1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,680 8,680 xbrli:pure xbrli:shares iso4217:GBP SC140978 2023-03-01 2024-02-29 SC140978 2024-02-29 SC140978 2023-02-28 SC140978 2022-03-01 2023-02-28 SC140978 2023-02-28 SC140978 2022-02-28 SC140978 bus:Director1 2023-03-01 2024-02-29 SC140978 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 SC140978 core:WithinOneYear 2024-02-29 SC140978 core:WithinOneYear 2023-02-28 SC140978 core:ShareCapital 2024-02-29 SC140978 core:ShareCapital 2023-02-28 SC140978 core:RevaluationReserve 2024-02-29 SC140978 core:RevaluationReserve 2023-02-28 SC140978 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC140978 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC140978 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 SC140978 bus:SmallEntities 2023-03-01 2024-02-29 SC140978 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC140978 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC140978 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC140978 bus:FullAccounts 2023-03-01 2024-02-29 SC140978 core:IntangibleAssetsOtherThanGoodwill 2023-02-28 SC140978 core:FurnitureFittingsToolsEquipment 2024-02-29 SC140978 core:FurnitureFittingsToolsEquipment 2023-02-28 SC140978 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: SC140978
Burnhaven Properties Limited
Filleted Unaudited Financial Statements
29 February 2024
Burnhaven Properties Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
( 8,680)
Tangible assets
6
341,580
342,102
---------
---------
341,580
333,422
Current assets
Debtors
7
351,168
436,328
Cash at bank and in hand
60,865
190,965
---------
---------
412,033
627,293
Creditors: amounts falling due within one year
8
19,004
48,910
---------
---------
Net current assets
393,029
578,383
---------
---------
Total assets less current liabilities
734,609
911,805
---------
---------
Burnhaven Properties Limited
Statement of Financial Position (continued)
29 February 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
5,000
5,000
Revaluation reserve
184,457
184,457
Profit and loss account
545,152
722,348
---------
---------
Shareholders funds
734,609
911,805
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 29 February 2024 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 were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr A B Murray
Director
Company registration number: SC140978
Burnhaven Properties Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Jasmine Cottage, Woodside Place, Banchory, AB31 5XW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation charge represents the sum of the tax currently payable.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25-33% per annum
Impairment of fixed assets
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Capital grants
£
Cost
At 1 March 2023
( 8,680)
Additions
Transfers
8,680
-------
At 29 February 2024
-------
Amortisation
At 1 March 2023 and 29 February 2024
-------
Carrying amount
At 29 February 2024
-------
At 28 February 2023
( 8,680)
-------
6. Tangible assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
340,538
9,783
350,321
---------
-------
---------
Depreciation
At 1 March 2023
8,219
8,219
Charge for the year
522
522
---------
-------
---------
At 29 February 2024
8,741
8,741
---------
-------
---------
Carrying amount
At 29 February 2024
340,538
1,042
341,580
---------
-------
---------
At 28 February 2023
340,538
1,564
342,102
---------
-------
---------
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
351,168
436,328
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
19,004
48,910
--------
--------
Included in creditors is a loan balance of £4,578 (£27,390 - 2023) due by the company to the director, Mr A B Murray .