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REGISTERED NUMBER: 06821017 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BLUECHIP BRAND SOLUTIONS LIMITED

BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLUECHIP BRAND SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: C M Lynn





SECRETARY: W Lynn





REGISTERED OFFICE: 27 - 29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 06821017 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 650 975
Tangible assets 5 15,032 20,097
15,682 21,072

CURRENT ASSETS
Stocks - 6,811
Debtors 6 90,244 257,103
Cash at bank 24,196 34,383
114,440 298,297
CREDITORS
Amounts falling due within one year 7 97,248 219,032
NET CURRENT ASSETS 17,192 79,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,874

100,337

CREDITORS
Amounts falling due after more than one
year

8

(29,416

)

(36,969

)

PROVISIONS FOR LIABILITIES (2,900 ) (3,800 )
NET ASSETS 558 59,568

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 557 59,567
SHAREHOLDERS' FUNDS 558 59,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 27 November 2024 and were signed by:





C M Lynn - Director


BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Bluechip Brand Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The director believes that the company is well placed to manage its financial risks successfully and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Goodwill and intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, was being amortised evenly over its estimated useful life of twenty years.

The company has taken advantage of the transitional provisions included in FRS102 not to apply 'Business Combinations and Goodwill' retrospectively, to any 'Business Combinations' that occurred prior to 1 January 2015.

As a result of the requirements of FRS102, the company has amended its accounting policy to amortise the goodwill over 10 years from the date of transition.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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 the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 5,000
AMORTISATION
At 1 March 2023 4,025
Charge for year 325
At 29 February 2024 4,350
NET BOOK VALUE
At 29 February 2024 650
At 28 February 2023 975

BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2023 13,634 23,200 36,834
Additions 650 - 650
Disposals (2,517 ) - (2,517 )
At 29 February 2024 11,767 23,200 34,967
DEPRECIATION
At 1 March 2023 7,312 9,425 16,737
Charge for year 1,716 3,444 5,160
Eliminated on disposal (1,962 ) - (1,962 )
At 29 February 2024 7,066 12,869 19,935
NET BOOK VALUE
At 29 February 2024 4,701 10,331 15,032
At 28 February 2023 6,322 13,775 20,097

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 23,200
DEPRECIATION
At 1 March 2023 9,425
Charge for year 3,444
At 29 February 2024 12,869
NET BOOK VALUE
At 29 February 2024 10,331
At 28 February 2023 13,775

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 37,152 212,594
Other debtors 53,092 44,509
90,244 257,103

BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 20,272 9,771
Hire purchase contracts (see note 9) 5,380 5,072
Trade creditors 30,384 151,771
Taxation and social security 25,986 35,474
Other creditors 15,226 16,944
97,248 219,032

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 28,488 30,661
Hire purchase contracts (see note 9) 928 6,308
29,416 36,969

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,449 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 5,380 5,072
Between one and five years 928 6,308
6,308 11,380

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 6,308 11,380

BLUECHIP BRAND SOLUTIONS LIMITED (REGISTERED NUMBER: 06821017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
C M Lynn
Balance outstanding at start of year 40,829 3,517
Amounts advanced 72,635 76,193
Amounts repaid (69,489 ) (38,881 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,975 40,829

The above loan was charged interest on balances over £10,000 at a rate of 2% until 5 April 2023 and 2.25% thereafter.