Registered number
05511014
Bluebell Trading UK Limited
Filleted Accounts
for the year ended 31 July 2024
Bluebell Trading UK Limited
Registered number: 05511014
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Property, plant and equipment 3 142,228 186,307
Investment property 4 135,000 114,542
277,228 300,849
Current assets
Stocks 394,250 263,102
Debtors 5 125,541 187,089
Cash at bank and in hand 147,537 182,452
667,328 632,643
Creditors: amounts falling due within one year 6 (295,170) (328,434)
Net current assets 372,158 304,209
Total assets less current liabilities 649,386 605,058
Creditors: amounts falling due after more than one year 7 - (5,860)
Provisions for liabilities (37,691) (46,577)
Net assets 611,695 552,621
Capital and reserves
Called up share capital 2 2
Profit and loss account 611,693 552,619
Shareholders' funds 611,695 552,621
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.
Alan Sykes
Director
Approved by the board on 1 October 2024
Bluebell Trading UK Limited
Notes to the Accounts
for the year ended 31 July 2024
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on reducing balance
Motor vehicles 25% on reducing balance
Investments
Investments in property are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 35 36
3 Property, plant and equipment
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2023 462,930 55,332 518,262
Additions 2,850 - 2,850
At 31 July 2024 465,780 55,332 521,112
Depreciation
At 1 August 2023 306,030 25,925 331,955
Charge for the year 39,575 7,354 46,929
At 31 July 2024 345,605 33,279 378,884
Net book value
At 31 July 2024 120,175 22,053 142,228
At 31 July 2023 156,900 29,407 186,307
4 Investments
Investment
property
£
Cost
At 1 August 2023 114,542
Revaluation 20,458
At 31 July 2024 135,000
Historical cost
At 1 August 2023 114,542
At 31 July 2024 114,542
At the date of the balance sheet, the investment property was revalued at its market value using current market data for similar properties in the area, and advice from local agents.
5 Debtors 2024 2023
£ £
Trade debtors 95,282 140,470
Other debtors 30,259 46,619
125,541 187,089
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 5,860 6,822
Trade creditors 134,426 162,481
Taxation and social security costs 114,341 107,192
Other creditors 40,543 51,939
295,170 328,434
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 5,860
8 Pension commitments
The company operates a defined contribution pension scheme. Contributions totalling Nil (2023 : £986) were payable to the scheme at the end of the period and are included in creditors.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 329,800 26,898
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Alan Sykes
Interest free loan account with no fixed terms for repayment, in credit at the reporting date. 23,808 (32,050) 21,900 13,658
Mrs Julie Sykes
Interest free loan account with no fixed terms for repayment, in credit at the reporting date. 23,501 (30,750) 20,450 13,201
47,309 (62,800) 42,350 26,859
11 Other information
Bluebell Trading UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bent Ley Mills
Huddersfield Road
Meltham
Holmfirth
HD9 4AP
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