Blanefield Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC033678 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Blanefield Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H. Gordon

A.B. Bernard

M.R. Gordon

SECRETARY:

H. Gordon

REGISTERED OFFICE:

21 Hunter Street

East Kilbride

Glasgow

G74 4LZ

REGISTERED NUMBER:

SC033678 (Scotland)

ACCOUNTANTS:

Craig Cleland Limited

Chartered Accountants

21 Hunter Street

East Kilbride

Glasgow

G74 4LZ

FIXED ASSETS

Investment properties

4

1,115,000

1,115,000

Investments

5

23,176

12,804

1,138,176

1,127,804

CURRENT ASSETS

Debtors

6

-

12,176

Cash at bank

207,703

191,500

207,703

203,676

CREDITORS

Amounts falling due within one year

7

80,617

89,206

NET CURRENT ASSETS

127,086

114,470

TOTAL ASSETS LESS CURRENT LIABILITIES

1,265,262

1,242,274

PROVISIONS FOR LIABILITIES

8

10,297

10,297

NET ASSETS

1,254,965

1,231,977

CAPITAL AND RESERVES

Called up share capital

7,064

7,064

Capital redemption reserve

2,936

2,936

Retained earnings

1,244,965

1,221,977

SHAREHOLDERS' FUNDS

1,254,965

1,231,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 23 June 2020 and were signed on its behalf by:

A.B. Bernard - Director

1.	STATUTORY INFORMATION

Blanefield Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of financial statements in compliance with Section 1A 'Small Entities' of FRS 102 requires the

use of certain critical accounting estimates. It requires management to exercise judgement in applying company

accounting policies.

Turnover

Investment income consists of rent received from the investment properties and income from the company's stock

market securities. Rents received are dealt with on an accrual basis whilst income from stock market securities is

on a receipts basis.

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and

investment property yields for comparable real estate, adjusted if necessary for any difference in the nature,

location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in

the income statement.

Investments

Investments in shares are measured at fair value, where the fair value can be measured reliably. Otherwise they

are included at cost less impairment. Gains on investments are recognised through the income statement.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 October 2018

and 30 September 2019

1,115,000

NET BOOK VALUE

At 30 September 2019

1,115,000

At 30 September 2018

1,115,000

Freehold land and building were valued on an open market basis on 27 November 2014 by DM Hall. The

directors have considered this value and in their opinion the value has not materially changed.

If the investment properties had been accounted for under the historic cost accounting rules, the land and

buildings would have been measured as follows:

2019 2018

£ £

Historic cost 25,226 25,226

Accumulated depreciation nil nil

---------- ---------

25,226 25,226

====== =====

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 October 2018

12,804

Additions

7,556

Revaluations

2,816

At 30 September 2019

23,176

NET BOOK VALUE

At 30 September 2019

23,176

At 30 September 2018

12,804

Cost or valuation at 30 September 2019 is represented by:

Other

investments

£

Valuation in 2014

3,156

Valuation in 2015

263

Valuation in 2016

(1,932

)

Valuation in 2017

3,594

Valuation in 2018

(1,933

)

Valuation in 2019

2,816

Cost

17,212

23,176

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2019

2018

£

£

Cost

17,212

9,656

Aggregate provisions

5,964

3,148

Fixed asset investments were valued on an open market basis on 30 September 2019 by Rathbone Investment Management

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

11,325

Other debtors

-

851

-

12,176

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

16,697

16,697

Taxation and social security

8,352

13,287

Other creditors

55,568

59,222

80,617

89,206

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

10,297

10,297

Deferred

tax

£

Balance at 1 October 2018

10,297

Balance at 30 September 2019

10,297

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Director Mrs H.Gordon and her associates.