REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
FOR |
BAROCHAN DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
FOR |
BAROCHAN DEVELOPMENTS LIMITED |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BAROCHAN DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
213 St Vincent Street |
Glasgow |
G2 5QY |
BANKERS: |
235 Sauchiehall Street |
Glasgow |
G2 3EY |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
BALANCE SHEET |
28 FEBRUARY 2025 |
2025 | 2024 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
BALANCE SHEET - continued |
28 FEBRUARY 2025 |
The financial statements were approved by the director and authorised for issue on |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
1. | STATUTORY INFORMATION |
Barochan Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover in respect of sales of property is recognised on the irrevocable exchange of terms between buyer and seller. |
Other operating income relates to rental income received. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Plant and machinery etc -20% on reducing balance and 15% on cost. |
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. |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including certain creditors and loans from related undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2024 |
and 28 February 2025 |
DEPRECIATION |
At 1 March 2024 |
Charge for year |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2024 |
Disposals | ( |
) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
Fair value at 28 February 2025 is represented by: |
£ |
Valuation in 2015 | 39,170 |
Cost | 590,830 |
630,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2025 | 2024 |
£ | £ |
Cost | 590,829 | 770,830 |
Investment Property was valued on an open market basis on 28 February 2025 by the director . |
BAROCHAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC285117) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Bank loans and overdrafts |
Trade creditors | ( |
) |
Taxation and social security | ( |
) | ( |
) |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Bank loans |
Other creditors |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 March 2024 |
and 28 February 2025 |