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BLAKEY DEVELOPMENTS LIMITED

Registered Number
04873657
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

BLAKEY DEVELOPMENTS LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

A E BLAKEY
P BLAKEY

Company Secretary

A E BLAKEY

Registered Address

Jenkins Farnhouse Jenkins Lane
Edge
Stroud
GL6 6NB

Registered Number

04873657 (England and Wales)
BLAKEY DEVELOPMENTS LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets336,55820,710
36,55820,710
Current assets
Stocks825,354689,222
Debtors7,05213,018
Cash at bank and on hand14,7256,129
847,131708,369
Creditors amounts falling due within one year4(1,014,790)(862,514)
Net current assets (liabilities)(167,659)(154,145)
Total assets less current liabilities(131,101)(133,435)
Creditors amounts falling due after one year5(9,558)(15,292)
Net assets(140,659)(148,727)
Capital and reserves
Called up share capital11
Profit and loss account(140,660)(148,728)
Shareholders' funds(140,659)(148,727)
The financial statements were approved and authorised for issue by the Board of Directors on 21 August 2024, and are signed on its behalf by:
P BLAKEY
Director
Registered Company No. 04873657
BLAKEY DEVELOPMENTS 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 office is Jenkins Farmhouse, Jenkins Lane, Edge, Stroud, Glos, GL6 6NB.
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.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. 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:

Straight line (years)
Plant and machinery5
Vehicles5
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. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
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 year00
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 December 22-22,59322,593
Additions23,500-23,500
At 30 November 2323,50022,59346,093
Depreciation and impairment
At 01 December 22-1,8831,883
Charge for year3,1334,5197,652
At 30 November 233,1336,4029,535
Net book value
At 30 November 2320,36716,19136,558
At 30 November 22-20,71020,710
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,86710,951
Bank borrowings and overdrafts292,760-
Amounts owed to related parties620,890815,162
Finance lease and HP contracts5,7335,733
Accrued liabilities and deferred income91,54030,668
Total1,014,790862,514
5.Creditors: amounts due after one year

2023

2022

££
Other creditors9,55815,292
Total9,55815,292
6.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts9,55815,292
Amounts due after more than one year.
7.Related party transactions
During the year, amounts totalling £210,670 (2022: £815,162) have been introduced to the company by the directors. At the balance sheet date the amount outstanding is £620,890 (2022: £815,162). Interest has been accrued at 10% per annum and there is no fixed date for repayment of the loan.