Company Registration No. SC779852 (Scotland)
Bain Properties Ltd
Unaudited accounts
for the period from 21 August 2023 to 31 August 2024
Bain Properties Ltd
Unaudited accounts
Contents
Bain Properties Ltd
Company Information
for the period from 21 August 2023 to 31 August 2024
Director
Jason Dransfield Bain
Company Number
SC779852 (Scotland)
Registered Office
8 Tough Avenue
St. Fergus
Peterhead
AB42 3GB
Scotland
Bain Properties Ltd
Statement of financial position
as at 31 August 2024
Investment property
295,000
Cash at bank and in hand
42,810
Creditors: amounts falling due within one year
(127,433)
Net current liabilities
(79,672)
Total assets less current liabilities
215,328
Creditors: amounts falling due after more than one year
(164,003)
Provisions for liabilities
Profit and loss account
(14,876)
Shareholders' funds
41,573
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 April 2025 and were signed on its behalf by
Jason Dransfield Bain
Director
Company Registration No. SC779852
Bain Properties Ltd
Notes to the Accounts
for the period from 21 August 2023 to 31 August 2024
Bain Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC779852. The registered office is 8 Tough Avenue, St. Fergus, Peterhead, AB42 3GB, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Net gain from fair value adjustments
69,689
The historic cost of the above investment properties totals £225,311. The fair value of the properties has been arrived at by the director of the company on 31 August 2024 on a market value basis.
Bain Properties Ltd
Notes to the Accounts
for the period from 21 August 2023 to 31 August 2024
Amounts falling due within one year
Accrued income and prepayments
4,601
6
Creditors: amounts falling due within one year
2024
Loans from directors
127,433
7
Creditors: amounts falling due after more than one year
2024
The other loans are secured over the properties to which they relate. The director has also provided personal guarantees in relation to these.
8
Transactions with related parties
At the balance sheet date, the company owed £127,433 to the director. The loan is unsecured, interest-free and repayable on demand.
9
Average number of employees
During the period the average number of employees was 0.