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Registered number: 04717852
Blue Scorpion Ltd
Financial Statements
For The Year Ended 31 March 2024
Aspirations Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04717852
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,409 588
Investments 5 1,125,992 1,125,992
1,127,401 1,126,580
CURRENT ASSETS
Stocks 6 2,288 3,432
Debtors 7 177,253 65,149
Cash at bank and in hand 21,138 8,795
200,679 77,376
Creditors: Amounts Falling Due Within One Year 8 (1,236,178 ) (1,188,720 )
NET CURRENT ASSETS (LIABILITIES) (1,035,499 ) (1,111,344 )
TOTAL ASSETS LESS CURRENT LIABILITIES 91,902 15,236
Creditors: Amounts Falling Due After More Than One Year 9 (697,976 ) (587,772 )
NET LIABILITIES (606,074 ) (572,536 )
CAPITAL AND RESERVES
Called up share capital 10 246,575 246,575
Share premium account 100,909 136,970
Capital redemption reserve 500 -
Profit and Loss Account (954,058 ) (956,081 )
SHAREHOLDERS' FUNDS (606,074) (572,536)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Nigel Tanner
Director
Mr Antony Kensington
Director
28/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Blue Scorpion Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04717852 . The registered office is The 1921 Building, East Malling Business Centre, New Road, East Malling, Kent, ME19 6BJ.
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. 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.
2.3. 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:
Computer Equipment Depreciation @25%, WDV method
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 1,234
Additions 1,291
As at 31 March 2024 2,525
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 646
Provided during the period 470
As at 31 March 2024 1,116
Net Book Value
As at 31 March 2024 1,409
As at 1 April 2023 588
5. Investments
Unlisted
£
Cost
As at 1 April 2023 1,125,992
As at 31 March 2024 1,125,992
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,125,992
As at 1 April 2023 1,125,992
6. Stocks
2024 2023
£ £
Finished goods 2,288 3,432
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 66,680 38,164
Amounts owed by participating interests 90,606 -
Other debtors 19,967 26,985
177,253 65,149
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 100,939 42,623
Bank loans and overdrafts 2,465 2,163
Other loans 41,601 81,609
Amounts owed to group undertakings 1,003,535 849,114
Other creditors 70,350 93,224
Taxation and social security 17,288 119,987
1,236,178 1,188,720
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 697,976 587,772
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 246,575 246,575
Page 5