Company Registration No. 07013692 (England and Wales)
Indigo Blue European Limited
Unaudited accounts
for the year ended 30 November 2023
Indigo Blue European Limited
Unaudited accounts
Contents
Indigo Blue European Limited
Company Information
for the year ended 30 November 2023
Directors
A F Walker
L F Walker
J A Walker
Company Number
07013692 (England and Wales)
Registered Office
The Wagon Yard
Blackmoor
Liss
Hampshire
GU33 6BP
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Indigo Blue European Limited
Statement of financial position
as at 30 November 2023
Tangible assets
170,492
202,874
Cash at bank and in hand
8,758
7,249
Creditors: amounts falling due within one year
(497,738)
(520,407)
Net current liabilities
(332,214)
(362,146)
Total assets less current liabilities
(161,722)
(159,272)
Creditors: amounts falling due after more than one year
(110,057)
(105,121)
Net liabilities
(271,779)
(264,393)
Called up share capital
100
100
Profit and loss account
(271,879)
(264,493)
Shareholders' funds
(271,779)
(264,393)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by
J A Walker
Director
Company Registration No. 07013692
Indigo Blue European Limited
Notes to the Accounts
for the year ended 30 November 2023
Indigo Blue European Limited is a private company, limited by shares, registered in England and Wales, registration number 07013692. The registered office is The Wagon Yard, Blackmoor, Liss, Hampshire, GU33 6BP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
As shown in the financial statements, the company has total liabilities exceeding its assets by £271,778. The company meets its day to day working capital requirements through the support of the directors' loan accounts. The directors have confirmed that their support will continue for the foreseeable future. For this reason the company has decided to prepare the accounts using the going concern basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
16.67% straight line
Plant & machinery
25% straight line
Motor vehicles
20% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Indigo Blue European Limited
Notes to the Accounts
for the year ended 30 November 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 December 2022
33,132
27,530
302,218
67,867
15,757
446,504
Additions
-
-
49,500
1,458
-
50,958
Disposals
-
-
(69,500)
-
-
(69,500)
At 30 November 2023
33,132
27,530
282,218
69,325
15,757
427,962
At 1 December 2022
31,103
27,530
111,017
67,858
6,122
243,630
Charge for the year
338
-
45,356
266
2,947
48,907
On disposals
-
-
(35,067)
-
-
(35,067)
At 30 November 2023
31,441
27,530
121,306
68,124
9,069
257,470
At 30 November 2023
1,691
-
160,912
1,201
6,688
170,492
At 30 November 2022
2,029
-
191,201
9
9,635
202,874
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
130,285
149,510
Amounts falling due within one year
Trade debtors
130,873
121,540
Accrued income and prepayments
20,893
5,982
Other debtors
5,000
23,490
Indigo Blue European Limited
Notes to the Accounts
for the year ended 30 November 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,127
10,127
Obligations under finance leases and hire purchase contracts
39,715
54,315
Trade creditors
33,439
30,652
Taxes and social security
38,978
26,369
Other creditors
37,923
39,235
Loans from directors
327,836
358,909
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
89,808
74,745
8
Average number of employees
During the year the average number of employees was 6 (2022: 4).