Company registration number 08361799 (England and Wales)
BLUE VISION ENTERPRISE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
BLUE VISION ENTERPRISE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BLUE VISION ENTERPRISE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,018
22,145
Current assets
Debtors
4
329,289
264,313
Investments
5
286,649
299,562
Cash at bank and in hand
533,420
359,531
1,149,358
923,406
Creditors: amounts falling due within one year
6
(128,579)
(117,844)
Net current assets
1,020,779
805,562
Total assets less current liabilities
1,037,797
827,707
Provisions for liabilities
(4,255)
(85)
Net assets
1,033,542
827,622
Capital and reserves
Called up share capital
7
120
120
Profit and loss reserves
1,033,422
827,502
Total equity
1,033,542
827,622

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 23 November 2023 and are signed on its behalf by:
Mr J Bairstow
Director
Company Registration No. 08361799
BLUE VISION ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Blue Vision Enterprise Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, NP20 2DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discounts.

 

Revenue from the provision of sporting and promotional activities, and to the extent that, the company obtains the right to consideration in exchange for services provided.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% on cost
Computers
33% on cost

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.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

BLUE VISION ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The 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 tax

Deferred 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.

 

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.

1.6

Investments

Current asset investments are initially measured at transaction price excluding transaction costs. Listed current asset investments are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
BLUE VISION ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2022
27,626
2,087
29,713
Additions
5,311
-
0
5,311
At 31 March 2023
32,937
2,087
35,024
Depreciation and impairment
At 1 April 2022
5,822
1,746
7,568
Depreciation charged in the year
10,139
299
10,438
At 31 March 2023
15,961
2,045
18,006
Carrying amount
At 31 March 2023
16,976
42
17,018
At 31 March 2022
21,804
341
22,145
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
86,380
34,497
Other debtors
242,909
229,816
329,289
264,313
5
Current asset investments
2023
2022
£
£
Other investments
286,649
299,562
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,177
23,572
Taxation and social security
69,028
45,626
Other creditors
56,374
48,646
128,579
117,844
BLUE VISION ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary B shares of £1 each
20
20
20
20
120
120
120
120
8
Directors' transactions

Dividends totalling £2,000 (2022 - £3,000) were paid in the year in respect of shares held by the company's directors.

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was £54,734 (2022: £47,046). This amount is included in creditors: amounts falling due within one year.

9
Related party transactions

The company has an existing loan with Blue Vision Properties Limited. At the year end the amount owed to Blue Vision Enterprises Limited was £242,909 (2022: £229,816), this amount is included in debtors: amounts falling due within one year. Mr J Bairstow is a director of both Blue Vision Enterprises Limited and Blue Vision Properties Limited.

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