P.E.C. Barr (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC103586 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JULY 2020 TO 29 JUNE 2021

FOR

P.E.C. BARR (HOLDINGS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C P Barr

E J Carr

S M C Crombie

D A Plummer

REGISTERED OFFICE:

Q Court

3 Quality Street

Edinburgh

EH4 5BP

REGISTERED NUMBER:

SC103586 (Scotland)

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

4,864

3,108

Investments

5

53,976

47,838

Investment property

6

4,145,000

3,500,000

4,203,840

3,550,946

CURRENT ASSETS

Debtors

7

29,151

68,516

Cash at bank

30,568

35,855

59,719

104,371

CREDITORS

Amounts falling due within one year

8

46,783

54,826

NET CURRENT ASSETS

12,936

49,545

TOTAL ASSETS LESS CURRENT LIABILITIES

4,216,776

3,600,491

PROVISIONS FOR LIABILITIES

9

220,828

117,700

NET ASSETS

3,995,948

3,482,791

CAPITAL AND RESERVES

Called up share capital

32,590

32,590

Share premium

12,630

12,630

Fair value reserve

2,405,984

1,864,316

Capital redemption reserve

2,080

2,080

Retained earnings

1,542,664

1,571,175

3,995,948

3,482,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 June 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 June 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 7 September 2022 and were signed on its behalf by:

E J Carr - Director

1.	STATUTORY INFORMATION

P.E.C. Barr (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.

TURNOVER

Turnover represents the value of rents receivable, net of Value Added Tax.

TANGIBLE FIXED ASSETS

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

Fixtures and fittings

-

15% per annum reducing balance

Motor vehicles

-

25% per annum reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

FIXED ASSET INVESTMENTS

Investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in 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.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2020

-

906

36,848

37,754

Additions

2,500

-

-

2,500

At 29 June 2021

2,500

906

36,848

40,254

DEPRECIATION

At 1 July 2020

-

564

34,082

34,646

Charge for period

-

52

692

744

At 29 June 2021

-

616

34,774

35,390

NET BOOK VALUE

At 29 June 2021

2,500

290

2,074

4,864

At 30 June 2020

-

342

2,766

3,108

Tangible fixed assets with a carrying value of £4,864 (2020 - £3,108) have been pledged as security for the company's borrowings.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 July 2020

47,838

Additions

11,000

Disposals

(12,445

)

Revaluations

5,030

Impairments

(452

)

Reversal of impairments

3,005

At 29 June 2021

53,976

NET BOOK VALUE

At 29 June 2021

53,976

At 30 June 2020

47,838

Cost or valuation at 29 June 2021 is represented by:

Other

investments

£

Valuation in 2021

8,042

Cost

45,934

53,976

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

2021

2020

£

£

Cost

45,934

47,642

Aggregate provisions

(196

)

(196

)

Listed investments were valued on a fair value basis on 30 June 2021 by Charles Stanley & Co. Limited .

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2020

3,500,000

Revaluations

645,000

At 29 June 2021

4,145,000

NET BOOK VALUE

At 29 June 2021

4,145,000

At 30 June 2020

3,500,000

Fair value at 29 June 2021 is represented by:

£

Valuation in 2021

2,627,016

Cost

1,517,984

4,145,000

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

2021

2020

£

£

Cost

1,517,984

1,517,984

Investment property was valued on an open market basis on 20 July 2022 by Graham Sibbald .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

18,317

36,980

Other debtors

10,834

31,536

29,151

68,516

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

13,634

6,758

Taxation and social security

21,056

33,248

Other creditors

12,093

14,820

46,783

54,826

9.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

220,828

117,700

Deferred

tax

£

Balance at 1 July 2020

117,700

Charge to Income Statement during period

103,128

Balance at 29 June 2021

220,828