Silverfin false false 31/07/2023 01/08/2022 31/07/2023 C A Cornell 13/07/2017 L C Cornell 07/09/2020 30 July 2024 The principal activity of the Company during the financial year was developing building projects. 10864221 2023-07-31 10864221 bus:Director1 2023-07-31 10864221 bus:Director2 2023-07-31 10864221 2022-07-31 10864221 core:CurrentFinancialInstruments 2023-07-31 10864221 core:CurrentFinancialInstruments 2022-07-31 10864221 core:ShareCapital 2023-07-31 10864221 core:ShareCapital 2022-07-31 10864221 core:RetainedEarningsAccumulatedLosses 2023-07-31 10864221 core:RetainedEarningsAccumulatedLosses 2022-07-31 10864221 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-07-31 10864221 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-07-31 10864221 2022-08-01 2023-07-31 10864221 bus:FilletedAccounts 2022-08-01 2023-07-31 10864221 bus:SmallEntities 2022-08-01 2023-07-31 10864221 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10864221 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10864221 bus:Director1 2022-08-01 2023-07-31 10864221 bus:Director2 2022-08-01 2023-07-31 10864221 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure

Company No: 10864221 (England and Wales)

BLUE LAGOON DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

BLUE LAGOON DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

BLUE LAGOON DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 July 2023
BLUE LAGOON DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Current assets
Stocks 3 0 935,579
Debtors 4 2,640 100
Cash at bank and in hand 1 1,827
2,641 937,506
Creditors: amounts falling due within one year 5 ( 110,818) ( 935,045)
Net current (liabilities)/assets (108,177) 2,461
Total assets less current liabilities (108,177) 2,461
Net (liabilities)/assets ( 108,177) 2,461
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 108,277 ) 2,361
Total shareholders' (deficit)/funds ( 108,177) 2,461

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Blue Lagoon Developments Limited (registered number: 10864221) were approved and authorised for issue by the Board of Directors on 30 July 2024. They were signed on its behalf by:

C A Cornell
Director
BLUE LAGOON DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
BLUE LAGOON DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blue Lagoon Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Stocks

2023 2022
£ £
Work in progress 0 935,579

4. Debtors

2023 2022
£ £
Other debtors 2,640 100

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 57,587 771,504
Taxation and social security 0 15,722
Other creditors 53,231 147,819
110,818 935,045