Company Registration No. 11769715 (England and Wales)
BLUE HOUSE CONSTRUCTION LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2023
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BLUE HOUSE CONSTRUCTION LIMITED
REGISTERED NUMBER:11769715
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BALANCE SHEET
AS AT 31 MARCH 2023
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Current asset investments
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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BLUE HOUSE CONSTRUCTION LIMITED
REGISTERED NUMBER:11769715
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BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2023.
___________________________
Michael P Murphy
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The notes on pages 3 to 7 form part of these financial statements.
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BLUE HOUSE CONSTRUCTION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Blue House Construction Limited is a private company limited by shares incorporated in England and Wales.The registered office is 18 Thorveton Road, London, NW2 1RE. The principal activity of the company is that of residential property management and letting.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The members have agreed to the preperation of abridged accounts for this accounting period in accordance with section 444(2A) of the Companies Act 2006
The financial statements are prepared in sterling, which is the functunal currency of the company.
The following principal accounting policies have been applied:
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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Foreign currency translation
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Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
Turnover represents the total invoice value of rent received or receivable during the year.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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BLUE HOUSE CONSTRUCTION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Current asset investments are stated at the lower of cost and estimated net realisable value.
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The average monthly number of employees, including directors, during the year was 5 (2022 - 5).
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BLUE HOUSE CONSTRUCTION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Freehold investment property
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The 2023 valuations were made by the directors, on an open market value for existing use basis.
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Current asset investments
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Cash and cash equivalents
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BLUE HOUSE CONSTRUCTION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Creditors: Amounts falling due within one year
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Creditors: Amounts falling due after more than one year
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The bank loans represent a mix of interest only and repayment mortgages. The banks have mortgage debentures over fixed assets of the company.
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Allotted, called up and fully paid
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Nil (2022 - 20,000) A Ordinary shares of £0.01 each
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10,010 (2022 - 10) B Ordinary shares of £0.01 each
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10,010 (2022 - 10) C Ordinary shares of £0.01 each
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15,015 D Redeemable shares of £0.01 each
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5,005 E Redeemable shares of £0.01 each
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2 F Ordinary shares of £0.01 each
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2 G Ordinary shares of £0.01 each
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2 H Ordinary shares of £0.01 each
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297 I Redeemable shares of £0.01 each
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297 J Redeemable shares of £0.01 each
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Related party transactions
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There were no related party transactions during the year.
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BLUE HOUSE CONSTRUCTION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Post balance sheet events
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There were no events since the year end which materially affected the company.
The ultimate controlling parties are the directors by virtue of their shareholdings.
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