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

REGISTERED NUMBER: SC033678 (Scotland)

Unaudited Financial Statements

for the Period 1 October 2019 to 31 January 2021

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

1,360,000

1,115,000

Investments

5

30,306

23,176

1,390,306

1,138,176

CURRENT ASSETS

Debtors

6

723

-

Cash at bank

285,445

207,703

286,168

207,703

CREDITORS

Amounts falling due within one year

7

92,717

80,617

NET CURRENT ASSETS

193,451

127,086

TOTAL ASSETS LESS CURRENT LIABILITIES

1,583,757

1,265,262

PROVISIONS FOR LIABILITIES

8

56,847

10,297

NET ASSETS

1,526,910

1,254,965

CAPITAL AND RESERVES

Called up share capital

7,064

7,064

Capital redemption reserve

2,936

2,936

Retained earnings

1,516,910

1,244,965

SHAREHOLDERS' FUNDS

1,526,910

1,254,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2021 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 22 February 2021 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 period 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 period 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 period was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 October 2019

1,115,000

Revaluations

245,000

At 31 January 2021

1,360,000

NET BOOK VALUE

At 31 January 2021

1,360,000

At 30 September 2019

1,115,000

Cost or valuation at 31 January 2021 is represented by:

Land and

buildings

£

Valuation in 1982

277,774

Valuation in 2014

812,000

Valuation in 2020

245,000

Cost

25,226

1,360,000

Freehold land and buildings were valued on an open market basis on 1 July 2020 by DM Hall .

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 October 2019

23,176

Revaluations

7,130

At 31 January 2021

30,306

NET BOOK VALUE

At 31 January 2021

30,306

At 30 September 2019

23,176

Cost or valuation at 31 January 2021 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

Valuation in 2021

7,130

Cost

17,212

30,306

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

2021

2019

£

£

Cost

17,212

17,212

Aggregate provisions

13,094

5,964

Fixed asset investments were valued on an open market basis on 31 January 2021 by Rathbone Investment Management .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Other debtors

723

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Trade creditors

16,697

16,697

Taxation and social security

16,662

8,352

Other creditors

59,358

55,568

92,717

80,617

8.	PROVISIONS FOR LIABILITIES

2021

2019

£

£

Deferred tax

56,847

10,297

Deferred

tax

£

Balance at 1 October 2019

10,297

Provided during period

46,550

Balance at 31 January 2021

56,847

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Board of Directors & their associates.