Company Registration No. SC282644 (Scotland)
BLUETON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
BLUETON LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
BLUETON LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr M McMullen
Mrs L Sinclair
Secretary
Mrs L Sinclair
Company number
SC282644
Registered office
C/O Consilium Chartered Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
Scotland
G2 2LB
Business address
27 Winchester Avenue
Denny
Stirlingshire
Scotland
FK6 6QE
BLUETON LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
36,825
47,143
Current assets
Stocks
25,578
15,800
Debtors
4
317,913
325,327
Cash at bank and in hand
50,788
214,271
394,279
555,398
Creditors: amounts falling due within one year
5
(231,467)
(352,031)
Net current assets
162,812
203,367
Total assets less current liabilities
199,637
250,510
Creditors: amounts falling due after more than one year
6
(37,620)
(85,428)
Provisions for liabilities
8
(8,119)
(10,524)
Government grants
10
(3,216)
(5,053)
Net assets
150,682
149,505
Capital and reserves
Called up share capital
11
100
100
Profit and loss reserves
150,582
149,405
Total equity
150,682
149,505

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

BLUETON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 4 November 2024 and are signed on its behalf by:
Mr M McMullen
Mrs L Sinclair
Director
Director
Company Registration No. SC282644
BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Blueton Limited is a private company limited by shares incorporated in Scotland. The company's registered number is SC282644. The registered office is C/O Consilium Chartered Accountants, 169 West George Street, Glasgow, United Kingdom, G2 2LB. The principal place of business is 27 Winchester Avenue, Denny, Stirlingshire, Scotland, FK6 6QE.

1.1
Accounting convention

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.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

1.3
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Plant and equipment
25% reducing balance
Computers
20% straight line
Motor vehicles
25% 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 the profit and loss account.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit and loss account. Reversals of impairment losses are also recognised in the profit and loss account.

Work in progress

Work in progress is valued on the basis of direct material and labour costs plus attributable overheads based on a normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the value of work in progress.

1.6
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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value, and are depreciated in accordance with the above depreciation policies.

 

Future instalments payable under such agreements, net of finance charges, are included within creditors. Rentals payable are apportioned between the capital element, which reduces the outstanding obligation included within creditors, and the finance element, which is charged to the profit and loss account on a straight line basis.

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
11
13
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
25,416
12,825
12,949
49,839
101,029
Additions
-
0
2,347
2,108
-
0
4,455
At 30 April 2024
25,416
15,172
15,057
49,839
105,484
Depreciation and impairment
At 1 May 2023
22,734
3,363
5,722
22,067
53,886
Depreciation charged in the year
2,087
2,916
2,827
6,943
14,773
At 30 April 2024
24,821
6,279
8,549
29,010
68,659
Carrying amount
At 30 April 2024
595
8,893
6,508
20,829
36,825
At 30 April 2023
2,682
9,462
7,227
27,772
47,143
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
278,610
319,348
Amounts owed by group undertakings
33,147
-
0
Other debtors
6,156
5,979
317,913
325,327
BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
73,038
57,663
Amounts owed to group undertakings
-
0
68,095
Taxation and social security
91,278
153,152
Other creditors
67,151
73,121
231,467
352,031

Included within other creditors are amounts totalling £5,787 (2023 - £5,787) relating to hire purchase contracts which are secured over the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
37,620
85,428

Included within other creditors are amounts totalling £965 (2023 - £6,752) relating to hire purchase contracts which are secured over the assets to which they relate.

7
Loans and overdrafts
2024
2023
£
£
Other loans
78,677
118,652
Payable within one year
42,022
39,976
Payable after one year
36,655
78,676

A floating charge exists in favour of the company's bankers over the assets of the company.

8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9
8,119
10,524
BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
9
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2024
2023
Balances:
£
£
Accelerated capital allowances
7,315
9,261
Deferred capital grants
804
1,263
8,119
10,524
2024
Movements in the year:
£
Liability at 1 May 2023
10,524
Credit to profit or loss
(2,405)
Liability at 30 April 2024
8,119
10
Government grants
2024
2023
£
£
Deferred capital grant
3,216
5,053
11
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1
100
100
12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
180,849
220,968
BLUETON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 10 -
13
Related party transactions

The company has taken advantage of the 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 other companies within the group.

 

During the year the company obtained services from Blueton Design Studio Limited, a company with common directors, totalling £30,000 (2023 - £5,959). The amounts outstanding as at 30 April 2024 was £nil (2023 - £5,959).

 

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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