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REGISTERED NUMBER: SC335116 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Braeside Business Developments Limited

Braeside Business Developments Limited (Registered number: SC335116)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Braeside Business Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr N D Collie
Mrs J B Collie





SECRETARY: Burnett & Reid





REGISTERED OFFICE: 15 Golden Square
Aberdeen
AB10 1WF





REGISTERED NUMBER: SC335116 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

Braeside Business Developments Limited (Registered number: SC335116)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,589 4,707
Investments 6 55,500 55,500
Investment property 7 60,000 80,000
119,089 140,207

CURRENT ASSETS
Debtors 8 4,615 3,922
Cash at bank 20,269 42,852
24,884 46,774
CREDITORS
Amounts falling due within one year 9 1,808 6,141
NET CURRENT ASSETS 23,076 40,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,165

180,840

PROVISIONS FOR LIABILITIES 897 894
NET ASSETS 141,268 179,946

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 141,266 179,944
SHAREHOLDERS' FUNDS 141,268 179,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Braeside Business Developments Limited (Registered number: SC335116)

Statement of Financial Position - continued
31 December 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 28 August 2024 and were signed on its behalf by:





Mr N D Collie - Director


Braeside Business Developments Limited (Registered number: SC335116)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Braeside Business Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover represents sales of services during the period. It is net of discounts, allowances and promotional rebates. Sales are recognised when the company has delivered the product to the customer and the customer has accepted the products and the collectability of the related receivable is reasonably assured.

Rental income and management fee income received by the company is included in the period to which it relates.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under a finance lease, over the lease term, whichever is shorter.

Buildings - 5% on cost.
Plant and machinery - 20% on reducing balance.
Computer Equipment - 33.33% on cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise.

Financial instruments
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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 statement of financial position date.

Braeside Business Developments Limited (Registered number: SC335116)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Consolidation
In the opinion of the directors, the company is part of a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

The accounts present information about the company as an individual undertaking and not about its group.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 5,250 1,704 6,954
DEPRECIATION
At 1 January 2023 921 1,326 2,247
Charge for year 866 252 1,118
At 31 December 2023 1,787 1,578 3,365
NET BOOK VALUE
At 31 December 2023 3,463 126 3,589
At 31 December 2022 4,329 378 4,707

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 50,000 5,500 55,500
NET BOOK VALUE
At 31 December 2023 50,000 5,500 55,500
At 31 December 2022 50,000 5,500 55,500

Braeside Business Developments Limited (Registered number: SC335116)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 80,000
Impairments (20,000 )
At 31 December 2023 60,000
NET BOOK VALUE
At 31 December 2023 60,000
At 31 December 2022 80,000

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 (7,000 )
Valuation in 2023 (20,000 )
Cost 87,000
60,000

If Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 87,000 87,000

Investment property was valued on an open market basis on 31 December 2023 by the Directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests - 558
Other debtors 4,615 3,364
4,615 3,922

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 1,808 6,141