Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07534114 Mr BABAR ARSHAD iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07534114 2023-02-28 07534114 2024-02-29 07534114 2023-03-01 2024-02-29 07534114 frs-core:CurrentFinancialInstruments 2024-02-29 07534114 frs-core:Non-currentFinancialInstruments 2024-02-29 07534114 frs-core:ComputerEquipment 2024-02-29 07534114 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07534114 frs-core:ComputerEquipment 2023-02-28 07534114 frs-core:FurnitureFittings 2024-02-29 07534114 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07534114 frs-core:FurnitureFittings 2023-02-28 07534114 frs-core:NetGoodwill 2024-02-29 07534114 frs-core:NetGoodwill 2023-03-01 2024-02-29 07534114 frs-core:NetGoodwill 2023-02-28 07534114 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 07534114 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07534114 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 07534114 frs-core:MotorVehicles 2024-02-29 07534114 frs-core:MotorVehicles 2023-03-01 2024-02-29 07534114 frs-core:MotorVehicles 2023-02-28 07534114 frs-core:PlantMachinery 2023-03-01 2024-02-29 07534114 frs-core:ShareCapital 2024-02-29 07534114 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07534114 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07534114 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07534114 frs-bus:SmallEntities 2023-03-01 2024-02-29 07534114 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07534114 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07534114 frs-core:UnlistedNon-exchangeTraded 2024-02-29 07534114 frs-core:UnlistedNon-exchangeTraded 2023-02-28 07534114 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 07534114 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 07534114 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 07534114 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 07534114 frs-bus:Director1 2023-03-01 2024-02-29 07534114 frs-core:CurrentFinancialInstruments 1 2024-02-29 07534114 frs-core:CurrentFinancialInstruments 3 2024-02-29 07534114 frs-countries:EnglandWales 2023-03-01 2024-02-29 07534114 2022-02-28 07534114 2023-02-28 07534114 2022-03-01 2023-02-28 07534114 frs-core:CurrentFinancialInstruments 2023-02-28 07534114 frs-core:Non-currentFinancialInstruments 2023-02-28 07534114 frs-core:ShareCapital 2023-02-28 07534114 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 07534114 frs-core:CurrentFinancialInstruments 1 2023-02-28 07534114 frs-core:CurrentFinancialInstruments 3 2023-02-28
Registered number: 07534114
BLUE HOUSE RETAIL LIMITED
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07534114
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 219,891 -
Tangible Assets 5 144,680 149,054
Investment Properties 6 1,731,591 1,555,000
Investments 7 794,569 794,569
2,890,731 2,498,623
CURRENT ASSETS
Stocks 8 96,932 74,497
Debtors 9 796,748 928,948
Cash at bank and in hand 4,258 14,106
897,938 1,017,551
Creditors: Amounts Falling Due Within One Year 10 (1,336,918 ) (1,044,503 )
NET CURRENT ASSETS (LIABILITIES) (438,980 ) (26,952 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,451,751 2,471,671
Creditors: Amounts Falling Due After More Than One Year 11 (2,054,444 ) (2,060,720 )
NET ASSETS 397,307 410,951
CAPITAL AND RESERVES
Called up share capital 12 1 1
Profit and Loss Account 397,306 410,950
SHAREHOLDERS' FUNDS 397,307 410,951
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Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr BABAR ARSHAD
Director
22/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BLUE HOUSE RETAIL LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07534114 . The registered office is THE SMITHY, ROWAN AVENUE, WASHINGTON, TYNE AND WEAR, NE38 9BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10%
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 15%
2.6. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss
account.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 32 28
32 28
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 8,421
Additions 219,891
As at 29 February 2024 228,312
Amortisation
As at 1 March 2023 8,421
As at 29 February 2024 8,421
Net Book Value
As at 29 February 2024 219,891
As at 1 March 2023 -
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5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 82,000 9,425 175,314 3,368 270,107
Additions - - 5,776 - 5,776
As at 29 February 2024 82,000 9,425 181,090 3,368 275,883
Depreciation
As at 1 March 2023 - 8,509 109,953 2,591 121,053
Provided during the period - 229 9,804 117 10,150
As at 29 February 2024 - 8,738 119,757 2,708 131,203
Net Book Value
As at 29 February 2024 82,000 687 61,333 660 144,680
As at 1 March 2023 82,000 916 65,361 777 149,054
6. Investment Property
2024
£
Fair Value
As at 1 March 2023 1,555,000
Additions 176,591
As at 29 February 2024 1,731,591
7. Investments
Unlisted
£
Cost
As at 1 March 2023 794,569
As at 29 February 2024 794,569
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 794,569
As at 1 March 2023 794,569
On 01 December 2015 the entire share capital of MJ & A Taylor Limited was acquired by Blue House Retail Limited for £794,520.
On 16 November 2018, 49 percent of the share capital of Espresso Park Ltd was acquired by Blue House Retail Limited for £49.These investments are currently held at cost.
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8. Stocks
2024 2023
£ £
Materials 96,932 74,497
9. Debtors
2024 2023
£ £
Due within one year
Trade debtors 484,281 422,750
Other debtors 123,872 170,359
VAT Debtor 67,230 23,685
Other debtors - Espresso Park Limited 34,444 42,360
Deferred tax current asset 86,921 86,921
Director's loan account - 182,873
796,748 928,948
Included in Debtors is an amount of £34,444 (2023:£42,360) due from an associate, Espresso Park Ltd.
10. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 453,509 349,076
Bank loans and overdrafts 279,752 128,670
Corporation tax - 42,320
Other taxes and social security 9,547 11,724
Other creditors 367,255 228,354
Other creditors - MJ & A Taylor Limited 181,107 265,868
Accruals and deferred income 25,502 18,491
Director's loan account 20,246 -
1,336,918 1,044,503
The bank loan and overdrafts are secured by fixed and floating charges overs the company’s assets.
Included in creditors is an amount of £181,107 (2023: £265,868) due to a subsidiary, MJ and A Taylor Limited.
11. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,054,444 2,060,720
The bank loans are secured by fixed and floating charges over the company’s assets.
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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