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REGISTERED NUMBER: 09724868 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Blue Spruce Properties Limited

Blue Spruce Properties Limited (Registered number: 09724868)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Blue Spruce Properties Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: C E Brown
N A Brown
H C Brown





REGISTERED OFFICE: Oak Apple House
North Street
Milborne Port
Sherborne
Dorset
DT9 5EW





BUSINESS ADDRESS: Motivo
Bluebell Way
Yeovil
BA20 2FG





REGISTERED NUMBER: 09724868 (England and Wales)





ACCOUNTANTS: Silbury Accountants Limited
Chartered Accountants
Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW

Blue Spruce Properties Limited (Registered number: 09724868)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 22,688 26,184

CURRENT ASSETS
Inventories 35,000 125,000
Debtors 5 439,421 275,429
Cash at bank 12,346 16,642
486,767 417,071
CREDITORS
Amounts falling due within one year 6 149,049 91,603
NET CURRENT ASSETS 337,718 325,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,406

351,652

CREDITORS
Amounts falling due after more than one
year

7

20,928

25,399
NET ASSETS 339,478 326,253

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 339,378 326,153
SHAREHOLDERS' FUNDS 339,478 326,253

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 Spruce Properties Limited (Registered number: 09724868)

Statement of Financial Position - 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 30 August 2024 and were signed on its behalf by:





C E Brown - Director


Blue Spruce Properties Limited (Registered number: 09724868)

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

1. STATUTORY INFORMATION

Blue Spruce Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. In respect of land purchased and sold the revenue is accounted for upon completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Blue Spruce Properties Limited (Registered number: 09724868)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 December 2022 46,349
Additions 4,000
At 30 November 2023 50,349
DEPRECIATION
At 1 December 2022 20,165
Charge for year 7,496
At 30 November 2023 27,661
NET BOOK VALUE
At 30 November 2023 22,688
At 30 November 2022 26,184

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 205,741 42,000
Other debtors 233,680 233,429
439,421 275,429

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 4,471 4,471
Trade creditors 90,896 25,176
Taxation and social security 35,477 32,925
Other creditors 18,205 29,031
149,049 91,603

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 20,928 25,399

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

Blue Spruce Properties Limited (Registered number: 09724868)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
C E Brown
Balance outstanding at start of year 84,421 43,063
Amounts advanced 119,980 84,421
Amounts repaid (183,000 ) (43,063 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,401 84,421

N A Brown
Balance outstanding at start of year 84,421 43,063
Amounts advanced 119,981 84,421
Amounts repaid (183,000 ) (43,063 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,402 84,421

H C Brown
Balance outstanding at start of year 710 10,893
Amounts advanced - 710
Amounts repaid (710 ) (10,893 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 710

Interest has been charged at the official rate of interest. The loan accounts outstanding at 30 November 2023 were repaid on 30 August 2024 with a dividend being declared.

10. GOING CONCERN

In August 2020, South Somerset District Council, along with the other Somerset Councils and Dorset Council, received a letter from Natural England concerning high levels of phosphates on the Somerset Levels and Moors and stressing the need to protect them from further phosphate pollution. In light of a court judgement (known as Dutch N), Natural England advised all of the Local Planning Authorities within the catchment to take measures to protect the Somerset Levels and Moors when determining planning submissions that involve overnight accommodation. This resulted in all Councils within the entire catchment area of the RAMSAR effectively placing a moratorium on determining residential planning applications, which impacted significantly on our ability to trade land and commence the construction of residential developments. We can confirm that in the last two years we have been successful in devising phosphate mitigation strategies that have been accepted by Natural England and resulted in several residential planning permissions being secured. Inevitably there has been an unavoidable time lag between securing planning permissions and either trading the sites and/or commencing the construction projects but that process is now complete and the company is now on course to resume trading at its full capacity.