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REGISTERED NUMBER: SC060790 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Bellair (Scotland) Limited

Bellair (Scotland) Limited (Registered number: SC060790)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Bellair (Scotland) Limited (Registered number: SC060790)

Balance Sheet
30 November 2024

30.11.24 30.11.23
as restated
Notes £    £   
FIXED ASSETS
Investments 4 150,050 349,850

CURRENT ASSETS
Stocks 2,217,976 3,499,395
Debtors 5 2,370,229 2,542,938
Cash at bank 1,369,722 625,343
5,957,927 6,667,676
CREDITORS
Amounts falling due within one year 6 (50,595 ) (319,864 )
NET CURRENT ASSETS 5,907,332 6,347,812
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,057,382

6,697,662

CREDITORS
Amounts falling due after more than one year 7 (500,000 ) (1,082,500 )
NET ASSETS 5,557,382 5,615,162

CAPITAL AND RESERVES
Called up share capital 186,742 186,742
Retained earnings 5,370,640 5,428,420
5,557,382 5,615,162

Bellair (Scotland) Limited (Registered number: SC060790)

Balance Sheet - continued
30 November 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

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 15 April 2025 and were signed on its behalf by:





Mr C G Campbell - Director


Bellair (Scotland) Limited (Registered number: SC060790)

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

1. STATUTORY INFORMATION

Bellair (Scotland) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC060790. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX.

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.

Turnover
Turnover represents net invoiced sales of goods and services in respect of property development and letting, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bellair (Scotland) Limited (Registered number: SC060790)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and
subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company . Control is the power to govern the financial and
operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has
significant influence where it has the power to participate in the financial and operating decisions of the
associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2023 349,850
Disposals (199,800 )
At 30 November 2024 150,050
NET BOOK VALUE
At 30 November 2024 150,050
At 30 November 2023 349,850

Bellair (Scotland) Limited (Registered number: SC060790)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
as restated
£    £   
Trade debtors 476 11,007
Amounts owed by related parties 2,211,814 2,315,332
Other debtors 157,939 216,599
2,370,229 2,542,938

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
as restated
£    £   
Trade creditors 6,917 86,294
Taxation and social security - (34,335 )
Other creditors 43,678 267,905
50,595 319,864

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
as restated
£    £   
Bank loans 500,000 1,082,500

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
as restated
£    £   
Bank loans 500,000 1,082,500

The bank loan provided by Handelsbanken PLC is secured by way of a floating charge and a standard security over certain assets of the company.

Bellair (Scotland) Limited (Registered number: SC060790)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
as restated
£    £   
Ms L Crafts
Balance outstanding at start of year - -
Amounts advanced 18,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,000 -

10. RELATED PARTY DISCLOSURES

At the year end the amount owed to the company was £2,211,814 (2023: £2,315,332), from companies with shared directors and shareholders.