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REGISTERED NUMBER: SC315758 (Scotland)




















Blues & Greens Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Blues & Greens Limited (Registered number: SC315758)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Blues & Greens Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr B J Ross
Mrs G P Ross
Mr A T Ross





SECRETARY: Mrs G P Ross





REGISTERED OFFICE: Unit 14, Mill Walk Business Park
Tantallon Road
North Berwick
East Lothian
EH39 5NB





REGISTERED NUMBER: SC315758 (Scotland)





ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT

Blues & Greens Limited (Registered number: SC315758)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 64,402 47,853
Cash at bank 421 -
64,823 47,853
CREDITORS
Amounts falling due within one year 5 56,189 33,818
NET CURRENT ASSETS 8,634 14,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,634

14,035

CAPITAL AND RESERVES
Called up share capital 3 3
Share premium 8,332 8,332
Retained earnings 299 5,700
SHAREHOLDERS' FUNDS 8,634 14,035

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

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

Blues & Greens Limited (Registered number: SC315758)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

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





Mr B J Ross - Director


Blues & Greens Limited (Registered number: SC315758)

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

1. STATUTORY INFORMATION

Blues & Greens 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.

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 and revenue recognition
Turnover represents sales and commissions earned on sale of artworks, excluding value added tax. Turnover is recognised when the goods are supplied to the customer.

Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost compromise other debtors. Financial liabilities compromise accruals and other creditors.

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

Government grants
Government grants in relation to tangible fixed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

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

Blues & Greens Limited (Registered number: SC315758)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by parent undertaking 53,948 47,853
Other debtors 10,454 -
64,402 47,853

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,313 -
Taxation and social security 41,875 33,199
Other creditors 1,001 619
56,189 33,818

6. ULTIMATE CONTROLLING PARTY

The controlling party was Greens & Blues Limited (registered office 59 High Street, North Berwick, East Lothian, EH39 4HG).