Registered number
13920700
Bluestar Developments Ltd
Filleted Accounts
29 February 2024
Bluestar Developments Ltd
Registered number: 13920700
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 585,000 585,000
Current assets
Debtors 4 155,500 5,141
Cash at bank and in hand 3,149 144,951
158,649 150,092
Creditors: amounts falling due within one year 5 (206,454) (201,216)
Net current liabilities (47,805) (51,124)
Total assets less current liabilities 537,195 533,876
Creditors: amounts falling due after more than one year 6 (418,968) (418,968)
Provisions for liabilities (28,242) (28,242)
Net assets 89,985 86,666
Capital and reserves
Called up share capital 1 1
Other reserve 8 120,403 120,403
Profit and loss account (30,419) (33,738)
Shareholders' funds 89,985 86,666
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Blau
Director
Approved by the board on 24 November 2024
Bluestar Developments Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 as the amount of tax payable using 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 timing differences.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Investment property
Land and buildings
£
Cost
At 1 March 2023 585,000
At 29 February 2024 585,000
Depreciation
At 29 February 2024 -
Net book value
At 29 February 2024 585,000
At 28 February 2023 585,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
4 Debtors 2024 2023
£ £
Trade debtors 3,607 3,910
Other debtors 151,893 1,231
155,500 5,141
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,750 1,750
Other creditors 204,704 199,466
206,454 201,216
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 418,968 418,968
The bank loan is secured by way of a legal charge over the investment property of the company.
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 418,968 418,968
8 Revaluation reserve 2024 2023
£ £
At 1 March 2023 120,403 -
At 29 February 2024 120,403 -
9 Other information
Bluestar Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
32 Clifton Gardens
London
N15 6AP
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