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REGISTERED NUMBER: SC156602 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 December 2023


for



Baywatch Developments Limited



Baywatch Developments Limited (Registered number: SC156602)








Contents of the Financial Statements

for the year ended 31 December 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





Baywatch Developments Limited



Company Information

for the year ended 31 December 2023









DIRECTORS:

Mrs L Dellanzo


C J Dellanzo







SECRETARY:

C J Dellanzo







REGISTERED OFFICE:

12 Whinhill Gardens


Aberdeen


Grampian


AB11 7WD







REGISTERED NUMBER:

SC156602 (Scotland)







ACCOUNTANTS:

Grampian Accounting


3 Prospect Place


Arnhall Business Park


Westhill


Aberdeenshire


AB32 6SY



Baywatch Developments Limited (Registered number: SC156602)



Balance Sheet

31 December 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

3

2,318


2,668



Investment property

4

567,000


535,000



569,318


537,668




CURRENT ASSETS

Cash at bank

3,992


4,630




CREDITORS

Amounts falling due within one year

5

258,102


158,889



NET CURRENT LIABILITIES

(254,110

)

(154,259

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

315,208


383,409




PROVISIONS FOR LIABILITIES

6

19,599


13,585



NET ASSETS

295,609


369,824




CAPITAL AND RESERVES

Called up share capital

10,000


10,000



Fair value reserve

7

100,834


68,834



Retained earnings

7

184,775


290,990



295,609


369,824




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.



Baywatch Developments Limited (Registered number: SC156602)



Balance Sheet - 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 10 May 2024 and were signed on its behalf by:






C J Dellanzo - Director




Baywatch Developments Limited (Registered number: SC156602)



Notes to the Financial Statements

for the year ended 31 December 2023


1.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


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.


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.

2.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 2 (2022 - NIL ) .



Baywatch Developments Limited (Registered number: SC156602)



Notes to the Financial Statements - continued

for the year ended 31 December 2023


3.

TANGIBLE FIXED ASSETS


Fixtures


and


fittings

£   



COST


At 1 January 2023


and 31 December 2023

13,021




DEPRECIATION


At 1 January 2023

10,353




Charge for year

350




At 31 December 2023

10,703




NET BOOK VALUE


At 31 December 2023

2,318




At 31 December 2022

2,668




4.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 January 2023

535,000




Revaluations

32,000




At 31 December 2023

567,000




NET BOOK VALUE


At 31 December 2023

567,000




At 31 December 2022

535,000





Fair value at 31 December 2023 is represented by:

£   



Valuation in 2009

211,667




Valuation in 2013

35,000




Valuation in 2016

(48,833

)



Valuation in 2017

(33,200

)



Valuation in 2018

(9,550

)



Valuation in 2019

(51,250

)



Valuation in 2020

(20,000

)



Valuation in 2021

(30,000

)



Valuation in 2022

15,000




Valuation in 2023

32,000




Cost

466,166



567,000





Baywatch Developments Limited (Registered number: SC156602)



Notes to the Financial Statements - continued

for the year ended 31 December 2023


5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Taxation and social security

2,156


1,963




Other creditors

255,946


156,926



258,102


158,889




6.

PROVISIONS FOR LIABILITIES


31.12.23


31.12.22

£   

£   



Deferred tax


Accelerated capital allowances

13,585


13,585




Tax losses carried forward

6,014


-



19,599


13,585





Deferred



tax


£   



Balance at 1 January 2023

13,585




Provided during year

6,014




Balance at 31 December 2023

19,599




7.

RESERVES


Fair



Retained


value



earnings


reserve


Totals

£   

£   

£   




At 1 January 2023

290,990


68,834


359,824




Profit for the year

34,412


34,412




Dividends

(108,627

)

(108,627

)



Profit & loss transfer

(32,000

)

32,000


-




At 31 December 2023

184,775


100,834


285,609