0 01/02/2023 31/01/2024 2024-01-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-02-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC584868 2023-02-01 2024-01-31 SC584868 2024-01-31 SC584868 2023-01-31 SC584868 2022-02-01 2023-01-31 SC584868 2023-01-31 SC584868 2022-01-31 SC584868 bus:RegisteredOffice 2023-02-01 2024-01-31 SC584868 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC584868 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 SC584868 bus:Director1 2023-02-01 2024-01-31 SC584868 bus:Director2 2023-02-01 2024-01-31 SC584868 bus:Director3 2023-02-01 2024-01-31 SC584868 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 SC584868 core:WithinOneYear 2024-01-31 SC584868 core:WithinOneYear 2023-01-31 SC584868 core:ShareCapital 2024-01-31 SC584868 core:ShareCapital 2023-01-31 SC584868 core:RevaluationReserve 2024-01-31 SC584868 core:RevaluationReserve 2023-01-31 SC584868 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC584868 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC584868 bus:OrdinaryShareClass1 core:ShareCapital 2024-01-31 SC584868 bus:OrdinaryShareClass1 core:ShareCapital 2023-01-31 SC584868 core:DeferredTaxation 2023-02-01 2024-01-31 SC584868 core:RevaluationPropertyPlantEquipmentDeferredTax 2023-01-31 SC584868 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 SC584868 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 SC584868 core:DeferredTaxation 2023-01-31 SC584868 core:DeferredTaxation 2024-01-31 SC584868 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC584868 bus:SmallEntities 2023-02-01 2024-01-31 SC584868 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC584868 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC584868 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC584868 bus:FullAccounts 2023-02-01 2024-01-31 SC584868 core:OtherProvisionsContingentLiabilities 2023-01-31 SC584868 core:OtherProvisionsContingentLiabilities 2024-01-31
Company registration number: SC584868
Bandeath Holdings Limited
Unaudited filleted financial statements
31 January 2024
Bandeath Holdings Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Bandeath Holdings Limited
Directors and other information
Directors Brian Duffy
Gerard Woods
Jeffrey Bevins
Company number SC584868
Registered office 29 York Place
Edinburgh
EH1 3HP
Accountants McDonald Gordon & Co Ltd
29 York Place
Edinburgh
EH1 3HP
Bandeath Holdings Limited
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 2,500,000 3,000,000
_______ _______
2,500,000 3,000,000
Current assets
Debtors 5 4,845 4,298
Cash at bank and in hand 495 8,885
_______ _______
5,340 13,183
Creditors: amounts falling due
within one year 6 ( 234,629) ( 229,237)
_______ _______
Net current liabilities ( 229,289) ( 216,054)
_______ _______
Total assets less current liabilities 2,270,711 2,783,946
Provisions for liabilities 7 ( 854,903) ( 967,403)
_______ _______
Net assets 1,415,808 1,816,543
_______ _______
Capital and reserves
Called up share capital 9 1,112 1,000
Revaluation reserve 2,269,830 2,769,830
Profit and loss account ( 855,134) ( 954,287)
_______ _______
Shareholders funds 1,415,808 1,816,543
_______ _______
For the year ending 31 January 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 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.
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
Brian Duffy
Director
Company registration number: SC584868
Bandeath Holdings Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 29 York Place, Edinburgh, EH1 3HP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Land - Nil
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash at bank and in hand includes cash and short term highly liquid investments.Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
4. Tangible assets
Freehold property Total
£ £
Cost or valuation
At 1 February 2023 3,000,000 3,000,000
Revaluation ( 500,000) ( 500,000)
_______ _______
At 31 January 2024 2,500,000 2,500,000
_______ _______
Depreciation
At 1 February 2023 and 31 January 2024 - -
_______ _______
Carrying amount
At 31 January 2024 2,500,000 2,500,000
_______ _______
At 31 January 2023 3,000,000 3,000,000
_______ _______
5. Debtors
2024 2023
£ £
Other debtors 4,845 4,298
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 41,516 45,555
Corporation tax 4,563 4,563
Social security and other taxes 7,307 6,951
Other creditors 181,243 172,168
_______ _______
234,629 229,237
_______ _______
7. Provisions
Contingent liability Deferred tax (note 8) Total
£ £ £
At 1 February 2023 385,000 582,403 967,403
Charges against provisions - ( 112,500) ( 112,500)
_______ _______ _______
At 31 January 2024 385,000 469,903 854,903
_______ _______ _______
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 7) 469,903 582,403
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Revaluation of tangible assets - 582,403
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares shares of £ 1.00 each 1,112 1,112 1,000 1,000
_______ _______ _______ _______
10. Directors advances, credits and guarantees
Included in other creditors is loan from the directors to the company of £69,218 (2023: £107,718). The loans are interest free and repayable on demand.
11. Related party transactions
Included in other debtors is a loan from the company to Thistle Power Solutions Ltd of £4,164 (2023: £2,224) . The directors of Bandeath Holdings Ltd, Brian Duffy and Gerard Woods , are also directors of this company. The loan is interest free and has no fixed repayment terms.