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Registration number: SC638851

BLCP Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

BLCP Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

BLCP Developments Ltd

Company Information

Director

Mr Lee Buchanan

Registered office

20 Lumphinnans Road
Lochgelly
KY5 9AR

Accountants

Ross McConnell
Chartered Accountant3 High Street
Kinross
KY13 8AW

 

BLCP Developments Ltd

(Registration number: SC638851)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

6,086

-

Investment property

5

90,100

90,100

 

96,186

90,100

Current assets

 

Stocks

6

44,300

44,300

Debtors

7

855

4,382

Cash at bank and in hand

 

6,432

29,939

 

51,587

78,621

Creditors: Amounts falling due within one year

8

(126,032)

(131,246)

Net current liabilities

 

(74,445)

(52,625)

Total assets less current liabilities

 

21,741

37,475

Creditors: Amounts falling due after more than one year

8

(29,859)

(31,895)

Net (liabilities)/assets

 

(8,118)

5,580

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

(8,120)

5,578

Shareholders' (deficit)/funds

 

(8,118)

5,580

 

BLCP Developments Ltd

(Registration number: SC638851)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2025
 

.........................................
Mr Lee Buchanan
Director

 

BLCP Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The address of its registered office is:
20 Lumphinnans Road
Lochgelly
KY5 9AR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

BLCP Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicle

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

BLCP Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible Assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

7,633

7,633

At 31 August 2024

7,633

7,633

Depreciation

Charge for the year

1,547

1,547

At 31 August 2024

1,547

1,547

Carrying amount

At 31 August 2024

6,086

6,086

5

Investment properties

2024
£

At 1 September

90,100

At 31 August

90,100

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Work in progress

44,300

44,300

 

BLCP Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Debtors

Current

2024
£

2023
£

Other debtors

855

4,382

 

855

4,382

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

123,507

129,747

Taxation and social security

 

154

-

Accruals and deferred income

 

1,500

1,500

Other creditors

 

871

(1)

 

126,032

131,246

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

29,859

31,895

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2