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Company Registration No. 07024179 (England and Wales)
Blue Waters Limited Unaudited accounts for the year ended 31 March 2023
Blue Waters Limited Unaudited accounts Contents
Page
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Blue Waters Limited Company Information for the year ended 31 March 2023
Director
Dr Adeel Asim
Company Number
07024179 (England and Wales)
Registered Office
32 SEEDLANDS CLOSE BOSTON LINCOLNSHIRE PE21 9QE
Accountants
Reliance Tax Advisers 20B Market Place Grantham Lincolnshire NG31 6LP
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Blue Waters Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blue Waters Limited for the year ended 31 March 2023 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Reliance Tax Advisers Chartered Certified Accountants 20B Market Place Grantham Lincolnshire NG31 6LP 25 September 2023
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Blue Waters Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,218 
27,558 
Investment property
92,981 
92,981 
107,199 
120,539 
Current assets
Cash at bank and in hand
47,460 
45,768 
Creditors: amounts falling due within one year
(22,811)
(32,650)
Net current assets
24,649 
13,118 
Net assets
131,848 
133,657 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
131,846 
133,655 
Shareholders' funds
131,848 
133,657 
For the year ending 31 March 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and authorised for issue on 24 October 2023 and were signed on its behalf by
Dr Adeel Asim Director Company Registration No. 07024179
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Blue Waters Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Blue Waters Limited is a private company, limited by shares, registered in England and Wales, registration number 07024179. The registered office is 32 SEEDLANDS CLOSE, BOSTON, LINCOLNSHIRE, PE21 9QE.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
25%
Computer equipment
33%
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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Blue Waters Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
52,990 
6,103 
59,093 
Additions
- 
659 
659 
At 31 March 2023
52,990 
6,762 
59,752 
Depreciation
At 1 April 2022
26,496 
5,039 
31,535 
Charge for the year
13,248 
751 
13,999 
At 31 March 2023
39,744 
5,790 
45,534 
Net book value
At 31 March 2023
13,246 
972 
14,218 
At 31 March 2022
26,494 
1,064 
27,558 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
92,981 
At 31 March 2023
92,981 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
21,289 
31,314 
Other creditors
773 
314 
Accruals
749 
1,022 
22,811 
32,650 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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