BLUE 7 ENTERPRISES LTD

Company Registration Number:
09810770 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2022

Period of accounts

Start date: 01 November 2021

End date: 31 October 2022

BLUE 7 ENTERPRISES LTD

Contents of the Financial Statements

for the Period Ended 31 October 2022

Balance sheet
Notes

BLUE 7 ENTERPRISES LTD

Balance sheet

As at 31 October 2022


Notes

2022

2021


£

£
Fixed assets
Tangible assets: 3 2,397 3,205
Total fixed assets: 2,397 3,205
Current assets
Debtors:   368,101 502,639
Cash at bank and in hand: 9,638 81,770
Total current assets: 377,739 584,409
Creditors: amounts falling due within one year:   (378,482) (575,888)
Net current assets (liabilities): (743) 8,521
Total assets less current liabilities: 1,654 11,726
Total net assets (liabilities): 1,654 11,726
Capital and reserves
Called up share capital: 3 3
Profit and loss account: 1,651 11,723
Shareholders funds: 1,654 11,726

The notes form part of these financial statements

BLUE 7 ENTERPRISES LTD

Balance sheet statements

For the year ending 31 October 2022 the company was entitled to exemption 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 this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 October 2023
and signed on behalf of the board by:

Name: Mr N Schogger
Status: Director

The notes form part of these financial statements

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases: Plant and equipment Straight line over 3 years.The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceedsand the carrying value of the asset, and is credited or charged to profit or loss.

Other accounting policies

TaxationThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Deferred taxDeferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2022

2. Employees

2022 2021
Average number of employees during the period 22 24

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2022

3. Tangible Assets

Total
Cost £
At 01 November 2021 8,541
Additions 1,398
At 31 October 2022 9,939
Depreciation
At 01 November 2021 5,336
Charge for year 2,206
At 31 October 2022 7,542
Net book value
At 31 October 2022 2,397
At 31 October 2021 3,205

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2022

4. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: This loan is interest free and repayable on demand.
£
Balance at 01 November 2021 215,932
Balance at 31 October 2022 207,878