IRIS Accounts Production v24.3.2.46 SC255618 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2556182023-06-30SC2556182024-06-30SC2556182023-07-012024-06-30SC2556182022-06-30SC2556182022-07-012023-06-30SC2556182023-06-30SC255618ns15:Scotland2023-07-012024-06-30SC255618ns14:PoundSterling2023-07-012024-06-30SC255618ns10:Director12023-07-012024-06-30SC255618ns10:PrivateLimitedCompanyLtd2023-07-012024-06-30SC255618ns10:SmallEntities2023-07-012024-06-30SC255618ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-30SC255618ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-30SC255618ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-30SC255618ns10:FullAccounts2023-07-012024-06-30SC255618ns10:RegisteredOffice2023-07-012024-06-30SC255618ns5:CurrentFinancialInstruments2024-06-30SC255618ns5:CurrentFinancialInstruments2023-06-30SC255618ns5:ShareCapital2024-06-30SC255618ns5:ShareCapital2023-06-30SC255618ns5:RevaluationReserve2024-06-30SC255618ns5:RevaluationReserve2023-06-30SC255618ns5:RetainedEarningsAccumulatedLosses2024-06-30SC255618ns5:RetainedEarningsAccumulatedLosses2023-06-30SC255618ns5:LandBuildings2023-06-30SC255618ns5:LandBuildings2024-06-30SC255618ns5:LandBuildings2023-06-30SC255618ns5:RetainedEarningsAccumulatedLosses2023-06-30SC255618ns5:RevaluationReserve2023-06-30SC255618ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30
REGISTERED NUMBER: SC255618 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Brookglen Limited

Brookglen Limited (Registered number: SC255618)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brookglen Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: S Ahmad





REGISTERED OFFICE: 4 The Beeches
Brookfield
Johnstone
PA5 8UZ





REGISTERED NUMBER: SC255618 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Brookglen Limited (Registered number: SC255618)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,365,159 6,365,159

CURRENT ASSETS
Debtors 5 193,501 120,864
Cash at bank 932,917 688,541
1,126,418 809,405
CREDITORS
Amounts falling due within one year 6 (433,742 ) (393,878 )
NET CURRENT ASSETS 692,676 415,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,057,835

6,780,686

PROVISIONS FOR LIABILITIES (17,529 ) (17,529 )
NET ASSETS 7,040,306 6,763,157

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 921,696 921,696
Retained earnings 7 6,118,510 5,841,361
SHAREHOLDERS' FUNDS 7,040,306 6,763,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Brookglen Limited (Registered number: SC255618)

Balance Sheet - continued
30 June 2024


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 director and authorised for issue on 12 February 2025 and were signed by:





S Ahmad - Director


Brookglen Limited (Registered number: SC255618)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Brookglen 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. 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 rent receivable from investment properties net of VAT. All turnover which is from continuing operations is attributable to the principal activity.

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

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.


Brookglen Limited (Registered number: SC255618)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

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.

Investment properties
Investment properties are reported at fair value, with any movements being recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Investment
property
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 6,365,159
NET BOOK VALUE
At 30 June 2024 6,365,159
At 30 June 2023 6,365,159

The valuation of investment properties were made at 30 June 2024 by the directors on an open market basis.

On a historical cost basis these properties would have been included at original cost of £5,627,863 (2023: £5,627,863).

If the properties were sold at fair value, potential tax of £17,530 would arise (2023: £17,530).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 193,501 120,864

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Corporation tax 91,834 129,922
Other creditors 341,908 263,956
433,742 393,878

Brookglen Limited (Registered number: SC255618)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 5,841,361 921,696 6,763,057
Profit for the year 277,149 277,149
At 30 June 2024 6,118,510 921,696 7,040,206

8. RELATED PARTY DISCLOSURES

Loans from the director together with members of his immediate family can be summarised as follows:


As at
01/07/23

Movement
As at
30/06/24
£ £ £
Saeed Ahmad 192,308 50,484 242,792

192,308 50,484 242,792

These loans are included in Creditors amounts falling due within one year.