2022-12-012023-11-302023-11-30false03110403BLUE CHIP TECHNOLOGY LIMITED2024-08-0826200iso4217:GBPxbrli:pure031104032022-12-01031104032023-11-30031104032022-12-012023-11-30031104032021-12-01031104032022-11-30031104032021-12-012022-11-3003110403bus:SmallEntities2022-12-012023-11-3003110403bus:AuditExempt-NoAccountantsReport2022-12-012023-11-3003110403bus:FullAccounts2022-12-012023-11-3003110403bus:PrivateLimitedCompanyLtd2022-12-012023-11-3003110403core:WithinOneYear2023-11-3003110403core:AfterOneYear2023-11-3003110403core:WithinOneYear2022-11-3003110403core:AfterOneYear2022-11-3003110403core:ShareCapital2023-11-3003110403core:SharePremium2023-11-3003110403core:RevaluationReserve2023-11-3003110403core:OtherReservesSubtotal2023-11-3003110403core:RetainedEarningsAccumulatedLosses2023-11-3003110403core:ShareCapital2022-11-3003110403core:SharePremium2022-11-3003110403core:RevaluationReserve2022-11-3003110403core:OtherReservesSubtotal2022-11-3003110403core:RetainedEarningsAccumulatedLosses2022-11-3003110403core:LandBuildings2023-11-3003110403core:PlantMachinery2023-11-3003110403core:Vehicles2023-11-3003110403core:FurnitureFittings2023-11-3003110403core:OfficeEquipment2023-11-3003110403core:NetGoodwill2023-11-3003110403core:IntangibleAssetsOtherThanGoodwill2023-11-3003110403core:ListedExchangeTraded2023-11-3003110403core:UnlistedNon-exchangeTraded2023-11-3003110403core:LandBuildings2022-11-3003110403core:PlantMachinery2022-11-3003110403core:Vehicles2022-11-3003110403core:FurnitureFittings2022-11-3003110403core:OfficeEquipment2022-11-3003110403core:NetGoodwill2022-11-3003110403core:IntangibleAssetsOtherThanGoodwill2022-11-3003110403core:ListedExchangeTraded2022-11-3003110403core:UnlistedNon-exchangeTraded2022-11-3003110403core:LandBuildings2022-12-012023-11-3003110403core:PlantMachinery2022-12-012023-11-3003110403core:Vehicles2022-12-012023-11-3003110403core:FurnitureFittings2022-12-012023-11-3003110403core:OfficeEquipment2022-12-012023-11-3003110403core:NetGoodwill2022-12-012023-11-3003110403core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3003110403core:ListedExchangeTraded2022-12-012023-11-3003110403core:UnlistedNon-exchangeTraded2022-12-012023-11-3003110403core:MoreThanFiveYears2022-12-012023-11-3003110403core:Non-currentFinancialInstruments2023-11-3003110403core:Non-currentFinancialInstruments2022-11-3003110403dpl:CostSales2022-12-012023-11-3003110403dpl:DistributionCosts2022-12-012023-11-3003110403core:LandBuildings2022-12-012023-11-3003110403core:PlantMachinery2022-12-012023-11-3003110403core:Vehicles2022-12-012023-11-3003110403core:FurnitureFittings2022-12-012023-11-3003110403core:OfficeEquipment2022-12-012023-11-3003110403dpl:AdministrativeExpenses2022-12-012023-11-3003110403core:NetGoodwill2022-12-012023-11-3003110403core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3003110403dpl:GroupUndertakings2022-12-012023-11-3003110403dpl:ParticipatingInterests2022-12-012023-11-3003110403dpl:GroupUndertakingscore:ListedExchangeTraded2022-12-012023-11-3003110403core:ListedExchangeTraded2022-12-012023-11-3003110403dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-12-012023-11-3003110403core:UnlistedNon-exchangeTraded2022-12-012023-11-3003110403dpl:CostSales2021-12-012022-11-3003110403dpl:DistributionCosts2021-12-012022-11-3003110403core:LandBuildings2021-12-012022-11-3003110403core:PlantMachinery2021-12-012022-11-3003110403core:Vehicles2021-12-012022-11-3003110403core:FurnitureFittings2021-12-012022-11-3003110403core:OfficeEquipment2021-12-012022-11-3003110403dpl:AdministrativeExpenses2021-12-012022-11-3003110403core:NetGoodwill2021-12-012022-11-3003110403core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-3003110403dpl:GroupUndertakings2021-12-012022-11-3003110403dpl:ParticipatingInterests2021-12-012022-11-3003110403dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012022-11-3003110403core:ListedExchangeTraded2021-12-012022-11-3003110403dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012022-11-3003110403core:UnlistedNon-exchangeTraded2021-12-012022-11-3003110403core:NetGoodwill2023-11-3003110403core:IntangibleAssetsOtherThanGoodwill2023-11-3003110403core:LandBuildings2023-11-3003110403core:PlantMachinery2023-11-3003110403core:Vehicles2023-11-3003110403core:FurnitureFittings2023-11-3003110403core:OfficeEquipment2023-11-3003110403core:AfterOneYear2023-11-3003110403core:WithinOneYear2023-11-3003110403core:ListedExchangeTraded2023-11-3003110403core:UnlistedNon-exchangeTraded2023-11-3003110403core:ShareCapital2023-11-3003110403core:SharePremium2023-11-3003110403core:RevaluationReserve2023-11-3003110403core:OtherReservesSubtotal2023-11-3003110403core:RetainedEarningsAccumulatedLosses2023-11-3003110403core:NetGoodwill2022-11-3003110403core:IntangibleAssetsOtherThanGoodwill2022-11-3003110403core:LandBuildings2022-11-3003110403core:PlantMachinery2022-11-3003110403core:Vehicles2022-11-3003110403core:FurnitureFittings2022-11-3003110403core:OfficeEquipment2022-11-3003110403core:AfterOneYear2022-11-3003110403core:WithinOneYear2022-11-3003110403core:ListedExchangeTraded2022-11-3003110403core:UnlistedNon-exchangeTraded2022-11-3003110403core:ShareCapital2022-11-3003110403core:SharePremium2022-11-3003110403core:RevaluationReserve2022-11-3003110403core:OtherReservesSubtotal2022-11-3003110403core:RetainedEarningsAccumulatedLosses2022-11-3003110403core:NetGoodwill2021-12-0103110403core:IntangibleAssetsOtherThanGoodwill2021-12-0103110403core:LandBuildings2021-12-0103110403core:PlantMachinery2021-12-0103110403core:Vehicles2021-12-0103110403core:FurnitureFittings2021-12-0103110403core:OfficeEquipment2021-12-0103110403core:AfterOneYear2021-12-0103110403core:WithinOneYear2021-12-0103110403core:ListedExchangeTraded2021-12-0103110403core:UnlistedNon-exchangeTraded2021-12-0103110403core:ShareCapital2021-12-0103110403core:SharePremium2021-12-0103110403core:RevaluationReserve2021-12-0103110403core:OtherReservesSubtotal2021-12-0103110403core:RetainedEarningsAccumulatedLosses2021-12-0103110403core:AfterOneYear2022-12-012023-11-3003110403core:WithinOneYear2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:CostValuation2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-012023-11-3003110403core:Non-currentFinancialInstrumentscore:CostValuation2023-11-3003110403core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-11-3003110403core:Non-currentFinancialInstrumentscore:CostValuation2022-11-3003110403core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-11-3003110403core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-11-3003110403bus:Director12022-12-012023-11-3003110403bus:Director22022-12-012023-11-30

BLUE CHIP TECHNOLOGY LIMITED

Registered Number
03110403
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

BLUE CHIP TECHNOLOGY LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

HALEY, Tony Jon
THOMSON, David Thomas

Company Secretary

HALEY, Tony Jon

Registered Address

Chowley Oak
Tattenhall
Chester
CH3 9EX

Registered Number

03110403 (England and Wales)
BLUE CHIP TECHNOLOGY LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets4197,015220,473
197,015220,473
Current assets
Stocks51,226,2871,487,075
Debtors632,135695,934
Cash at bank and on hand1,410,105630,048
3,268,5272,813,057
Creditors amounts falling due within one year6(982,669)(898,297)
Net current assets (liabilities)2,285,8581,914,760
Total assets less current liabilities2,482,8732,135,233
Creditors amounts falling due after one year7(31,804)(82,384)
Provisions for liabilities9(48,096)(103,706)
Net assets2,402,9731,949,143
Capital and reserves
Called up share capital130,000130,000
Share premium115,067115,067
Profit and loss account2,157,9061,704,076
Shareholders' funds2,402,9731,949,143
The financial statements were approved and authorised for issue by the Board of Directors on 8 August 2024, and are signed on its behalf by:
THOMSON, David Thomas
Director
Registered Company No. 03110403
BLUE CHIP TECHNOLOGY LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Plant & machinery - 10% - 25% Fixtures, fittings & equipment - 2 to 7 years
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20232022
Average number of employees during the year3230
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 22432,500432,500
At 30 November 23432,500432,500
Amortisation and impairment
At 01 December 22432,500432,500
At 30 November 23432,500432,500
Net book value
At 30 November 23--
At 30 November 22--
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 December 221,365,350104,8961,470,246
Additions16,2891,30017,589
At 30 November 231,381,639106,1961,487,835
Depreciation and impairment
At 01 December 221,155,31094,4631,249,773
Charge for year36,3034,74441,047
At 30 November 231,191,61399,2071,290,820
Net book value
At 30 November 23190,0266,989197,015
At 30 November 22210,04010,433220,473
5.Stocks

2023

2022

££
Work in progress1,226,2871,487,075
Total1,226,2871,487,075
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables399,367628,001
Bank borrowings and overdrafts10,64810,648
Taxation and social security375,39887,980
Finance lease and HP contracts42,92240,897
Other creditors23,30121,704
Accrued liabilities and deferred income131,033109,067
Total982,669898,297
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts16,47126,320
Other creditors15,33356,064
Total31,80482,384
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts15,33456,064
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)48,09653,706
Other provisions-50,000
Total48,096103,706
10.Operating lease commitments
At 30 November 2023 (Company year end), the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £Nil. (2022 – £11,267)
11.Controlling party
The company is 100% owned by Blue Chip Technology Trustees Limited. Their registered office is Chowley Oak, Tattenhall, Chester, UK, CH3 9EX.