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COMPANY REGISTRATION NUMBER: 7269727
Blueberry Developments Estates Limited
Unaudited Financial Statements
31 August 2023
Blueberry Developments Estates Limited
Financial Statements
Year ended 31 August 2023
Contents
Page
Directors' report
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
Blueberry Developments Estates Limited
Directors' Report
Year ended 31 August 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2023 .
Principal activities
The principal activity of the company during the year was property development.
Directors
The directors who served the company during the year were as follows:
Mr M C Rigden
Mr S C Rigden
Mrs K A Rigden was a director from 1 February 2024 until 23 May 2024
Principal activity
The company's principal activity is property development.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 September 2024 and signed on behalf of the board by:
Mr M C Rigden
Director
Registered office:
12 Cliff Street
Ramsgate
Kent
UK
CT11 9HS
Blueberry Developments Estates Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Blueberry Developments Estates Limited
Year ended 31 August 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 August 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
GEARY PARTNERSHIP Chartered accountants
Church Hill Farm Elmstone Canterbury Kent CT3 1HN
13 September 2024
Blueberry Developments Estates Limited
Statement of Income and Retained Earnings
Year ended 31 August 2023
2023
2022
Note
£
£
Turnover
1,336,000
2,036,000
------------
------------
Gross profit
1,336,000
2,036,000
Administrative expenses
199,175
139,646
Other operating income
69,827
------------
------------
Operating profit
1,206,652
1,896,354
Other interest receivable and similar income
3,290
Interest payable and similar expenses
1,211,255
674,204
------------
------------
(Loss)/profit before taxation
( 1,313)
1,222,150
Tax on (loss)/profit
233,934
-------
------------
(Loss)/profit for the financial year and total comprehensive income
( 1,313)
988,216
-------
------------
Dividends paid and payable
( 120,000)
( 120,000)
Retained earnings at the start of the year
1,409,894
541,678
------------
------------
Retained earnings at the end of the year
1,288,581
1,409,894
------------
------------
All the activities of the company are from continuing operations.
Blueberry Developments Estates Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
117
157
Investments
6
2
2
----
----
119
159
Current assets
Stocks
7
13,441,710
5,548,408
Debtors
8
3,883,173
2,427,914
Cash at bank and in hand
355,405
29,080
-------------
------------
17,680,288
8,005,402
Creditors: amounts falling due within one year
9
5,804,384
2,809,704
-------------
------------
Net current assets
11,875,904
5,195,698
-------------
------------
Total assets less current liabilities
11,876,023
5,195,857
Creditors: amounts falling due after more than one year
10
10,587,342
3,785,863
-------------
------------
Net assets
1,288,681
1,409,994
-------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,288,581
1,409,894
------------
------------
Shareholders funds
1,288,681
1,409,994
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Blueberry Developments Estates Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr M C Rigden
Director
Company registration number: 7269727
Blueberry Developments Estates Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Cliff Street, Ramsgate, Kent, CT11 9HS, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Finance costs
Interest is charged to the profit and loss account when incurred. Other finance costs are charged over the term of the debt.
Taxation
The Tax charge for the year comprises current and deferred tax.
Disclosure exemptions
(a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.
Current tax
The current tax charge is based on taxable profit for the year, using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax
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Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Turnover represents income receivable, excluding VAT, on the sale of development properties, the value of contracting activities, and consultancy and management services provided during the year.
Tangible assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value or each asset over its expected useful life, at an annual rate of 25% on a reducing balance basis.
Investments
Investments in subsidiary companies are measured at cost less any provision for impairment.
Stocks
Stocks of property developments are stated at the lower of cost and net realisable value. Cost includes the purchase and subsequent expenditure specifically attributable to a development property. Long term contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Interest on borrowings is charged to the profit and loss account when it is incurred.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 4 ).
5. Tangible assets
Equipment
£
Cost
At 1 September 2022 and 31 August 2023
2,385
-------
Depreciation
At 1 September 2022
2,228
Charge for the year
40
-------
At 31 August 2023
2,268
-------
Carrying amount
At 31 August 2023
117
-------
At 31 August 2022
157
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 September 2022 and 31 August 2023
2
----
Impairment
At 1 September 2022 and 31 August 2023
----
Carrying amount
At 31 August 2023
2
----
At 31 August 2022
2
----
7. Stocks
2023
2022
£
£
Work in progress
13,441,710
5,548,408
-------------
------------
2023 2022 £ £ Work in progress 13,441,710 5,548,408
8. Debtors
2023
2022
£
£
Trade debtors
19,138
Other debtors
3,864,035
2,427,914
------------
------------
3,883,173
2,427,914
------------
------------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
63,913
92,658
Corporation tax
233,934
317,666
Other loans
10,000
41,750
Loans (secured)
5,496,537
2,357,630
------------
------------
5,804,384
2,809,704
------------
------------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
10,587,342
3,785,863
-------------
------------