| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 March 2025 |
| for |
| Bamburgh First Limited |
| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 March 2025 |
| for |
| Bamburgh First Limited |
| Bamburgh First Limited (Registered number: SC740294) |
| Contents of the Financial Statements |
| For The Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Bamburgh First Limited |
| Company Information |
| For The Year Ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Regent Court |
| 70 West Regent Street |
| Glasgow |
| G2 2QZ |
| Bamburgh First Limited (Registered number: SC740294) |
| Abridged Statement of Financial Position |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Bamburgh First Limited (Registered number: SC740294) |
| Abridged Statement of Financial Position - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Bamburgh First Limited (Registered number: SC740294) |
| Notes to the Financial Statements |
| For The Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Bamburgh First Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Bamburgh First Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the rental amounts received or receivable, excluding Value Added Tax, and in accordance with the company's terms and conditions of rental. |
| Tangible fixed assets |
| Fixed plant and equipment | - |
| Fixtures and fittings | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Investment property is shown at the most recent valuation which is measured at fair value based on market value as suitable for furnished holiday letting property. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
| Bamburgh First Limited (Registered number: SC740294) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| Additions | 30,000 |
| At 31 March 2025 | 30,000 |
| NET BOOK VALUE |
| At 31 March 2025 | 30,000 |
| Bamburgh First Limited (Registered number: SC740294) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2025 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
| Registered office: Trinity House, 29 Lynedoch, Street, Glasgow, G3 6EF |
| Nature of business: |
| % |
| Class of shares: | holding |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Investment property of £7,710,000 was acquired at valuation on 10th February 2023 on incorporation of furnished holiday letting partnerships. |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2023 | 7,710,000 |
| Valuation in 2024 | 442,058 |
| Valuation in 2025 | 141,302 |
| 8,293,360 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 8,293,360 | 8,152,058 |
| Investment property was valued on an open market basis on 10 February 2023 by a firm of professional surveyors . |
| The Directors consider that the carrying value of investment property at 31 March 2025 is fairly stated on an open market basis. |
| Bamburgh First Limited (Registered number: SC740294) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2025 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hampden & Co Plc hold a fixed charge over the investment property owned by the company. |