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REGISTERED NUMBER: 07899908 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BLUE CHIP HOMES (UK) LIMITED

BLUE CHIP HOMES (UK) LIMITED (REGISTERED NUMBER: 07899908)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLUE CHIP HOMES (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: H D Halsey





SECRETARY: Countess C Oldofredi





REGISTERED OFFICE: Messack House
St Just in Roseland
TRURO
Cornwall
TR2 5JL





REGISTERED NUMBER: 07899908 (England and Wales)





ACCOUNTANTS: Lang Bennetts
The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG

BLUE CHIP HOMES (UK) LIMITED (REGISTERED NUMBER: 07899908)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11 15
Investment property 6 2,950,000 2,950,000
2,950,011 2,950,015

CURRENT ASSETS
Debtors 7 5,101 3,922
Cash at bank and in hand 77,766 107,113
82,867 111,035
CREDITORS
Amounts falling due within one year 8 1,275,134 1,370,803
NET CURRENT LIABILITIES (1,192,267 ) (1,259,768 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,757,744

1,690,247

CREDITORS
Amounts falling due after more than one year 9 (970,000 ) (970,000 )

PROVISIONS FOR LIABILITIES (352,240 ) (352,240 )
NET ASSETS 435,504 368,007

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 11 1,001,656 1,001,656
Retained earnings (566,153 ) (633,650 )
SHAREHOLDERS' FUNDS 435,504 368,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BLUE CHIP HOMES (UK) LIMITED (REGISTERED NUMBER: 07899908)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 April 2024 and were signed by:





H D Halsey - Director


BLUE CHIP HOMES (UK) LIMITED (REGISTERED NUMBER: 07899908)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Blue Chip Homes (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown as the most recent valuation as at the year end. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

BLUE CHIP HOMES (UK) LIMITED (REGISTERED NUMBER: 07899908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 2,698
DEPRECIATION
At 1 January 2023 2,683
Charge for year 4
At 31 December 2023 2,687
NET BOOK VALUE
At 31 December 2023 11
At 31 December 2022 15

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,950,000
NET BOOK VALUE
At 31 December 2023 2,950,000
At 31 December 2022 2,950,000

The investment property was valued on 31 December 2016 by the director, on an open market basis. The current value of the investment property is £2,950,000 and it has a historical base cost of £1,096,104.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 1,353,896
Cost 1,596,104
2,950,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,101 3,922

BLUE CHIP HOMES (UK) LIMITED (REGISTERED NUMBER: 07899908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 338,580 438,580
Taxation and social security 20,259 16,061
Other creditors 916,295 916,162
1,275,134 1,370,803

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 970,000 970,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Loan due to HMI Traders Ltd 970,000 970,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Secured loan 970,000 970,000

The loan is secured by a deed of debenture in favour of HMI Traders Limited dated 4 September 2012.

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 1,001,656