1 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 4,000,000 362,200 4,362,200 4,362,200 4,000,000 xbrli:pure xbrli:shares iso4217:GBP 08116436 2022-07-01 2023-06-30 08116436 2023-06-30 08116436 2022-06-30 08116436 2021-07-01 2022-06-30 08116436 2022-06-30 08116436 bus:Director3 2022-07-01 2023-06-30 08116436 core:LandBuildings 2022-07-01 2023-06-30 08116436 core:WithinOneYear 2023-06-30 08116436 core:WithinOneYear 2022-06-30 08116436 core:ShareCapital 2023-06-30 08116436 core:ShareCapital 2022-06-30 08116436 core:RevaluationReserve 2023-06-30 08116436 core:RevaluationReserve 2022-06-30 08116436 core:RetainedEarningsAccumulatedLosses 2023-06-30 08116436 core:RetainedEarningsAccumulatedLosses 2022-06-30 08116436 core:LandBuildings 2023-06-30 08116436 core:LandBuildings 2022-06-30 08116436 core:LandBuildings 2022-06-30 08116436 bus:Director1 2022-07-01 2023-06-30 08116436 bus:SmallEntities 2022-07-01 2023-06-30 08116436 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08116436 bus:FullAccounts 2022-07-01 2023-06-30 08116436 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 08116436 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 08116436
BlueDiamond Trading Limited
Filleted Unaudited Financial Statements
30 June 2023
BlueDiamond Trading Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
4,362,200
4,000,000
Current assets
Debtors: due within one year
6
462,580
384,208
Cash at bank and in hand
604
21,695
---------
---------
463,184
405,903
Creditors: amounts falling due within one year
7
898,662
402,031
---------
---------
Net current (liabilities)/assets
( 435,478)
3,872
------------
------------
Total assets less current liabilities
3,926,722
4,003,872
Accruals and deferred income
37,975
45,905
------------
------------
Net assets
3,888,747
3,957,967
------------
------------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
4,000,000
4,000,000
Profit and loss account
( 111,353)
( 42,133)
------------
------------
Shareholders funds
3,888,747
3,957,967
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BlueDiamond Trading Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 22 March 2024 , and are signed on behalf of the board by:
Mr D Dhanoa
Director
Company registration number: 08116436
BlueDiamond Trading Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Ruddlesway, Windsor, Berkshire, SL4 5SF, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Land and buildings
£
Cost
At 1 July 2022
4,000,000
Additions
362,200
------------
At 30 June 2023
4,362,200
------------
Depreciation
At 1 July 2022 and 30 June 2023
------------
Carrying amount
At 30 June 2023
4,362,200
------------
At 30 June 2022
4,000,000
------------
Tangible assets held at valuation
Directors valuation for 97-109 Vicar Lane,Leeds is £4 million which is based on planning permission for a 106 bed hotel.
6. Debtors
Debtors falling due within one year are as follows:
2023
2022
£
£
Other debtors
462,580
384,208
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
65,758
Corporation tax
246
Social security and other taxes
7,776
Other creditors - Terrestrial 3 Ltd
1,000
1,000
Other creditors
831,904
393,009
---------
---------
898,662
402,031
---------
---------
8. Related party transactions
The company was under the control of Mr Darbara Singh Dhanoa throughout the year. Mr Dhanoa is the director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.