Registered number
07067391
Blue Mountain Properties Limited
Unaudited Filleted Accounts
31 March 2023
Blue Mountain Properties Limited
Registered number: 07067391
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 2,160,736 1,664,444
Current assets
Debtors 3 144,940 3,004
Cash at bank and in hand 7,321 31,402
152,261 34,406
Creditors: amounts falling due within one year 4 (101,507) (77,023)
Net current assets/(liabilities) 50,754 (42,617)
Total assets less current liabilities 2,211,490 1,621,827
Creditors: amounts falling due after more than one year 5 (722,125) (791,181)
Net assets 1,489,365 830,646
Capital and reserves
Called up share capital 100 100
Investment from parent company 6 1,847,999 1,044,749
Profit and loss account (358,734) (214,203)
Shareholder's funds 1,489,365 830,646
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions and applicable to companies subject to the small companies regime. The pofit and loss account has been delivered to the Registrar of Companies.
Mr P K Manaktala
Director
Approved by the board on 25 October 2023
Blue Mountain Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Turnover
Turnover represents income for services provided in the period, recognised according to the period of services provided.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Premises costs 4% reducing balance basis
Equipment, fixtures and fittings 20% reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Employees 2023 2022
Number Number
Average number of employees 0 0
2 Tangible fixed assets
Premises costs Equipment, fixtures and fittings Total
£ £ £
Cost
At 1 April 2022 1,764,184 114,029 1,878,213
Additions 501,432 49,400 550,832
Improvements 51,981 - 51,981
At 31 March 2023 2,317,597 163,429 2,481,026
Depreciation
At 1 April 2022 149,287 64,482 213,769
Charge for the year 86,732 19,789 106,521
At 31 March 2023 236,019 84,271 320,290
Net book value
At 31 March 2023 2,081,578 79,158 2,160,736
At 31 March 2022 1,614,897 49,547 1,664,444
3 Debtors 2023 2022
£ £
Trade debtors 5,750 2,800
Related party balance - Blue Mountain Properties Southern Ltd 36,129 -
Other taxes and social security costs 103,061 204
144,940 3,004
4 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' current account 5,677 5,677
Bank loans 95,830 71,346
101,507 77,023
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 722,125 791,181
6 Investment from parent company
The company is owed wholly by Blue Mountain Homes Ltd.
2023 2022
£ £
Investment in Blue Mountain Properties Limited 1,847,999 1,044,749
6 Controlling party
The company is controlled by Blue Mountain Homes Ltd.
7 Other information
Blue Mountain Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 20-21 Pullman Business Court
Mallard Way
Pride Park
Derby
De24 8GX
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