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Company Registration No. 12385105 (England and Wales)
BLUE VELVET INNOVATIONS LTD Unaudited accounts for the year ended 31 January 2023
BLUE VELVET INNOVATIONS LTD Unaudited accounts Contents
Page
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BLUE VELVET INNOVATIONS LTD Company Information for the year ended 31 January 2023
Directors
Mr Shabbir Huzefa Mookhtiar Mr Dinesh Nanaji Patil
Company Number
12385105 (England and Wales)
Registered Office
Regus Building No 03, Concorde Park Concorde Road Maidenhead Berkshire SL6 4BY England
Accountants
Benison Solvers Limited 1000 Great West Road Brentford Middlesex TW8 9DW
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BLUE VELVET INNOVATIONS LTD Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
268,266 
228,735 
Current assets
Debtors
136,679 
151,272 
Cash at bank and in hand
18,859 
51,554 
155,538 
202,826 
Creditors: amounts falling due within one year
(183,054)
(12,417)
Net current (liabilities)/assets
(27,516)
190,409 
Total assets less current liabilities
240,750 
419,144 
Creditors: amounts falling due after more than one year
(28,333)
(38,333)
Net assets
212,417 
380,811 
Capital and reserves
Called up share capital
144 
140 
Share premium
992,363 
820,760 
Profit and loss account
(780,090)
(440,089)
Shareholders' funds
212,417 
380,811 
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by
Mr Shabbir Huzefa Mookhtiar Director Company Registration No. 12385105
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BLUE VELVET INNOVATIONS LTD Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
BLUE VELVET INNOVATIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 12385105. The registered office is Regus Building No 03, Concorde Park, Concorde Road, Maidenhead, Berkshire, SL6 4BY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2022
261,088 
Additions
51,453 
At 31 January 2023
312,541 
Depreciation
At 1 February 2022
32,353 
Charge for the year
11,922 
At 31 January 2023
44,275 
Net book value
At 31 January 2023
268,266 
At 31 January 2022
228,735 
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BLUE VELVET INNOVATIONS LTD Notes to the Accounts for the year ended 31 January 2023
5
Deferred taxation
2023 
2022 
£ 
£ 
Tax losses carried forward
(120,146)
(114,923)
2023 
2022 
£ 
£ 
Provision at start of year
(114,923)
(13,967)
Credited to the profit and loss account
(5,223)
(100,956)
Provision at end of year
(120,146)
(114,923)
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,442,532 Ordinary shares of £0.0001 each
144.25 
140.57 
Shares issued during the period:
36,818 Ordinary shares of £0.0001 each
3.68 
7
Average number of employees
During the year the average number of employees was 7 (2022: 12).
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