REGISTERED NUMBER: SC520350 (Scotland)

Bricur Limited

Unaudited Financial Statements

for the Year Ended 30 November 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M P Fitzgerald

REGISTERED OFFICE:

11 Dalhousie Crescent

Dalkeith

Midlothian

EH22 3DP

REGISTERED NUMBER:

SC520350 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Bank of Scotland

38 St. Andrew Square

Edinburgh

EH2 2AD

FIXED ASSETS

Tangible assets

4

22,802

20,978

Investment property

5

135,000

135,000

157,802

155,978

CURRENT ASSETS

Debtors

6

1,745

1,333

Cash at bank

62,017

58,625

63,762

59,958

CREDITORS

Amounts falling due within one year

7

70,916

90,057

NET CURRENT LIABILITIES

(7,154

)

(30,099

)

TOTAL ASSETS LESS CURRENT LIABILITIES

150,648

125,879

PROVISIONS FOR LIABILITIES

9,924

9,762

NET ASSETS

140,724

116,117

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

9

35,052

35,052

Retained earnings

105,670

81,063

SHAREHOLDERS' FUNDS

140,724

116,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The 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.

The financial statements were approved by the director and authorised for issue on 27 April 2026 and were signed by:

Mr M P Fitzgerald - Director

1.	STATUTORY INFORMATION

Bricur Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is 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.

Turnover and revenue recognition

The turnover shown in the profit and loss account represents rental income recognised based on quarterly rent due.

Consultancy turnover represents net invoiced sales of services, excluding value added tax, is recognised when the when the services are supplied to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 20% on cost and 10% on cost

Investment property

Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2024

23,550

Additions

5,020

At 30 November 2025

28,570

DEPRECIATION

At 1 December 2024

2,572

Charge for year

3,196

At 30 November 2025

5,768

NET BOOK VALUE

At 30 November 2025

22,802

At 30 November 2024

20,978

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

and 30 November 2025

135,000

NET BOOK VALUE

At 30 November 2025

135,000

At 30 November 2024

135,000

The property was valued at the open market by the director.

Fair value at 30 November 2025 is represented by:

£

Valuation in 2022

44,627

Cost

90,373

135,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

90,373

90,373

Investment property was valued on an open market basis on 30 November 2025 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,745

1,333

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

13,118

27,592

Other creditors

57,798

62,465

70,916

90,057

8.	SECURED DEBTS

On 10 February 2016, a floating charge was created in favour of Bank of Scotland plc over the property 9 Howard Street, Edinburgh, EH3 5JP. The floating charge was satisfied on 24 February 2025.

On 12 February 2016, a fixed security charge was created in favour of Bank of Scotland plc over the

property 9 Howard Street, Edinburgh, EH3 5JP. The fixed security charge was satisfied on 24 February 2025.

On 18 June 2021, a registration of a charge created in favour of the director and shareholders over the property 9 Howard Street, Edinburgh, EH3 5JP.

9.

RESERVES

Fair

value

reserve

£

At 1 December 2024

and 30 November 2025

35,052

The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings.

10.	RELATED PARTY DISCLOSURES

Mr M P Fitzgerald is the director and shareholder of the company. During the year, the company paid personal expenses on behalf of the director amounting to £3,588. During the year, the company repaid £1,610 to the director. Interest was charged on the outstanding director’s loan account balance at a rate of 7% per annum. At 30 November 2025, there was an outstanding balance of £38,337 owed to the director.

Ms C V Storrie, the director’s wife and also a shareholder of the company. During the year, Ms C V Storrie paid expenses on behalf of the company totalling £1,119. During the year, the company repaid £2,639 to Ms C V Storrie. Interest was charged at 7% per annum on the outstanding balance. At 30 November 2025, a balance of £16,202 was outstanding and owed to Ms C V Storrie.

All balances are unsecured and have no fixed term of repayment.

During the year, the company received consultancy fees totalling £10,500 from Splendid Property Management Ltd and £27,667 from Stand Property Limited in which Mr M P Fitzgerald is also a director in both companies.