2023-05-24 2024-05-31 false Capium Accounts Production 1.1 SC770474 2023-05-24 2024-05-31 SC770474 bus:FullAccounts 2023-05-24 2024-05-31 SC770474 bus:FRS102 2023-05-24 2024-05-31 SC770474 bus:AuditExempt-NoAccountantsReport 2023-05-24 2024-05-31 SC770474 bus:SmallCompaniesRegimeForAccounts 2023-05-24 2024-05-31 SC770474 bus:PrivateLimitedCompanyLtd 2023-05-24 2024-05-31 SC770474 2023-05-24 2024-05-31 SC770474 2024-05-31 SC770474 bus:RegisteredOffice 2023-05-24 2024-05-31 SC770474 core:WithinOneYear 2024-05-31 SC770474 core:AfterOneYear 2024-05-31 SC770474 1 2023-05-24 2024-05-31 SC770474 bus:Director1 2023-05-24 2024-05-31 SC770474 bus:Director1 2024-05-31 SC770474 bus:Director2 2023-05-24 2024-05-31 SC770474 bus:Director2 2024-05-31 SC770474 bus:Director3 2023-05-24 2024-05-31 SC770474 bus:Director3 2024-05-31 SC770474 2022-05-24 SC770474 bus:LeadAgentIfApplicable 2023-05-24 2024-05-31 SC770474 2023-05-23 SC770474 core:InvestmentProperties 2023-05-24 2024-05-31 SC770474 core:InvestmentProperties 2024-05-31 SC770474 core:InvestmentProperties 2023-05-23 SC770474 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-05-31 SC770474 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-05-23 SC770474 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 SC770474 core:CostValuation core:Non-currentFinancialInstruments 2023-05-23 SC770474 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-05-31 SC770474 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2024-05-31 SC770474 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2024-05-31 SC770474 core:Non-currentFinancialInstruments 2024-05-31 SC770474 core:Non-currentFinancialInstruments 2023-05-23 SC770474 core:ShareCapital 2024-05-31 SC770474 core:RevaluationReserve 2024-05-31 SC770474 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC770474 dpl:Item1 2023-05-24 SC770474 dpl:Item1 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: SC770474
Scotland

 

 

 

BRICK LANE REALTY LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 24 May 2023

End date: 31 May 2024
Directors Devika BANTAWA
Deepti MISRA
Harpreet Singh SAINI
Registered Number SC770474
Registered Office 21B DEE STREET
ABERDEEN SCOTLAND
AB11 6AW
Accountants Magnus Accounting Limited
Chartered Accountants
Office 2,
Westhill Business Centre,
Arnhall Business Park,
AB32 6UF
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 May 2024
Principal activities
The companys principal activity during the year was Other letting and operating of own or leased real estate.
Directors
The directors who served the company throughout the period were as follows:
Devika BANTAWA
Deepti MISRA
Harpreet Singh SAINI
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Harpreet Singh SAINI
Director
----------------------------------
Devika BANTAWA
Director
----------------------------------
Deepti MISRA
Director

Date approved: 18 May 2025
2
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 483,073 
483,073 
Current assets    
Debtors 4 24,912 
Cash at bank and in hand 17,170 
42,082 
Creditors: amount falling due within one year 5 (298,215)
Net current assets (256,133)
 
Total assets less current liabilities 226,940 
Creditors: amount falling due after more than one year 6 (216,865)
Provisions for liabilities 7 (6,684)
Net assets 3,391 
 

Capital and reserves
   
Called up share capital 300 
Reserves 8 26,734 
Profit and loss account (23,643)
Shareholders' funds 3,391 
 


For the period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 May 2025 and were signed on its behalf by:


-------------------------------
Harpreet Singh SAINI
Director
-------------------------------
Devika BANTAWA
Director
-------------------------------
Deepti MISRA
Director
3
General Information
BRICK LANE REALTY LIMITED is a private company, limited by shares, registered in Scotland, registration number SC770474, registration address 21B DEE STREET, ABERDEEN SCOTLAND, AB11 6AW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a 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 the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank balance.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
2.

Average number of employees

Average number of employees during the period was 3.
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 24 May 2023  
Additions 456,339    456,339 
Disposals  
Revaluations 26,734    26,734 
At 31 May 2024 483,073    483,073 
Depreciation
At 24 May 2023  
Charge for period  
On disposals  
At 31 May 2024  
Net book values
Closing balance as at 31 May 2024 483,073    483,073 
Opening balance as at 24 May 2023  

Investment property comprises a small number of properties in Aberdeen. The company has used an historical cost method plus subsequent revaluation method to determine the value per the accounts.

The historical cost of the property is £456,339. The company has used an historical cost method plus subsequent revaluation method to determine the value per the financial statements.

4.

Debtors: amounts falling due within one year

2024
£
Prepayments & Accrued Income 1,332 
Other Debtors 23,580 
24,912 

5.

Creditors: amount falling due within one year

2024
£
Bank Loans & Overdrafts (Secured) 116,120 
Accrued Expenses 1,629 
Other Creditors 53,868 
Directors' Current Accounts 126,598 
298,215 
Bank loans
As at end of 31 May 2024, the company's bank finance facility, secured by a charge over specific properties included borrowings as below :
> Of the Creditors : amount falling due after more than one year, the following amounts £116,120 are secured by a charge, with interest accrued and paid on monthly basis at an interest rates between 3.14% to 3.23% p.a..

6.

Creditors: amount falling due after more than one year

2024
£
Bank Loans & Overdrafts (secured) 216,865 
216,865 
Bank loans
As at end of 31 May 2024, the company's bank finance facility, secured by a charge over specific properties included borrowings as below :
> Of the Creditors : amount falling due after more than one year, the following principal borrowings of £236,250 are secured by a charge, with interest accrued and paid on monthly basis at an interest rate of 5.14% p.a..   Included within bank loans are capitalised arrangement fees of £19,500 in respect of the company's external bank loan, which are being amortised over the period of the loan.

7.

Provisions for liabilities

2024
£
Deferred Tax 6,684 
6,684 

8.

Reserves

2024
£
Transfers to/from Other Reserves 26,734 
26,734 

9.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
4