE |
Prepaid income |
Accrued expenses |
10. | SECURED DEBTS |
Royal Bank of Scotland plc hold the following security: |
A Bond and Floating charge over the assets of the company. |
A standard security over the property at Upper Seaview, Glenbarry, Cornhill, Banff. |
A standard security over the property at "Milden", 28 Seafield Street, Banff. |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 October 2022 |
and 30 September 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022: |
30.9.23 | 30.9.22 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Advances and repayments during the year have been summarised. The above loan is unsecured, interest free and repayable on demand. |
Bachlaw Limited (Registered number: SC364803) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
13. | RELATED PARTY DISCLOSURES |
During the year the company increased the amount loaned to Brighter Horizons (Bachlaw) Limited (a not-for-profit company limited by guarantee) by £132 leaving a balance of £229,966 (2022 £229,834). This loan is unsecured, interest free and repayable on demand. |
There was no movement in the loan to Home Bakery (Macduff) Ltd (100% subsidiary) during the year. The balance in 2023 and 2022 was £624,790 and this loan is unsecured, interest free and repayable on demand. |
During the year the company increased the amount loaned to the Fife Lodge Hotel Ltd (100% subsidiary) by £107,000 leaving a balance of £957,449 (2022 £850,449). This loan is unsecured, interest free and repayable on demand. |
Bachlaw Limited |
Report of the Accountants to the Directors of |
Bachlaw Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2023 set out on pages three to twelve and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Board of Directors of the company, as a body, in this report in accordance with the requirements of the Institute of Financial Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities and financial position of the company. You consider that the company is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Victoria House |
13 Victoria Street |
ABERDEEN |
AB10 1XB |