Registered number
08760363
Blue House Properties (North East) Limited
Filleted Accounts
30 November 2023
Blue House Properties (North East) Limited
Registered number: 08760363
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 270,000 270,000
Current assets
Cash at bank and in hand 23,785 13,941
Creditors: amounts falling due within one year 4 (111,100) (120,901)
Net current liabilities (87,315) (106,960)
Total assets less current liabilities 182,685 163,040
Creditors: amounts falling due after more than one year 5 (112,537) (113,990)
Provisions for liabilities (1,059) (1,059)
Net assets 69,089 47,991
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 4,236 4,236
Profit and loss account 64,851 43,753
Shareholders' funds 69,089 47,991
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.
S L Sanderson
Director
Approved by the board on 14 October 2024
Blue House Properties (North East) Limited
Notes to the Accounts
for the year ended 30 November 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. 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
The directors are of the opinion that the buildings are maintained in such a condition that residual value will be in excess of cost. Consequently depreciation is not provided on land and buildings.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments 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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 270,000
At 30 November 2023 270,000
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 270,000
At 30 November 2022 270,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 264,705 264,705
Cumulative depreciation based on historical cost - -
264,705 264,705
Residential properties were valued by Bradley Hall, Chartered Surveyors in November 2020 at a value of £265,000. The directors reviewed the valuation as at 30 November 2023 and are of the opinion that the valuations are not materially changed from those already included in the accounts.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,950 2,480
Taxation and social security costs 6,365 1,416
Other creditors 102,785 117,005
111,100 120,901
Included in Other creditors is £102,285 (2022 - £107,179) due to Suzanne Louise Sanderson, Director. The loan is interest free and has no fixed date for repayment.
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 112,537 113,990
6 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 101,665 106,016
Secured bank loans 114,488 116,470
The bank loan is secured on residential properties owned by the company.
7 Revaluation reserve 2023 2022
£ £
At 1 December 2022 4,236 4,236
At 30 November 2023 4,236 4,236
8 Related party transactions
During the year, the company received income of £18,762 (2023: £12,570) from STR Enterprises Limited, A company of which S L Sanderson is an employee and C S Sanderson is a director and shareholder. All transactions were undertaken on an arms length basis.
9 Controlling party
The company is controlled by its directors.
10 Other information
Blue House Properties (North East) Limited is a private company limited by shares and incorporated in England. Its registered office is:
30 The Oval
Benton
Newcastle upon Tyne
NE12 9PP
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