BLUE 7 ENTERPRISES LTD

Company Registration Number:
09810770 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

BLUE 7 ENTERPRISES LTD

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

BLUE 7 ENTERPRISES LTD

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 2,929 2,397
Total fixed assets: 2,929 2,397
Current assets
Debtors:   306,035 368,101
Cash at bank and in hand:   9,638
Total current assets: 306,035 377,739
Creditors: amounts falling due within one year:   (318,162) (378,482)
Net current assets (liabilities): (12,127) (743)
Total assets less current liabilities: (9,198) 1,654
Total net assets (liabilities): (9,198) 1,654
Capital and reserves
Called up share capital: 3 3
Profit and loss account: (9,201) 1,651
Shareholders funds: (9,198) 1,654

The notes form part of these financial statements

BLUE 7 ENTERPRISES LTD

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2024
and signed on behalf of the board by:

Name: Mr N Schogger
Status: Director

The notes form part of these financial statements

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment: Straight line over 3 years.

Other accounting policies

Taxation: The tax expense represents the sum of the tax currently payable and deferred tax. Current tax: The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax: Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 22 22

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 9,939
Additions 2,344
At 31 October 2023 12,283
Depreciation
At 01 November 2022 7,542
Charge for year 1,812
At 31 October 2023 9,354
Net book value
At 31 October 2023 2,929
At 31 October 2022 2,397

BLUE 7 ENTERPRISES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: This loan is interest free and repayable on demand.
£
Balance at 01 November 2022 207,878
Balance at 31 October 2023 182,722