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REGISTERED NUMBER: 08312553 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Blue Nile Investment Property Limited

Blue Nile Investment Property Limited (Registered number: 08312553)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Blue Nile Investment Property Limited (Registered number: 08312553)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,053 2,566
Investment property 5 2,000,000 2,000,000
2,002,053 2,002,566

CURRENT ASSETS
Debtors 6 50,522 23,322
Cash at bank and in hand 992 406
51,514 23,728
CREDITORS
Amounts falling due within one year 7 328,713 321,621
NET CURRENT LIABILITIES (277,199 ) (297,893 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,724,854 1,704,673

CREDITORS
Amounts falling due after more than one year 8 (543,078 ) (551,959 )

PROVISIONS FOR LIABILITIES (189,394 ) (189,394 )
NET ASSETS 992,382 963,320

CAPITAL AND RESERVES
Called up share capital 400 400
Non-distributable
revaluation reserve 10 807,415 807,415
Retained earnings 184,567 155,505
SHAREHOLDERS' FUNDS 992,382 963,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Blue Nile Investment Property Limited (Registered number: 08312553)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2024 and were signed on its behalf by:





M A Khan - Director


Blue Nile Investment Property Limited (Registered number: 08312553)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Blue Nile Investment Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08312553

Registered office: Unit 2 Bittern Place
Coburg Road
London
N22 6TP

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are revalued annually at their open market value in accordance with FRSSE (effective January 2015) and the aggregate surplus or deficit is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit & loss account.

No depreciation or amortisation is provided ion investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the director these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the FRSSE (effective January 2015) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit/loss for the year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified and the amount which might be otherwise have been shown cannot be separately identified or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Blue Nile Investment Property Limited (Registered number: 08312553)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 December 2022
and 30 November 2023 13,917
DEPRECIATION
At 1 December 2022 11,351
Charge for year 513
At 30 November 2023 11,864
NET BOOK VALUE
At 30 November 2023 2,053
At 30 November 2022 2,566

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,000,000
NET BOOK VALUE
At 30 November 2023 2,000,000
At 30 November 2022 2,000,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2022 2,000,000

If investment property had not been revalued it would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 1,003,192 1,003,192

Investment property was valued on an open market basis basis on 30 November 2022 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 50,522 23,322

Blue Nile Investment Property Limited (Registered number: 08312553)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 57,544 57,544
Trade creditors - 1,611
Taxation and social security 19,853 11,298
Other creditors 251,316 251,168
328,713 321,621

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 543,078 551,959

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 543,078 551,959

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 600,622 609,503

Included within secured debts is an amount of £600,622 (2022 £609,503) in respect of bank loans repayable within 15 years. This balance is secured by the way of a fixed and floating charge over the assets of the company.

10. RESERVES
Non-distribut
revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 807,415

11. RELATED PARTY DISCLOSURES

Rent of £78,000 (2022 - £72,000) was charged to Denial.London Limited, a related party by common directorship and shareholders.

Trade debtors includes an amount of £50,522 (2022 - £23,323) relating to unpaid rent from Denial.London Limited, a related party by common directorship and shareholders.

Included within other creditors is an amount £250,417 (2022 - £250,417) owed to Denial.London Limited, a related party by common directorship and shareholders.