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Registration number: 11216467

London Blackstone Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

London Blackstone Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

London Blackstone Developments Limited

Company Information

Director

Mr JW Blackman

Registered office

Flat 9 Allingham Court
26 Durham Avenue
Bromley
BR2 0QB

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

London Blackstone Developments Limited

(Registration number: 11216467)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

7,798

9,551

Current assets

 

Debtors

4

38,462

21,955

Cash at bank and in hand

 

1,086

5,761

 

39,548

27,716

Creditors: Amounts falling due within one year

5

(18,413)

(21,721)

Net current assets

 

21,135

5,995

Total assets less current liabilities

 

28,933

15,546

Creditors: Amounts falling due after more than one year

5

(15,265)

(16,406)

Provisions for liabilities

(256)

(320)

Net assets/(liabilities)

 

13,412

(1,180)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

13,411

(1,181)

Shareholders' funds/(deficit)

 

13,412

(1,180)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 April 2024
 

.........................................
Mr JW Blackman
Director

 

London Blackstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

London Blackstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Asset class

Depreciation method and rate

Office Equipment

- 25% Reducing balance

Motor Vehicles

- 25% Reducing balance

Plant & Machinery

- 25% Reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

London Blackstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

3,367

6,300

9,635

19,302

Additions

688

-

-

688

At 29 February 2024

4,055

6,300

9,635

19,990

Depreciation

At 1 March 2023

870

3,642

5,239

9,751

Charge for the year

677

665

1,099

2,441

At 29 February 2024

1,547

4,307

6,338

12,192

Carrying amount

At 29 February 2024

2,508

1,993

3,297

7,798

At 28 February 2023

2,497

2,658

4,396

9,551

4

Debtors

Current

2024
£

2023
£

Trade debtors

8,500

-

Prepayments

-

43

Other debtors

29,962

21,912

 

38,462

21,955

 

London Blackstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

7

3,090

3,613

Trade creditors

 

2,016

648

Taxation and social security

 

273

5,832

Accruals and deferred income

 

995

245

Other creditors

 

12,039

11,383

 

18,413

21,721

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

15,265

16,406

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

15,265

16,406

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,778

3,125

Other borrowings

312

488

3,090

3,613

 

London Blackstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr JW Blackman

Interest is charged on the loan and there is no fixed date of repayment.

(13,744)

(41,118)

56,124

1,262

         
       

 

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Mr JW Blackman

Interest is charged on the loan and there is no fixed date of repayment.

19,670

(33,414)

(13,744)