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REGISTERED NUMBER: 04088853 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Bloom Developments Limited

Bloom Developments Limited (Registered number: 04088853)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

Bloom Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J N Bloom





SECRETARY: J N Bloom





REGISTERED OFFICE: The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ





REGISTERED NUMBER: 04088853 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Bloom Developments Limited (Registered number: 04088853)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,156,393 18,201,809
Investments 5 590 590
18,156,983 18,202,399

CURRENT ASSETS
Stocks 45,890 44,690
Debtors 6 5,129,079 6,783,731
Cash in hand 85,830 118,830
5,260,799 6,947,251
CREDITORS
Amounts falling due within one year 7 5,926,654 7,714,229
NET CURRENT LIABILITIES (665,855 ) (766,978 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,491,128

17,435,421

CREDITORS
Amounts falling due after more than one year 8 (4,359,481 ) (5,016,889 )

PROVISIONS FOR LIABILITIES (2,253,472 ) (1,958,433 )
NET ASSETS 10,878,175 10,460,099

CAPITAL AND RESERVES
Called up share capital 10 4 4
Share premium 98 98
Revaluation reserve 11 6,839,521 6,839,521
Retained earnings 4,038,552 3,620,476
SHAREHOLDERS' FUNDS 10,878,175 10,460,099

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Bloom Developments Limited (Registered number: 04088853)

Balance Sheet - continued
31 December 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 director and authorised for issue on 9 September 2024 and were signed by:





J N Bloom - Director


Bloom Developments Limited (Registered number: 04088853)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bloom Developments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 15 years
Land and leisure complex - not provided
Plant and machinery - 4% on cost and at variable rates on reducing balance
Anaerobic digester - Straight line over 15 years
Motor vehicles - 25% on reducing balance

Land and leisure complex

The land and leisure complex is carried at cost, less any impairment loss. Cost includes professional fees as allowed for assets held at fair value. Depreciation will commence when it is brought into use.

Anaerobic digester

The director considers that the value of the anaerobic digester is increasing; depreciation will commence once the asset is complete.

Café

This is an asset still under construction and therefore depreciation will commence once the Café is fully complete..

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
The stock of both land and fish are held at original cost.

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.


Bloom Developments Limited (Registered number: 04088853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Land and
Freehold leisure
property CafT complex
£    £    £   
COST OR VALUATION
At 1 January 2023 449,512 1,392,341 5,182,076
Additions - 57,155 294,005
Disposals - - -
Grants - - -
At 31 December 2023 449,512 1,449,496 5,476,081
DEPRECIATION
At 1 January 2023 52,253 - -
Charge for year 22,476 - -
Eliminated on disposal - - -
At 31 December 2023 74,729 - -
NET BOOK VALUE
At 31 December 2023 374,783 1,449,496 5,476,081
At 31 December 2022 397,259 1,392,341 5,182,076

Bloom Developments Limited (Registered number: 04088853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Plant and Anaerobic Motor
machinery digester vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 2,776,904 9,610,341 91,533 19,502,707
Additions 714,697 - - 1,065,857
Disposals (347,558 ) - - (347,558 )
Grants (629,410 ) - - (629,410 )
At 31 December 2023 2,514,633 9,610,341 91,533 19,591,596
DEPRECIATION
At 1 January 2023 1,200,069 - 48,576 1,300,898
Charge for year 343,284 - 10,740 376,500
Eliminated on disposal (242,195 ) - - (242,195 )
At 31 December 2023 1,301,158 - 59,316 1,435,203
NET BOOK VALUE
At 31 December 2023 1,213,475 9,610,341 32,217 18,156,393
At 31 December 2022 1,576,835 9,610,341 42,957 18,201,809

If the land and leisure complex had not been revalued it would have been included at the historical cost of £3,574,686 (2022 - £3,280,681). The complex was valued on an open market basis on 31 December 2018 by the director.

If the anaerobic digester had not been revalued it would have been included at the historical cost of £3,178,189 (2022 - £3,178,189). It was valued on an open market basis on 31 December 2016 by the director.

Bloom Developments Limited (Registered number: 04088853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,587,397 35,400 1,622,797
Additions 297,714 - 297,714
Disposals (137,000 ) - (137,000 )
At 31 December 2023 1,748,111 35,400 1,783,511
DEPRECIATION
At 1 January 2023 846,439 19,636 866,075
Charge for year 247,479 3,941 251,420
Eliminated on disposal (106,248 ) - (106,248 )
At 31 December 2023 987,670 23,577 1,011,247
NET BOOK VALUE
At 31 December 2023 760,441 11,823 772,264
At 31 December 2022 740,958 15,764 756,722

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 590
NET BOOK VALUE
At 31 December 2023 590
At 31 December 2022 590

Bloom Developments Ltd is not required to prepare group accounts as the group qualifies as a small group. The financial statements refer only to Bloom Developments Ltd.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 17,460 -
Amounts owed by group undertakings 1,075,369 615,411
Other debtors 4,036,250 6,168,320
5,129,079 6,783,731

Bloom Developments Limited (Registered number: 04088853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 2,912,530 4,249,098
Hire purchase contracts 274,293 207,523
Trade creditors 279,524 1,172,980
Amounts owed to group undertakings 1,689,815 1,854,715
Amounts owed to participating interests 47,461 47,561
Taxation and social security 527,189 154,157
Other creditors 195,842 28,195
5,926,654 7,714,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 3,525,404 4,084,864
Hire purchase contracts 584,077 582,025
Other creditors 250,000 350,000
4,359,481 5,016,889

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,753,312 2,315,136

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 3,971,743 4,515,173

The loan is secured on land at Bevercotes, plus a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4 Ordinary £1 4 4

Bloom Developments Limited (Registered number: 04088853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 6,839,521

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Bloom Developments Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bloom Developments Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Bloom Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bloom Developments Limited and state those matters that we have agreed to state to the director of Bloom Developments Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Bloom Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bloom Developments Limited. You consider that Bloom Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bloom Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


9 September 2024