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REGISTERED NUMBER: SC364803 (Scotland)















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: Mrs S L Davis
H W McLeay
J S McLeay
J W McLeay





SECRETARY: Mrs S L Davis





REGISTERED OFFICE: Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB





BUSINESS ADDRESS: Upper Seaview
Cornhill
BANFF
AB45 2HJ





REGISTERED NUMBER: SC364803 (Scotland)





ACCOUNTANTS: Atholl Scott
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 18,808 20,621
Tangible assets 5 1,664,035 1,676,260
Investments 6 10,240 10,240
Investment property 7 370,000 370,000
2,063,083 2,077,121

CURRENT ASSETS
Stocks 5,865 3,960
Debtors 8 2,454,336 2,216,795
Cash at bank and in hand 400,530 494,686
2,860,731 2,715,441
CREDITORS
Amounts falling due within one
year

9

(363,185

)

(471,591

)
NET CURRENT ASSETS 2,497,546 2,243,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,560,629

4,320,971

PROVISIONS FOR LIABILITIES (95,978 ) (75,477 )
NET ASSETS 4,464,651 4,245,494

CAPITAL AND RESERVES
Called up share capital 73 73
Capital redemption reserve 27 27
Fair value reserve 11 6,594 6,594
Retained earnings 4,457,957 4,238,800
SHAREHOLDERS' FUNDS 4,464,651 4,245,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Bachlaw Limited (Registered number: SC364803)

Balance Sheet - continued
30 September 2023


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 26 August 2024 and were signed on its behalf by:




H W McLeay - Director Mrs S L Davis - Director




J S McLeay - Director J W McLeay - Director


Bachlaw Limited (Registered number: SC364803)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Bachlaw 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Structures - 2% on cost
Improvements to property - 10% on cost
Boat - Straight line over 15 years
Farming equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

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 31 (2022 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Fishing
licence
£   
COST
At 1 October 2022
and 30 September 2023 33,600
AMORTISATION
At 1 October 2022 12,979
Amortisation for year 1,813
At 30 September 2023 14,792
NET BOOK VALUE
At 30 September 2023 18,808
At 30 September 2022 20,621

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 822,341 789,306 33,350 430,724
Additions 1,374 3,331 - 50,592
Disposals (81,545 ) - (13,653 ) -
At 30 September
2023

742,170

792,637

19,697

481,316
DEPRECIATION
At 1 October 2022 141,717 127,487 5,994 403,912
Charge for year 14,845 15,853 1,037 23,421
Eliminated on disposal (9,619 ) - (2,080 ) -
At 30 September
2023

146,943

143,340

4,951

427,333
NET BOOK VALUE
At 30 September
2023

595,227

649,297

14,746

53,983
At 30 September
2022

680,624

661,819

27,356

26,812

Farming Motor
Boat equipment vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 92,223 189,681 193,296 100,409 2,651,330
Additions 5,517 17,620 173,303 11,425 263,162
Disposals - (1,740 ) (151,018 ) (11,185 ) (259,141 )
At 30 September
2023

97,740

205,561

215,581

100,649

2,655,351
DEPRECIATION
At 1 October 2022 36,430 75,998 129,442 54,090 975,070
Charge for year 6,519 19,534 46,268 8,206 135,683
Eliminated on disposal - (672 ) (98,929 ) (8,137 ) (119,437 )
At 30 September
2023

42,949

94,860

76,781

54,159

991,316
NET BOOK VALUE
At 30 September
2023

54,791

110,701

138,800

46,490

1,664,035
At 30 September
2022

55,793

113,683

63,854

46,319

1,676,260

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 10,240
NET BOOK VALUE
At 30 September 2023 10,240
At 30 September 2022 10,240

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 370,000
NET BOOK VALUE
At 30 September 2023 370,000
At 30 September 2022 370,000

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 179,873 196,825
Loans 2,211,869 1,954,785
Directors' loan accounts 900 900
Prepayments 61,694 64,285
2,454,336 2,216,795

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 25,680 25,284
Tax 29,072 81,422
PAYE 40,256 38,227
Prepaid income 243,082 292,485
Accrued expenses 25,095 34,173
363,185 471,591

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 6,594

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
£    £   
J W McLeay
Balance outstanding at start of year 900 900
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 900 900

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.






Atholl Scott
Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB


2 September 2024