Registered number
12094527
BLUE M DIAMOND PROPERTIES LTD
Filleted Accounts
31 December 2023
BLUE M DIAMOND PROPERTIES LTD
Registered number: 12094527
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 929,114 698,457
Current assets
Debtors 4 - 3,500
Cash at bank and in hand 11,531 258,046
11,531 261,546
Creditors: amounts falling due within one year 5 (39,795) (14,833)
Net current (liabilities)/assets (28,264) 246,713
Total assets less current liabilities 900,850 945,170
Creditors: amounts falling due after more than one year 6 (901,182) (948,649)
Net liabilities (332) (3,479)
Capital and reserves
Called up share capital 100 100
Profit and loss account (432) (3,579)
Shareholders' funds (332) (3,479)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss Neelakshi Dutta
Director
Approved by the board on 19 September 2024
BLUE M DIAMOND PROPERTIES LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 0
3 Investment properties
Land and buildings
£
Cost
At 1 January 2023 698,457
Additions 230,657
At 31 December 2023 929,114
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 929,114
At 31 December 2022 698,457
Freehold land and buildings: 2023 2022
£ £
Historical cost 929,114 698,457
Cumulative depreciation based on historical cost - -
929,114 698,457
The investment properties were measured for fair value by the directors, and in their opinion the
fair value of the investment property is fairly stated.
4 Debtors 2023 2022
£ £
Other debtors - 3,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,515 8,339
Other creditors 17,280 6,494
39,795 14,833
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 524,582 544,049
Shareholders loan 376,600 404,600
901,182 948,649
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 500,865 500,865
Secured bank loans 500,865 500,865
The bank loan is secured by first charge over the freehold land and building held by the company.
8 Controlling party
The company is under the control of its director Miss N Dutta.
9 Other information
BLUE M DIAMOND PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
65 Delamere Road
Hayes
UB4 0NN
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