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REGISTERED NUMBER: 08202269 (England and Wales)










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: A M Anderson-Dixon
D A R Hawkins





REGISTERED OFFICE: Systems House
Unit 10 -11 Raleigh Court
Priestley Way
Crawley
West Sussex
RH10 9PD





REGISTERED NUMBER: 08202269 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
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 - 1,074
Investment property 5 - 645,000
- 646,074

CURRENT ASSETS
Debtors 6 608 78,228
Cash at bank 265,348 3,514
265,956 81,742
CREDITORS
Amounts falling due within one year 7 (265,756 ) (16,181 )
NET CURRENT ASSETS 200 65,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

200

711,635

CREDITORS
Amounts falling due after more than one year 8 - (35,596 )

PROVISIONS FOR LIABILITIES 9 - (56,009 )
NET ASSETS 200 620,030

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 10 - 619,830
200 620,030

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

Blue Monkey Properties Ltd (Registered number: 08202269)

Balance Sheet - continued
31 May 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 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 23 October 2024 and were signed on its behalf by:




D A R Hawkins - Director



A M Anderson-Dixon - Director


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 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 (£).


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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 10,000
Disposals (10,000 )
At 31 May 2024 -
DEPRECIATION
At 1 April 2023 8,926
Eliminated on disposal (8,926 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 March 2023 1,074

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 645,000
Disposals (645,000 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 March 2023 645,000

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 - 78,228
Other debtors 608 -
608 78,228

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 - 5,929
Taxation and social security 44,780 8,072
Other creditors 220,976 2,180
265,756 16,181

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 - 35,596

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 56,009

Deferred
tax
£   
Balance at 1 April 2023 56,009
Provided during period (56,009 )
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.