REGISTERED NUMBER: |
Financial Statements for the Year Ended 30th June 2023 |
for |
Bluline Gloucestershire Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30th June 2023 |
for |
Bluline Gloucestershire Limited |
Bluline Gloucestershire Limited (Registered number: 08789114) |
Contents of the Financial Statements |
for the Year Ended 30th June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bluline Gloucestershire Limited |
Company Information |
for the Year Ended 30th June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
(Statutory Auditor) |
Thorneloe House |
25 Barbourne Road |
Worcester |
WR1 1RU |
Bluline Gloucestershire Limited (Registered number: 08789114) |
Balance Sheet |
30th June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
RESERVES |
Income and expenditure account |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bluline Gloucestershire Limited (Registered number: 08789114) |
Notes to the Financial Statements |
for the Year Ended 30th June 2023 |
1. | STATUTORY INFORMATION |
Bluline Gloucestershire Limited is a |
In the event of the company being wound up, the liability in respect of guarantee is limited to £1 per corporate member of the company. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Subscription fee income is recognised on a straight line basis over the period to which they relate. Administration fees are recognised in line with when the service of assisting claimants with submitting a claim has been provided to those claimants. |
FINANCIAL INSTRUMENTS |
Financial instruments are recognised when the company becomes party to contractual provisions of the instrument. |
Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic Financial Assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic Financial Liabilities |
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction. |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
The company applies the Mutual Trading exemption for corporation tax on profits arising from its trading activities. Any gains arising on the sale of investments, or interest received is taxed at the applicable rate. |
Bluline Gloucestershire Limited (Registered number: 08789114) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
2. | ACCOUNTING POLICIES - continued |
LISTED INVESTMENTS |
Listed investments are recognised initially at fair value which is normally the transaction price, and revalued annually to fair value at the balance sheet date. Gains and losses arising on the revaluations are recorded in the income statement. |
PROVISIONS FOR LIABILITIES |
Provisions are recognised when the company has a present obligation as a result of a past event, and it is probable that the company will be required to settle that obligation. Provisions are measured at the directors' best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value where the effect is material. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st July 2022 |
Revaluations |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
Accruals and deferred income |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | - | 12,285 |
Claim cost provision | 86,226 | 82,843 |
Bluline Gloucestershire Limited (Registered number: 08789114) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
7. | PROVISIONS FOR LIABILITIES - continued |
Claims |
Deferred | cost |
tax | provision |
£ | £ |
Balance at 1st July 2022 |
Provided during year |
Credit to Statement of Income and Retained Earnings during year | ( |
) |
Utilised during year | ( |
) |
Balance at 30th June 2023 |
The claim cost provision is for future claim costs for claim applications outstanding at the year end, where claims had not been fully settled at the year end. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |