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Filleted
Registration number: 05629943

Blue Bay Consolidated Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Blue Bay Consolidated Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Blue Bay Consolidated Investments Ltd

Company Information

Directors

Mr N J Howell

Mr M Cleverley

Mr Paul Anthony Thomas

Registered office

Unit 51
Portmanmoor Road Industrial Estate
Ocean Park
Cardiff
CF24 5HB

Solicitors

Mctaggart Solicitors
St Andrew's House
24 St Andrew's Crescent
Cardiff
CF10 3DD

Accountants

LHP Accountants Ltd
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Blue Bay Consolidated Investments Ltd

(Registration number: 05629943)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

995,144

1,020,552

Current assets

 

Debtors

5

1,000

1,000

Cash at bank and in hand

 

36,124

5,171

 

37,124

6,171

Creditors: Amounts falling due within one year

6

(97,558)

(86,542)

Net current liabilities

 

(60,434)

(80,371)

Total assets less current liabilities

 

934,710

940,181

Creditors: Amounts falling due after more than one year

6

(304,708)

(436,492)

Net assets

 

630,002

503,689

Capital and reserves

 

Called up share capital

7

1,260

1,260

Retained earnings

628,742

502,429

Shareholders' funds

 

630,002

503,689

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr N J Howell
Director

   
     
 

Blue Bay Consolidated Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 51
Portmanmoor Road Industrial Estate
Ocean Park
Cardiff
CF24 5HB

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blue Bay Consolidated Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Blue Bay Consolidated Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

1,270,387

1,270,387

At 31 March 2024

1,270,387

1,270,387

Depreciation

At 1 April 2023

249,835

249,835

Charge for the year

25,408

25,408

At 31 March 2024

275,243

275,243

Carrying amount

At 31 March 2024

995,144

995,144

At 31 March 2023

1,020,552

1,020,552

Included within the net book value of land and buildings above is £995,145 (2023 - £1,020,553) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

1,000

1,000

 

1,000

1,000

 

Blue Bay Consolidated Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

35,403

43,251

Taxation and social security

 

10,353

9,051

Other related parties

 

265

265

Other creditors

 

999

999

Corporation tax liability

 

50,538

32,976

 

97,558

86,542

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,708

36,492

Other non-current financial liabilities

 

300,000

400,000

 

304,708

436,492

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,260

1,260

1,260

1,260

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,708

36,492

Current loans and borrowings

2024
£

2023
£

Bank borrowings

35,403

43,251