REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 May 2024 |
for |
Blue Monkey Properties Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 May 2024 |
for |
Blue Monkey Properties Ltd |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Blue Monkey Properties Ltd |
Company Information |
for the Period 1 April 2023 to 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Airport House |
Suite 43-45 |
Purley Way |
Croydon |
CR0 0XZ |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 10 |
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. |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Balance Sheet - continued |
31 May 2024 |
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 |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 31 May 2024 |
1. | STATUTORY INFORMATION |
Blue Monkey Properties Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company continued to be that of a rental property company. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
TURNOVER |
Turnover represents rent receivable on commercial properties net of VAT. |
TANGIBLE FIXED ASSETS |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Fixtures and fittings 20% on reducing balance |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
INVESTMENT PROPERTY |
Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income. |
FINANCIAL INSTRUMENTS |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
TAXATION |
The tax expense represents the sum of the tax currently payable and deferred tax. |
CURRENT TAX |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
PROVISIONS FOR LIABILITIES |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
Provisions are charged as an expense to the Statement of income and retained earning in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Balance sheet. |
REPORTING PERIOD |
The entity has extended the year end by 2 months to 31 May 2024 as entity has ceased its trading activity further and therefore the comparative amounts presented in the financial statements are not entirely comparable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 April 2023 |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 March 2023 |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 May 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 March 2023 |
Investment Property comprises two properties. The Fair value of the investment properties have been arrived at by the Directors based on open market value. |
Fair value at 31 May 2024 is represented by: |
£ |
Valuation in 2015 | 109,942 |
Valuation in 2017 | 79,000 |
Valuation in 2019 | 141,000 |
Valuation in 2024 | (645,000 | ) |
Cost | 315,058 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by associates |
Other debtors |
The director considers the carrying value of trade and other receivables approximate to their fair value. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
The directors consider the carrying amounts of current liabilities approximate to their fair values. |
Blue Monkey Properties Ltd (Registered number: 08202269) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 May 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | - | 56,009 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during period | ( |
) |
Balance at 31 May 2024 |
10. | RESERVES |
PROFIT AND LOSS RESERVES |
Retained earnings consist of fair value adjustments and deferred tax in relation to investment properties. |
At the balance sheet date the reserves therefore comprise of the following: |
Distributable reserves of Nil (2023 - £345,693). |
Non Distributable reserves of Nil (2023 - £274,137) (consisting of fair value adjustments in relation to investment properties less the corresponding deferred tax calculated on the fair value). |
11. | RELATED PARTY DISCLOSURES |
Included in amounts owed by associates at the balance sheet date is a loan of Nil (2023 - £78,228) due from Vistec Systems Ltd, a company in which A Anderson-Dixon and D Hawkins are both directors and shareholders. |
Also included in other creditors at the balance sheet date are amounts due to the directors A Anderson - Dixon and D Hawkins of £218,039 (2023 - £600).This loan is interest free and repayable on demand. |