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REGISTERED NUMBER: 13950099 (England and Wales)



















BLACKSMITH MEWS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BLACKSMITH MEWS LTD (REGISTERED NUMBER: 13950099)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


BLACKSMITH MEWS LTD (REGISTERED NUMBER: 13950099)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 120,000
Investment property 5 120,000 -
120,000 120,000

CURRENT ASSETS
Debtors 6 100 100
Cash at bank 617 1,435
717 1,535
CREDITORS
Amounts falling due within one year 7 124,850 124,820
NET CURRENT LIABILITIES (124,133 ) (123,285 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,133

)

(3,285

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,233 ) (3,385 )
SHAREHOLDERS' FUNDS (4,133 ) (3,285 )

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

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

The director acknowledges his 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.

BLACKSMITH MEWS LTD (REGISTERED NUMBER: 13950099)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





Mr T D Briercliffe - Director


BLACKSMITH MEWS LTD (REGISTERED NUMBER: 13950099)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Blacksmith Mews Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13950099

Registered office: 49-51 Bancroft
Hitchin
SG5 1LL

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


2. ACCOUNTING POLICIES

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

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BLACKSMITH MEWS LTD (REGISTERED NUMBER: 13950099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2023 120,000
Reclassification/transfer (120,000 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 120,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 120,000
At 31 March 2024 120,000
NET BOOK VALUE
At 31 March 2024 120,000

BLACKSMITH MEWS LTD (REGISTERED NUMBER: 13950099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Cost 120,000

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

2024 2023
£    £   
Cost 120,000 -

Investment property was valued on an open market basis on 31 March 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 100 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 420
Other creditors 124,850 124,400
124,850 124,820

8. RELATED PARTY DISCLOSURES

Gauge & Compass Ltd
A company in which Mr T Briercliffe is the sole director.

At the balance sheet date, the amount owed to the related party was £124,400 (2023 - £124,400).

9. ULTIMATE PARENT PARTY

From 17 January 2024, the ultimate parent company of Blacksmith Mews Ltd is Gemstone Ltd which was incorporated in England and Wales.

For the period 2 March 2022 to 17 January 2024, the ultimate parent company of Blacksmith Mews Ltd was Gauge & Compass Ltd which was incorporated in England and Wales.

The registered office of the ultimate parent company is the same as that of Blacksmith Mews Ltd as shown on the Company Information page.

The parent company, Gemstone Ltd, has not prepared group accounts as it is exempted from the requirement to do so by Section 398 of the Companies Act 2006. The company meets the qualifying conditions for a small sized group as laid down in section 398 of the Act.