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COMPANY REGISTRATION NUMBER: 06355962
Bluetech Systems Limited
Filleted Unaudited Financial Statements
For the year ended
31 August 2022
Bluetech Systems Limited
Statement of Financial Position
31 August 2022
2022
2021
Note
£
£
£
£
Fixed assets
Investments
5
533,983
533,983
Current assets
Debtors
6
5,000
5,000
Creditors: amounts falling due within one year
7
662,512
661,102
----------
----------
Net current liabilities
657,512
656,102
----------
----------
Total assets less current liabilities
( 123,529)
( 122,119)
----------
----------
Net liabilities
( 123,529)
( 122,119)
----------
----------
Capital and reserves
Called up share capital
9,168
9,168
Capital redemption reserve
2,892
2,892
Profit and loss account
( 135,589)
( 134,179)
----------
----------
Shareholders deficit
( 123,529)
( 122,119)
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bluetech Systems Limited
Statement of Financial Position (continued)
31 August 2022
These financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
Mr J B Lee
Director
Company registration number: 06355962
Bluetech Systems Limited
Notes to the Financial Statements
Year ended 31 August 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Townends Accountants LLP, Carlisle Street, Goole, East Yorkshire, DN14 5DX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The balance sheet at 31 August 2022 shows that liabilities exceeded assets by £123,529. Liabilities include loans from the shareholders and related undertakings totalling £626,597. The company relies on the continued support of the shareholders to continue normal trading activities. Such support has been confirmed and will be made available for the foreseeable future and increased where necessary. The accounts are therefore prepared on a going concern basis. (b) Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference . (c) Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss . (d) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
(e) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Investments
Shares in participating interests
£
Cost
At 1 September 2021 and 31 August 2022
533,983
----------
Impairment
At 1 September 2021 and 31 August 2022
----------
Carrying amount
At 31 August 2022
533,983
----------
At 31 August 2021
533,983
----------
6. Debtors
2022
2021
£
£
Other debtors
5,000
5,000
-------
-------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Shareholder loans
626,597
626,597
Other creditors
35,915
34,505
----------
----------
662,512
661,102
----------
----------
8. Related party transactions
The company has received an interest free loan from a shareholder . The loan is repayable on demand. At the year end date the balance outstanding was £ 296,297 (2021 - £ 296,297 ) During the year the company was in receipt of an interest free loan from a director. The loan is repayable on demand. At the year end date the balance owing to the director totalled £ 2,820 (2021 - £ 1,410 ).