Silverfin false 31/05/2023 01/06/2022 31/05/2023 M R Cannon 02/06/2023 07/07/2000 S A T Cannon 28/05/1992 C J Mitchell 27/08/1999 13 February 2024 The principal activity of the Company during the financial year was that of the management of rural shooting events. 02614952 2023-05-31 02614952 bus:Director1 2023-05-31 02614952 bus:Director2 2023-05-31 02614952 bus:Director3 2023-05-31 02614952 2022-05-31 02614952 core:CurrentFinancialInstruments 2023-05-31 02614952 core:CurrentFinancialInstruments 2022-05-31 02614952 core:ShareCapital 2023-05-31 02614952 core:ShareCapital 2022-05-31 02614952 core:RevaluationReserve 2023-05-31 02614952 core:RevaluationReserve 2022-05-31 02614952 core:RetainedEarningsAccumulatedLosses 2023-05-31 02614952 core:RetainedEarningsAccumulatedLosses 2022-05-31 02614952 core:LandBuildings 2022-05-31 02614952 core:OtherPropertyPlantEquipment 2022-05-31 02614952 core:LandBuildings 2023-05-31 02614952 core:OtherPropertyPlantEquipment 2023-05-31 02614952 2022-06-01 2023-05-31 02614952 bus:FullAccounts 2022-06-01 2023-05-31 02614952 bus:SmallEntities 2022-06-01 2023-05-31 02614952 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 02614952 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02614952 bus:Director1 2022-06-01 2023-05-31 02614952 bus:Director2 2022-06-01 2023-05-31 02614952 bus:Director3 2022-06-01 2023-05-31 02614952 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 02614952 2021-06-01 2022-05-31 02614952 core:LandBuildings 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 02614952 (England and Wales)

BLAYBRIDGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

BLAYBRIDGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

BLAYBRIDGE LIMITED

BALANCE SHEET

As at 31 May 2023
BLAYBRIDGE LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,026,070 3,320,700
Investments 75 75
6,026,145 3,320,775
Current assets
Stocks 0 1,407
Debtors 4 41,295 26,415
Cash at bank and in hand 5 71,461 44,966
112,756 72,788
Creditors: amounts falling due within one year 6 ( 4,564,940) ( 4,339,485)
Net current liabilities (4,452,184) (4,266,697)
Total assets less current liabilities 1,573,961 (945,922)
Provision for liabilities 7 ( 522,716) 0
Net assets/(liabilities) 1,051,245 ( 945,922)
Capital and reserves
Called-up share capital 720,130 720,130
Revaluation reserve 2,188,454 0
Profit and loss account ( 1,857,339 ) ( 1,666,052 )
Total shareholders' funds/(deficit) 1,051,245 ( 945,922)

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Blaybridge Limited (registered number: 02614952) were approved and authorised for issue by the Director on 13 February 2024. They were signed on its behalf by:

C J Mitchell
Director
BLAYBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
BLAYBRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blaybridge Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendford Manor, 33 Hendford, Yeovil, BA20 1UN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 25 % reducing balance

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 June 2022 3,288,830 305,151 3,593,981
Additions 0 2,214 2,214
Revaluations 2,711,170 0 2,711,170
At 31 May 2023 6,000,000 307,365 6,307,365
Accumulated depreciation
At 01 June 2022 0 273,281 273,281
Charge for the financial year 0 8,014 8,014
At 31 May 2023 0 281,295 281,295
Net book value
At 31 May 2023 6,000,000 26,070 6,026,070
At 31 May 2022 3,288,830 31,870 3,320,700

Revaluation of tangible assets

Freehold and leasehold land and buildings were revalued by the directors to £6,000,000. This value is considered to be the fair value of the freehold land and buildings as at the year end date.

4. Debtors

2023 2022
£ £
Trade debtors 5,571 13,702
Other debtors 35,724 12,713
41,295 26,415

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 71,461 44,966

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 7,532 4,111
Other taxation and social security 2,167 5,873
Other creditors 4,555,241 4,329,501
4,564,940 4,339,485

7. Provision for liabilities

2023 2022
£ £
Deferred tax 522,716 0