IRIS Accounts Production v24.3.0.553 SC311745 director 1.12.22 30.11.23 30.11.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3117452022-11-30SC3117452023-11-30SC3117452022-12-012023-11-30SC3117452021-11-30SC3117452021-12-012022-11-30SC3117452022-11-30SC311745ns15:Scotland2022-12-012023-11-30SC311745ns14:PoundSterling2022-12-012023-11-30SC311745ns10:Director12022-12-012023-11-30SC311745ns10:PrivateLimitedCompanyLtd2022-12-012023-11-30SC311745ns10:SmallEntities2022-12-012023-11-30SC311745ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-30SC311745ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-30SC311745ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-30SC311745ns10:FullAccounts2022-12-012023-11-30SC31174512022-12-012023-11-30SC311745ns10:RegisteredOffice2022-12-012023-11-30SC311745ns5:CurrentFinancialInstruments2023-11-30SC311745ns5:CurrentFinancialInstruments2022-11-30SC311745ns5:Non-currentFinancialInstruments2023-11-30SC311745ns5:Non-currentFinancialInstruments2022-11-30SC311745ns5:ShareCapital2023-11-30SC311745ns5:ShareCapital2022-11-30SC311745ns5:FurtherSpecificReserve3ComponentTotalEquity2023-11-30SC311745ns5:FurtherSpecificReserve3ComponentTotalEquity2022-11-30SC311745ns5:RetainedEarningsAccumulatedLosses2023-11-30SC311745ns5:RetainedEarningsAccumulatedLosses2022-11-30SC311745ns5:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30SC311745ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-012023-11-30SC311745ns5:LandBuildingsns5:OwnedOrFreeholdAssets2022-12-012023-11-30SC311745ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-012023-11-30SC311745ns5:PlantMachinery2022-12-012023-11-30SC311745ns5:FurnitureFittings2022-12-012023-11-30SC311745ns5:MotorVehicles2022-12-012023-11-30SC311745ns5:IntangibleAssetsOtherThanGoodwill2022-11-30SC311745ns5:IntangibleAssetsOtherThanGoodwill2023-11-30SC311745ns5:IntangibleAssetsOtherThanGoodwill2022-11-30SC311745ns5:LandBuildings2022-11-30SC311745ns5:LongLeaseholdAssetsns5:LandBuildings2022-11-30SC311745ns5:PlantMachinery2022-11-30SC311745ns5:LandBuildings2022-12-012023-11-30SC311745ns5:LandBuildings2023-11-30SC311745ns5:LongLeaseholdAssetsns5:LandBuildings2023-11-30SC311745ns5:PlantMachinery2023-11-30SC311745ns5:LandBuildings2022-11-30SC311745ns5:LongLeaseholdAssetsns5:LandBuildings2022-11-30SC311745ns5:PlantMachinery2022-11-30SC311745ns5:FurnitureFittings2022-11-30SC311745ns5:MotorVehicles2022-11-30SC311745ns5:FurnitureFittings2023-11-30SC311745ns5:MotorVehicles2023-11-30SC311745ns5:FurnitureFittings2022-11-30SC311745ns5:MotorVehicles2022-11-30SC311745ns5:UnlistedNon-exchangeTradedns5:CostValuation2022-11-30SC311745ns5:UnlistedNon-exchangeTraded2023-11-30SC311745ns5:UnlistedNon-exchangeTraded2022-11-30SC311745ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30SC311745ns5:WithinOneYearns5:CurrentFinancialInstruments2022-11-30SC311745ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-11-30SC311745ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2022-11-30SC311745ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-11-30SC311745ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-11-30SC311745ns5:DeferredTaxation2022-11-30SC311745ns5:DeferredTaxation2023-11-30
REGISTERED NUMBER: SC311745 (Scotland)











BLUEVALE STRUCTURES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 11


BLUEVALE STRUCTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: Harold Wylie



REGISTERED OFFICE: 39-51 Bluevale Street
Glasgow
Lanarkshire
G31 1QQ



REGISTERED NUMBER: SC311745 (Scotland)



BANKERS: Royal Bank of Scotland plc
1304 Duke Street
Glasgow
G31 5PZ

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,089,531 1,120,034
Investments 6 50,000 50,000
1,139,531 1,170,034

CURRENT ASSETS
Stocks 7 204,292 188,222
Debtors 8 1,164,210 1,173,615
Cash at bank 473 69,729
1,368,975 1,431,566
CREDITORS
Amounts falling due within one year 9 560,419 578,007
NET CURRENT ASSETS 808,556 853,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,948,087

2,023,593

CREDITORS
Amounts falling due after more than one
year

10

(30,471

)

(25,798

)

PROVISIONS FOR LIABILITIES 11 (135,856 ) (112,432 )
NET ASSETS 1,781,760 1,885,363

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 694,274 694,274
Retained earnings 1,087,485 1,191,088
SHAREHOLDERS' FUNDS 1,781,760 1,885,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 director and authorised for issue on 6 November 2024 and were signed by:





Harold Wylie - Director


BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Bluevale Structures Ltd is a private company, limited by shares, registered in Scotland. The company's registered number is SC311745 and registered office address is 39-51 Bluevale Street, Glasgow G31 1QQ.

The nature of the Company's operations and its principal activity was that of the installation of scaffolding.

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.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant - not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Research and development
Expenditure on research activities is recognised in the income statement as an expense as incurred.

Expenditure on development activities is capitalised if the product or process is technically and commercially feasible and the Company intends to and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities improve a plan or design for the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs. Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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 as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 50,000
AMORTISATION
At 1 December 2022
and 30 November 2023 50,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property Plant machinery
£    £    £   
COST OR VALUATION
At 1 December 2022 221,240 804,678 535,927
Additions - - 495
Disposals - - (58,710 )
At 30 November 2023 221,240 804,678 477,712
DEPRECIATION
At 1 December 2022 - - 458,153
Charge for year - - 13,722
Eliminated on disposal - - (49,025 )
At 30 November 2023 - - 422,850
NET BOOK VALUE
At 30 November 2023 221,240 804,678 54,862
At 30 November 2022 221,240 804,678 77,774

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 10,459 97,017 1,669,321
Additions - - 495
Disposals - (18,995 ) (77,705 )
At 30 November 2023 10,459 78,022 1,592,111
DEPRECIATION
At 1 December 2022 5,992 85,142 549,287
Charge for year 676 1,657 16,055
Eliminated on disposal - (13,737 ) (62,762 )
At 30 November 2023 6,668 73,062 502,580
NET BOOK VALUE
At 30 November 2023 3,791 4,960 1,089,531
At 30 November 2022 4,467 11,875 1,120,034

Cost or valuation at 30 November 2023 is represented by:

Freehold Plant and
property Plant machinery
£    £    £   
Valuation in 2021 110,000 189,373 -
Cost 111,240 615,305 477,712
221,240 804,678 477,712

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2021 - - 299,373
Cost 10,459 78,022 1,292,738
10,459 78,022 1,592,111

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 December 2022
and 30 November 2023 50,000
NET BOOK VALUE
At 30 November 2023 50,000
At 30 November 2022 50,000

7. STOCKS
2023 2022
£    £   
Stocks 204,292 188,222

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 139,208 161,660
Other debtors 238,375 206,672
Directors' current accounts 587,560 606,216
Tax 199,067 199,067
1,164,210 1,173,615

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,429 9,872
Trade creditors 67,265 41,323
Social security and other taxes 285,826 314,861
Accrued expenses 171,899 211,951
560,419 578,007

BLUEVALE STRUCTURES LIMITED (REGISTERED NUMBER: SC311745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 25,184 10,128
Bank loans - 2-5 years 5,287 15,670
30,471 25,798

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 135,856 112,432

Deferred
tax
£   
Balance at 1 December 2022 112,432
Originating and reversal of 61,032
timing differences
Effect of changes in tax rates (37,608 )
Balance at 30 November 2023 135,856

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director benefited from an interest free loan from the company. The balance at 30th November 2023 was £587,560 (2022 - £606,216).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Harold Wylie.