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REGISTERED NUMBER: 08837763 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Bluegum Solutions Limited

Bluegum Solutions Limited (Registered number: 08837763)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bluegum Solutions Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R C Hoy
Mrs R Hoy





REGISTERED OFFICE: 156 Marlborough Road
Swindon
Wiltshire
SN3 1LU





REGISTERED NUMBER: 08837763 (England and Wales)

Bluegum Solutions Limited (Registered number: 08837763)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 87,780 79,800

CURRENT ASSETS
Debtors 6 1,307 -
Cash at bank 1,004 1,580
2,311 1,580
CREDITORS
Amounts falling due within one year 7 42,563 41,360
NET CURRENT LIABILITIES (40,252 ) (39,780 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,528

40,020

CREDITORS
Amounts falling due after more than one
year

8

59,705

60,725
NET LIABILITIES (12,177 ) (20,705 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (12,377 ) (20,905 )
SHAREHOLDERS' FUNDS (12,177 ) (20,705 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





R C Hoy - Director


Bluegum Solutions Limited (Registered number: 08837763)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Bluegum Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements are prepared on a going concern basis.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The Company has adopted Section 1A of FRS 102 in these financial statements.

Investment property
Investment properties for which fair value can be measured reliably are measured at fair value annually with changes recognised in the profit and loss account.

Financial instruments
Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Bluegum Solutions Limited (Registered number: 08837763)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current and deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.

Share capital
Ordinary shares are classified as equity.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Revenue recognition
Revenue consists of rental income in respect of the company's investment properties. Revenue is measured at the fair value of the consideration received or receivable on an accruals basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 79,800
Revaluations 7,980
At 31 January 2024 87,780
NET BOOK VALUE
At 31 January 2024 87,780
At 31 January 2023 79,800

Bluegum Solutions Limited (Registered number: 08837763)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2017 (3,309 )
Valuation in 2018 (2,870 )
Valuation in 2019 (1,017 )
Valuation in 2020 (4,000 )
Valuation in 2021 4,000
Valuation in 2023 (4,200 )
Valuation in 2024 7,980
Cost 91,196
87,780

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 91,196 91,196

Investment property was valued on an open market basis on 31 January 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 1,307 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 600 600
Directors' current accounts 39,903 39,242
Accruals and deferred income 2,060 1,518
42,563 41,360

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 59,705 60,725

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 59,705 60,725

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 59,705 60,725

Bank loans are secured by a fixed and floating charge over the assets of the company.