Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mrs T R Hardick 30/10/2020 22 August 2025 The company was previously dormant. During the year, the company began trading on 16 April 2024, the principal activity of the company is the rental of commercial properties. 12986065 2024-12-31 12986065 bus:Director1 2024-12-31 12986065 2023-12-31 12986065 core:CurrentFinancialInstruments 2024-12-31 12986065 core:CurrentFinancialInstruments 2023-12-31 12986065 core:ShareCapital 2024-12-31 12986065 core:ShareCapital 2023-12-31 12986065 core:RetainedEarningsAccumulatedLosses 2024-12-31 12986065 core:RetainedEarningsAccumulatedLosses 2023-12-31 12986065 bus:OrdinaryShareClass1 2024-12-31 12986065 2024-01-01 2024-12-31 12986065 bus:FilletedAccounts 2024-01-01 2024-12-31 12986065 bus:SmallEntities 2024-01-01 2024-12-31 12986065 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12986065 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12986065 bus:Director1 2024-01-01 2024-12-31 12986065 2023-01-01 2023-12-31 12986065 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 12986065 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12986065 (England and Wales)

BRECHIN INVESTMENTS NO.1 LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BRECHIN INVESTMENTS NO.1 LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BRECHIN INVESTMENTS NO.1 LIMITED

BALANCE SHEET

As at 31 December 2024
BRECHIN INVESTMENTS NO.1 LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,339,607 0
2,339,607 0
Current assets
Debtors 4 30,038 100
Cash at bank and in hand 53,528 0
83,566 100
Creditors: amounts falling due within one year 5 ( 2,300,467) 0
Net current (liabilities)/assets (2,216,901) 100
Total assets less current liabilities 122,706 100
Net assets 122,706 100
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 122,606 0
Total shareholder's funds 122,706 100

For the financial year ending 31 December 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 financial statements of Brechin Investments No.1 Limited (registered number: 12986065) were approved and authorised for issue by the Director on 22 August 2025. They were signed on its behalf by:

Mrs T R Hardick
Director
BRECHIN INVESTMENTS NO.1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BRECHIN INVESTMENTS NO.1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Brechin Investments No.1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 56 The Square, Chagford, TQ13 8AE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents property rental income and service charges recognised on a straight line basis over the life of the tenancy, and is stated net of VAT and trade discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 0
Additions 2,339,607
As at 31 December 2024 2,339,607

The investment property has been included at cost as it had been purchased during the year. No independent valuer was involved.

4. Debtors

2024 2023
£ £
Trade debtors 16,695 0
Prepayments 13,343 0
Other debtors 0 100
30,038 100

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 2,100,910 0
Accruals and deferred income 101,998 0
Taxation and social security 58,372 0
Other creditors 39,187 0
2,300,467 0

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with owners holding a participating interest in the entity

During the year, a loan existed between Brechin Investments No.1 Limited and Brechin Investments Limited. At the balance sheet date the amount due to Brechin Investments Limited was £2,100,910 (2023: £Nil). The balance is repayable on demand.