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REGISTERED NUMBER: 09812256 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

BLUE STUDIO INTERIORS LIMITED

BLUE STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLUE STUDIO INTERIORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: S J Fairfax
I S Whitehouse





REGISTERED OFFICE: 6 High Street
BROADSTAIRS
Kent
CT10 1LH





REGISTERED NUMBER: 09812256 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

BLUE STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,984 40,933

CURRENT ASSETS
Stocks 5 15,000 25,000
Debtors 6 115,449 133,158
Cash at bank and in hand 5,799 1,290
136,248 159,448
CREDITORS
Amounts falling due within one year 7 188,992 181,452
NET CURRENT LIABILITIES (52,744 ) (22,004 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,760

)

18,929

CREDITORS
Amounts falling due after more than one
year

8

(33,260

)

(38,544

)

PROVISIONS FOR LIABILITIES - (1,778 )
NET LIABILITIES (62,020 ) (21,393 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (62,120 ) (21,493 )
SHAREHOLDERS' FUNDS (62,020 ) (21,393 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)

BALANCE SHEET - continued
31 OCTOBER 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 5 September 2024 and were signed on its behalf by:





S J Fairfax - Director


BLUE STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Blue Studio Interiors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
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.
Improvements to property - over the period of the lease
Motor vehicles - 25% on cost
Office equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are included in the profit and loss account over the relevant period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Motor Office
property vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 57,834 18,180 5,335 81,349
DEPRECIATION
At 1 November 2022 23,134 13,635 3,647 40,416
Charge for year 11,567 4,545 837 16,949
At 31 October 2023 34,701 18,180 4,484 57,365
NET BOOK VALUE
At 31 October 2023 23,133 - 851 23,984
At 31 October 2022 34,700 4,545 1,688 40,933

5. STOCKS
2023 2022
£    £   
Stocks 15,000 25,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,039 83,967
Other debtors 4,250 4,250
Directors' current accounts 55,447 33,601
Tax 18,713 11,340
115,449 133,158

BLUE STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,957 7,703
Other loans 28,260 25,000
Hire purchase contracts (see note 9) 1,969 2,954
Trade creditors 72,412 78,767
Tax 14,482 7,109
Social security and other taxes 630 392
VAT 54,205 52,214
Other creditors 3,800 5,927
Directors' current accounts 5,825 -
Accruals and deferred income 1,452 1,386
188,992 181,452

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,957 5,556
Bank loans - 2-5 years 17,871 16,667
Bank loans more 5 yr by instal 9,432 14,352
Hire purchase contracts (see note 9) - 1,969
33,260 38,544

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,432 14,352

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 1,969 2,954
Between one and five years - 1,969
1,969 4,923

Non-cancellable operating leases
2023 2022
£    £   
Within one year 17,000 17,000
Between one and five years 12,750 29,750
29,750 46,750

BLUE STUDIO INTERIORS LIMITED (REGISTERED NUMBER: 09812256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 39,217 42,131
Hire purchase contracts 1,969 4,923
41,186 47,054

Hire purchase contracts and leases are secured on the related assets.

The Bounce Back Loan of £39,217 (2022 - £42,131) is 100% guaranteed by the government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90 Ordinary A £1 90 90
10 Ordinary B £1 10 10
100 100

12. RELATED PARTY DISCLOSURES

At the end of the year, S Fairfax owed the company £55,447 (2022 - £33,326). I Whitehouse was due £5,825 from the company (2022 - £275 owed to the company).

13. GOING CONCERN

The financial statements have been prepared on a going concern basis, as the company has the continued support of the directors and the bank financing.