Blue Spruce Homes Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor Gadd House, Arcadia Avenue, London, N3 2JU.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons (including directors) employed by the company during the year was:
HSBC UK Bank Plc holds a charge of 22 December 2020 against the company over all the property or undertaking of the company, which contains fixed and floating charges, and negative pledge.
At the balance sheet date the following amounts were owed by the following companies under common control, which are receivable on demand:
Blue Spruce Homes 500 Limited £3,000 (2021 - £11,012)
Blue Spruce Homes 50 Limited £8,024 (2021 - £3,217)
Blue Spruce Homes Hampstead Limited £56,645 (2021 - £43,863)
Blue Spruce Homes Norwood Limited £3,440 (2021 - £5,000)
Blue Spruce Homes South Park Limited £298 (2021 - £0)
Blue Spruce Homes Waterloo Limited £16,146 (2021 - £400)
Blue Spruce Homes 100 Limited £17,472 (2021 - £51,220)
Blue Spruce Homes Portland Limited £94,567 (2021 - £252,011)
Blue Spruce Homes 75 Limited £3,349 (2021 - £4,850)
London Property Rent Limited £347 (2021 - £347)
Blue Spruce Homes Washington Limited £472 (2021 - £7,666)
Blue Spruce Homes Charteris Limited £3,335 (2021 - £400)
Blue Spruce Homes 3 Limited £1,998 (2021 - £774)
Blue Spruce Homes Capital and Income Residential Ltd £0 (2021 - £475)
Property Development Holdings Limited £150 (2021 - £7,100)
1 Landcroft Road Limited £37,185 (2021 - £3,946)
Blue Spruce Homes 2 Limited £4,511 (2021 - £0)
Blue Spruce Homes Ascend Limited £149 (2021 - £0)
At the balance sheet date the following amounts were owed to the following companies under common control, which are payable on demand:
Blue Spruce Homes 250 Limited £21,975 (2021 - £1,506 owed to)
Blue Spruce Homes Elite Limited £19,502 (2021 - £127,000)
Blue Spruce Homes Capital and Income Limited £38,037 (2021 - £13,276)
Blue Spruce Homes Aviary Limited £13,630 (2021 - £47,100 owed to)
Blue Spruce Homes Washington 2 Limited £3,840 (2021 - £15,840 owed to)
Blue Spruce Homes Gondar Limited £30,899 (2021 - £0)
Hull Ventures Limited £28,000 (2021 - £0)
Dividends totalling £0 (2021 - £100,000) were paid in the year in respect of shares held by the company's directors.
As at the balance sheet date the following amounts were owed to the following directors of the company:
A Guy £21,609 (2021 - £20,000)
A Hull £21,134 (2021 - £20,000)
A Jeffreys £20,000 (2021 - £254,000)
H Cottey £18,000 (2021 - £20,000)
M Jordan £4,800 (2021 - £20,000)