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REGISTERED NUMBER: SC700382 (Scotland)















Financial Statements for the Year Ended 30 June 2024

for

Breiwick Bay Limited

Breiwick Bay Limited (Registered number: SC700382)






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


Breiwick Bay Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: S Dunne





REGISTERED OFFICE: 18 North Silver Street
Aberdeen
AB10 1JU





REGISTERED NUMBER: SC700382 (Scotland)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

Breiwick Bay Limited (Registered number: SC700382)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 755,000 700,000

CURRENT ASSETS
Debtors 5 1,566 575
Cash at bank 9,580 577
11,146 1,152
CREDITORS
Amounts falling due within one year 6 330,445 226,363
NET CURRENT LIABILITIES (319,299 ) (225,211 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,701

474,789

CREDITORS
Amounts falling due after more than one
year

7

(291,219

)

(296,405

)

PROVISIONS FOR LIABILITIES (29,054 ) (33,880 )
NET ASSETS 115,428 144,504

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 9 306,949 295,342
Retained earnings (191,531 ) (150,848 )
115,428 144,504

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.

Breiwick Bay Limited (Registered number: SC700382)

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 26 March 2025 and were signed by:





S Dunne - Director


Breiwick Bay Limited (Registered number: SC700382)

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

1. STATUTORY INFORMATION

Breiwick Bay 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.

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

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.

3. EMPLOYEES AND DIRECTORS

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

Breiwick Bay Limited (Registered number: SC700382)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 700,000
Additions 40,670
Revaluations 14,330
At 30 June 2024 755,000
NET BOOK VALUE
At 30 June 2024 755,000
At 30 June 2023 700,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 115,203
Valuation in 2023 249,416
Valuation in 2024 14,330
Cost 376,051
755,000

If investment properties had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 376,051 335,381

Investment properties were valued on an open market basis on 30 June 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 1,566 575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,187 5,187
Trade creditors 482 482
Other creditors 324,776 220,694
330,445 226,363

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 291,219 296,405

Breiwick Bay Limited (Registered number: SC700382)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 270,471 275,657

8. SECURED DEBTS

The loan is secured by a standard security over the six flatted dwelling houses on the first, second and attic floors of the building 5 Chapel Court, 1-9 Justice Street, Aberdeen.

9. RESERVES
Fair
value
reserve
£   
At 1 July 2023 295,342
Transfer to/(from) Profit and Loss account 11,607

At 30 June 2024 306,949