Braidbar Properties Limited - Accounts to registrar (filleted) - small 18.2

Braidbar Properties Limited - Accounts to registrar (filleted) - small 18.2

BRAIDBAR PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: SC402216 (Scotland)













BRAIDBAR PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019






BRAIDBAR PROPERTIES LIMITED (REGISTERED NUMBER: SC402216)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

BRAIDBAR PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DIRECTOR: Mrs A W McCallum





REGISTERED OFFICE: 505 Mearns Road
Mearnskirk
Glasgow
G77 6RS





REGISTERED NUMBER: SC402216 (Scotland)





ACCOUNTANTS: Hardie Caldwell LLP
Chartered Accountants
Citypoint 2
25 Tyndrum Street
Glasgow
G4 0JY
Page 1
BRAIDBAR PROPERTIES LIMITED (REGISTERED NUMBER: SC402216)

BALANCE SHEET
31 MARCH 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,040,000 1,040,000

CURRENT ASSETS
Debtors 5 37,208 4,784
Cash at bank 401,436 358,411
438,644 363,195
CREDITORS
Amounts falling due within one year 6 831,021 856,909
NET CURRENT LIABILITIES (392,377 ) (493,714 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
647,623
546,286

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 647,621 546,284
SHAREHOLDERS' FUNDS 647,623 546,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 September 2019 and were signed by:





Mrs A W McCallum - Director


The notes form part of these financial statements

Page 2
BRAIDBAR PROPERTIES LIMITED (REGISTERED NUMBER: SC402216)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019


1. STATUTORY INFORMATION

Braidbar Properties Limited is a private company, limited by shares, registered in Scotland. The company's
registered number is SC402216 and its registered office is 505 Mearns Road, Mearnskirk Glasgow G77 6RS.

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.

Going concern
The company has cash resources and has no requirement for external funding. The director has a reasonable
expectation that the company has adequate resources to continue in operational existence for the foreseeable
future. The director continues to believe the going concern basis of accounting appropriate in preparing the
annual financial statements.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable.

Turnover represents income received from the rental of the company's investment property.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation
is provided on those gains at the rate expected to apply when the property is sold.

Financial instruments
Debtors
Trade debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable
amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of
maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Trade and other creditors are recognised where the company has a present obligation resulting from a past event
and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4. INVESTMENT PROPERTY

Total
£
FAIR VALUE
At 1 April 2018 and 31 March 20191,040,000

The investment property was valued by the directors based on the rental yield rate.

Page 3 continued...
BRAIDBAR PROPERTIES LIMITED (REGISTERED NUMBER: SC402216)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 2,500 2,796
Other debtors 34,708 1,988
37,208 4,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 240 -
Taxation and social security 29,847 26,342
Other creditors 800,934 830,567
831,021 856,909

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
2 Ordinary £1 2 2

Page 4
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BRAIDBAR PROPERTIES LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Braidbar Properties Limited for the year ended 31 March 2019 which comprise the Income
Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the
company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Braidbar Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Braidbar Properties Limited and state those matters that we have agreed to state to the director of Braidbar Properties Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Braidbar Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Braidbar Properties Limited. You consider that Braidbar Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Braidbar Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hardie Caldwell LLP
Chartered Accountants
Citypoint 2
25 Tyndrum Street
Glasgow
G4 0JY


19 September 2019

This page does not form part of the statutory financial statements

Page 5