Company registration number 05932353 (England and Wales)
BLUE DOG PROPERTIES (UK) LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BLUE DOG PROPERTIES (UK) LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
BLUE DOG PROPERTIES (UK) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 DECEMBER 2023
30 December 2023
- 1 -
30 December 2023
31 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
106,033
26,641
Investment property
5
3,045,000
3,454,138
3,151,033
3,480,779
Current assets
Stocks
1,335,000
1,332,524
Debtors
27,850
26,608
Cash at bank and in hand
2,268
13,754
1,365,118
1,372,886
Creditors: amounts falling due within one year
(2,725,805)
(2,610,041)
Net current liabilities
(1,360,687)
(1,237,155)
Total assets less current liabilities
1,790,346
2,243,624
Creditors: amounts falling due after more than one year
(1,149,156)
(1,449,772)
Provisions for liabilities
(145,700)
(152,934)
Net assets
495,490
640,918
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
495,390
640,818
Total equity
495,490
640,918
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial Period ended 30 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BLUE DOG PROPERTIES (UK) LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 DECEMBER 2023
30 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 20 September 2024
Mr D C Beswick
Director
Company registration number 05932353 (England and Wales)
BLUE DOG PROPERTIES (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Blue Dog Properties (UK) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 43, The Cobalt Building, 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% per straight line method
Computers
25% per straight line method
Motor vehicles
25% per straight line method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
BLUE DOG PROPERTIES (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
BLUE DOG PROPERTIES (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2023
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
46,105
466
48,578
95,149
Additions
1,116
2,488
124,079
127,683
Disposals
(48,578)
(48,578)
At 30 December 2023
47,221
2,954
124,079
174,254
Depreciation and impairment
At 1 January 2023
35,064
272
33,174
68,510
Depreciation charged in the Period
4,992
233
27,660
32,885
Eliminated in respect of disposals
(33,174)
(33,174)
At 30 December 2023
40,056
505
27,660
68,221
Carrying amount
At 30 December 2023
7,165
2,449
96,419
106,033
At 31 December 2022
11,041
195
15,405
26,641
BLUE DOG PROPERTIES (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2023
- 6 -
5
Investment property
2023
£
Fair value
At 1 January 2023
3,454,138
Disposals
(400,000)
Revaluations
(9,138)
At 30 December 2023
3,045,000
Investment property comprises various properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 December 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Directors' transactions
Description
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr D C Beswick
(2,575,782)
(107,779)
(2,683,561)
(2,575,782)
(107,779)
(2,683,561)