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Registration number: 14216656

Bluebell Financial Management Ltd

Filleted Unaudited Financial Statements

for the Period from 5 July 2022 to 31 December 2023

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Company Information

Directors

Mrs C Matravers

Mr P D Matravers

Registered office

Courtmoor Farm
Upottery
Honiton
Devon
EX14 9QA

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

5,830

Current assets

 

Debtors

5

8,388

Cash at bank and in hand

 

23,423

 

31,811

Creditors: Amounts falling due within one year

6

(89,516)

Net current liabilities

 

(57,705)

Total assets less current liabilities

 

(51,875)

Provisions for liabilities

(1,108)

Net liabilities

 

(52,983)

Capital and reserves

 

Called up share capital

10,000

Profit and loss account

(62,983)

Total equity

 

(52,983)

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 April 2024 and signed on its behalf by:
 

.........................................
Mrs C Matravers
Director

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Courtmoor Farm
Upottery
Honiton
Devon
EX14 9QA
England & Wales

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end the company has net liabilities. The directors have confirmed that they will continue to support the company for the foreseeable future and as a result, the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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.

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% Straight Line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

 

Bluebell Financial Management Ltd
(Registration number: 14216656)

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

7,288

7,288

At 31 December 2023

7,288

7,288

Depreciation

Charge for the period

1,458

1,458

At 31 December 2023

1,458

1,458

Carrying amount

At 31 December 2023

5,830

5,830

5

Debtors

2023
£

Trade debtors

1,288

Other debtors

6,085

Prepayments and accrued income

1,015

Total current trade and other debtors

8,388

6

Creditors

2023
£

Due within one year

Taxation and social security

498

Other creditors

87,518

Accrued expenses

1,500

89,516