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REGISTERED NUMBER: 12882484 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BLUE OCTOPUS HOLDINGS LTD

BLUE OCTOPUS HOLDINGS LTD (REGISTERED NUMBER: 12882484)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLUE OCTOPUS HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: G L Burrows
S K Gill





REGISTERED OFFICE: Winterton House
High Street
Westerham
TN16 1AJ





REGISTERED NUMBER: 12882484 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

BLUE OCTOPUS HOLDINGS LTD (REGISTERED NUMBER: 12882484)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - 52,570
Investments 5 193,588 557,378
193,588 609,948

CURRENT ASSETS
Debtors 6 - 100

CREDITORS
Amounts falling due within one year 7 1,200 316,576
NET CURRENT LIABILITIES (1,200 ) (316,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

192,388

293,472

CREDITORS
Amounts falling due after more than one
year

8

-

285,000
NET ASSETS 192,388 8,472

CAPITAL AND RESERVES
Called up share capital 9 90 100
Capital redemption reserve 10 10 -
Retained earnings 10 192,288 8,372
SHAREHOLDERS' FUNDS 192,388 8,472

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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





G L Burrows - Director


BLUE OCTOPUS HOLDINGS LTD (REGISTERED NUMBER: 12882484)

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


1. STATUTORY INFORMATION

Blue Octopus Holdings Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going concern
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The company has positive reserves and no significant long term liabilities. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future.

Thus, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Customer list are being amortised evenly over their estimated useful life of 10 years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

BLUE OCTOPUS HOLDINGS LTD (REGISTERED NUMBER: 12882484)

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


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Customer
list
£
COST
At 1 August 2022 62,460
Disposals (62,460 )
At 31 July 2023 -
AMORTISATION
At 1 August 2022 9,890
Amortisation for year 3,643
Eliminated on disposal (13,533 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 52,570

During the year, the company has disposed of the investment in full as part of its transfer of David Haskoll Ltd.

BLUE OCTOPUS HOLDINGS LTD (REGISTERED NUMBER: 12882484)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 August 2022 557,378
Additions 231,256
Disposals (595,046 )
At 31 July 2023 193,588
NET BOOK VALUE
At 31 July 2023 193,588
At 31 July 2022 557,378

The company's investments at the Balance Sheet date in the share capital of companies include the following:


GS London Markets Ltd
Registered office: England
Nature of business: Insurance agents and brokers
%
Class of shares: holding
Ordinary 60.00
31.3.23 31.3.22
£ £
Aggregate capital and reserves 94,071 68,374
Profit for the year 73,247 56,104

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors - 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed to group undertakings - 149,744
Corporation tax - 597
Other creditors 1,200 166,235
1,200 316,576

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Directors' loan accounts - 285,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
90 Ordinary £1 90 100

During the year, the company repurchased and cancelled 10 ordinary £1 shares at £2,000 per share.

BLUE OCTOPUS HOLDINGS LTD (REGISTERED NUMBER: 12882484)

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


10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 August 2022 8,372 - 8,372
Profit for the year 203,916 203,916
Purchase of own shares (20,000 ) 10 (19,990 )
At 31 July 2023 192,288 10 192,298

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date the company owed a director £nil (2022: £285,000). Interest was chargeable on the loan at 8% per annum.

During the year, the company sold 100% shares of David Haskoll Limited to Character Investments Ltd and acquired 60% shares of GS London Markets Ltd as part of consideration.

12. ULTIMATE CONTROLLING PARTY

As at the balance sheet date, the company considers the directors to be the ultimate controlling party.