Company Registration No. SC236677 (Scotland)
Black Bridge Furnishings Limited
Unaudited accounts
for the year ended 30 September 2024
Black Bridge Furnishings Limited
Unaudited accounts
Contents
Black Bridge Furnishings Limited
Company Information
for the year ended 30 September 2024
Company Number
SC236677 (Scotland)
Registered Office
C/o CMM Accountancy
The Green House
Inverness
IV2 3BL
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Black Bridge Furnishings Limited
Statement of financial position
as at 30 September 2024
Tangible assets
3,283,138
1,576,600
Investment property
1,700,000
1,100,000
Inventories
743,134
664,854
Cash at bank and in hand
1,059,879
2,201,316
Creditors: amounts falling due within one year
(422,990)
(319,989)
Net current assets
2,004,336
3,740,499
Total assets less current liabilities
6,987,474
6,417,099
Provisions for liabilities
Deferred tax
(147,634)
(88,644)
Net assets
6,839,840
6,328,455
Called up share capital
1
1
Profit and loss account
6,839,839
6,328,454
Shareholders' funds
6,839,840
6,328,455
For the year ending 30 September 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 12 June 2025 and were signed on its behalf by
J Fraser
Director
Company Registration No. SC236677
Black Bridge Furnishings Limited
Notes to the Accounts
for the year ended 30 September 2024
Black Bridge Furnishings Limited is a private company, limited by shares, registered in Scotland, registration number SC236677. The registered office is C/o CMM Accountancy, The Green House, Inverness, IV2 3BL.
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 remained unchanged from the previous year, and also 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
15% straight line
Motor vehicles
20% reducing balance
Fixtures & fittings
20% straight line
Computer equipment
25% straight line
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Black Bridge Furnishings Limited
Notes to the Accounts
for the year ended 30 September 2024
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Total
At 1 October 2023
1,991,442
Transfer to investment property
(341,500)
At 30 September 2024
3,685,632
Charge for the year
86,685
On transfers from investment property
(66,593)
At 30 September 2024
402,494
At 30 September 2024
3,283,138
At 30 September 2023
1,576,600
Included in debtors is a loan of £73,034 to the director J Fraser (2023 - £721,961). The loan bears interest at the statutory rate and has no fixed terms for repayment.
6
Average number of employees
During the year the average number of employees was 11 (2023: 11).