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REGISTERED NUMBER: 07916085 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Blue Flag Valeting Services Ltd

Blue Flag Valeting Services Ltd (Registered number: 07916085)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Blue Flag Valeting Services Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: S M Killer
B T Killer





REGISTERED OFFICE: 64-66 Outram Street
Sutton-in-Ashfield
Nottingham
Nottinghamshire
NG17 4FS





BUSINESS ADDRESS: 26 Halfpenny Walk
Wilford
Nottingham
Nottinghamshire
NG11 7GX





REGISTERED NUMBER: 07916085 (England and Wales)





ACCOUNTANTS: D. K. Rumsby & Co Limited
3 Colwick Quays
Colwick
Nottingham
Nottinghamshire
NG4 2JY

Blue Flag Valeting Services Ltd (Registered number: 07916085)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,764 51,085

CURRENT ASSETS
Stocks 10,655 24,545
Debtors 5 504,247 503,140
Cash at bank 10,078 5,058
524,980 532,743
CREDITORS
Amounts falling due within one year 6 (373,338 ) (326,943 )
NET CURRENT ASSETS 151,642 205,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

159,406

256,885

CREDITORS
Amounts falling due after more than one
year

7

(154,515

)

(244,760

)

PROVISIONS FOR LIABILITIES (1,475 ) (12,117 )
NET ASSETS 3,416 8

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 3,414 6
SHAREHOLDERS' FUNDS 3,416 8

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Blue Flag Valeting Services Ltd (Registered number: 07916085)

Balance Sheet - continued
31 January 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2023 and were signed on its behalf by:





S M Killer - Director


Blue Flag Valeting Services Ltd (Registered number: 07916085)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Blue Flag Valeting Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Blue Flag Valeting Services Ltd (Registered number: 07916085)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
Equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 12,190 59,971 3,490 75,651
Additions 312 - 640 952
Disposals - (52,300 ) - (52,300 )
At 31 January 2023 12,502 7,671 4,130 24,303
DEPRECIATION
At 1 February 2022 9,397 13,827 1,342 24,566
Charge for year 446 - 420 866
Eliminated on disposal - (8,893 ) - (8,893 )
At 31 January 2023 9,843 4,934 1,762 16,539
NET BOOK VALUE
At 31 January 2023 2,659 2,737 2,368 7,764
At 31 January 2022 2,793 46,144 2,148 51,085

Blue Flag Valeting Services Ltd (Registered number: 07916085)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022 52,300
Disposals (52,300 )
At 31 January 2023 -
DEPRECIATION
At 1 February 2022 9,806
Eliminated on disposal (9,806 )
At 31 January 2023 -
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 42,494

5. DEBTORS
31.1.23 31.1.22
£    £   
Amounts falling due within one year:
Trade debtors 22,993 40,687
Other debtors 368,379 357,985
391,372 398,672

Amounts falling due after more than one year:
Other debtors 112,875 104,468

Aggregate amounts 504,247 503,140

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 64,168 53,188
Hire purchase contracts - 7,700
Trade creditors 19,519 15,344
Taxation and social security 255,110 226,930
Other creditors 34,541 23,781
373,338 326,943

Blue Flag Valeting Services Ltd (Registered number: 07916085)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 154,515 206,318
Hire purchase contracts - 38,442
154,515 244,760

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank overdrafts 7,812 4,832
Bank loans 210,871 254,674
Hire purchase contracts - 46,142
218,683 305,648

Bank loans are secured by way of personal guarantees by S M Killer. Hire purchase contracts are secured on the asset to which it relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
1 Ordinary £1 1 1
1 Ordinary B £1 1 1
2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
S M Killer
Balance outstanding at start of year 321,440 226,861
Amounts advanced 162,962 232,466
Amounts repaid (150,246 ) (137,887 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 334,156 321,440

Blue Flag Valeting Services Ltd (Registered number: 07916085)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

B T Killer
Balance outstanding at start of year 9,178 4,429
Amounts advanced 3,825 4,749
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,003 9,178

Interest has been charged at 2.5% on Mr S M Killer's Directors loan account.