Bluestone International Investments Limited |
Registered number: |
13348879 |
Balance Sheet |
as at 5 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
As restated |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,021,299 |
|
|
1,020,374 |
|
Current assets |
Debtors |
4 |
|
1,904 |
|
|
- |
Cash at bank and in hand |
|
|
6,679 |
|
|
13,029 |
|
|
|
8,583 |
|
|
13,029 |
|
Creditors: amounts falling due within one year |
5 |
|
(1,012,593) |
|
|
(1,031,132) |
|
Net current liabilities |
|
|
|
(1,004,010) |
|
|
(1,018,103) |
|
Total assets less current liabilities |
|
|
|
17,289 |
|
|
2,271 |
|
|
Provisions for liabilities |
|
|
|
(3,018) |
|
|
(3,018) |
|
|
Net assets/(liabilities) |
|
|
|
14,271 |
|
|
(747) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Fair value reserve |
6 |
|
|
9,053 |
|
|
9,053 |
Profit and loss account |
|
|
|
5,118 |
|
|
(9,900) |
|
Shareholder's funds |
|
|
|
14,271 |
|
|
(747) |
|
|
|
|
|
|
|
|
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 member has 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. |
|
|
|
|
Alasdair Gerrie |
Director |
Approved by the board on 20 December 2024 |
|
Bluestone International Investments Limited |
Notes to the Accounts |
for the year ended 5 April 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% reducing balance |
|
|
Investment property |
|
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
|
Cost |
£ |
£ |
£ |
|
At 6 April 2023 |
1,020,000 |
|
664 |
|
1,020,664 |
|
Additions |
- |
|
1,358 |
|
1,358 |
|
At 5 April 2024 |
1,020,000 |
|
2,022 |
|
1,022,022 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 6 April 2023 |
- |
|
290 |
|
290 |
|
Charge for the year |
- |
|
433 |
|
433 |
|
At 5 April 2024 |
- |
|
723 |
|
723 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 5 April 2024 |
1,020,000 |
|
1,299 |
|
1,021,299 |
|
At 5 April 2023 |
1,020,000 |
|
374 |
|
1,020,374 |
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
Corporation tax recoverable |
|
|
|
|
1,904 |
|
- |
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
As restated |
£ |
£ |
|
Trade creditors |
4,201 |
|
5,314 |
|
Taxation and social security costs |
- |
|
- |
|
Directors loan account |
1,003,098 |
|
1,025,098 |
|
Other creditors |
5,294 |
|
720 |
|
|
|
|
|
|
1,012,593 |
|
1,031,132 |
|
|
|
|
|
|
|
|
|
6 |
Fair value reserve |
2024 |
|
2023 |
|
The provision for liability of £3,018 relates to deferred corporation tax in relation to the fair value revaluation of investment property. |
£ |
£ |
|
At 6 April 2023 |
9,053 |
|
- |
|
Gain on revaluation of land and buildings |
- |
|
12,070 |
|
Deferred taxation arising on the revaluation of land and buildings |
- |
|
(3,018) |
|
|
At 5 April 2024 |
9,053 |
|
9,053 |
|
7 |
Loss Due to Fraud - Prior Year Adjustment |
|
The accounts have been restated to transfer £24,996 which was lost due to fraud, from the director's loan account to the profit and loss account. Corporation tax was reduced from £2,785 to Nil. The change has resulted in the net assets being reduced from £21,464, to show a loss of £747. |
|
8 |
Related party transactions |
|
As at the year end, £978,102 (2023: £1,000,102) was due to the director of the company. The loan is interest free and there are no set terms for repayment of this balance. |
|
9 |
Other information |
|
Bluestone International Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Bank Chambers |
|
1-3 Woodford Avenue |
|
Gants Hill, Ilford |
|
Essex, IG2 6UF |