Bluebell Student Properties Ltd
Registered number: 11507990
Statement of Financial Position
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 416,999 277,097
Current assets
Debtors 5 - 21,709
Cash at bank and in hand 7,326 2,853
7,326 24,562
Creditors: amounts falling due within one year 6 (388,326) (386,746)
Net current liabilities (381,000) (362,184)
Total assets less current liabilities 35,999 (85,087)
Provisions for liabilities (7,727) -
Net assets/(liabilities) 28,272 (85,087)
Capital and reserves
Called up share capital 100 100
Fair value reserve 7 30,779 (82,210)
Profit and loss account (2,607) (2,977)
Shareholder's funds 28,272 (85,087)
The director is 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 director acknowledges her 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 in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Carr
Director
Approved by the board on 7 March 2024
Bluebell Student Properties Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
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:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction 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.
2 Exceptional items 2023 2022
£ £
Value adjustments on fixed assets and current asset investments (140,000) (50,000)
(140,000) (50,000)
3 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2022 275,000 3,271 278,271
Additions - 568 568
Fair value movements 140,000 - 140,000
At 31 August 2023 415,000 3,839 418,839
Depreciation
At 1 September 2022 - 1,174 1,174
Charge for the year - 666 666
At 31 August 2023 - 1,840 1,840
Net book value
At 31 August 2023 415,000 1,999 416,999
At 31 August 2022 275,000 2,097 277,097
Freehold land and buildings: 2023 2022
£ £
Historical cost 376,494 376,494
376,494 376,494
5 Debtors 2023 2022
£ £
Deferred tax asset - 19,284
Other debtors - 2,425
- 21,709
6 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 1,056 1,008
Other taxes and social security costs 40 255
Other creditors 387,230 385,483
388,326 386,746
7 Fair value reserve 2023 2022
£ £
At 1 September 2022 (82,210) (122,710)
Gain on revaluation of land and buildings 140,000 50,000
Deferred taxation arising on the revaluation of land and buildings (27,011) (9,500)
At 31 August 2023 30,779 (82,210)
8 Other information
Bluebell Student Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Santina Close
Farnham
Surrey
GU9 0LD
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