REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
BLUES PROPERTY WARKWORTH LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
BLUES PROPERTY WARKWORTH LIMITED |
BLUES PROPERTY WARKWORTH LIMITED (REGISTERED NUMBER: 14060763) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BLUES PROPERTY WARKWORTH LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
BLUES PROPERTY WARKWORTH LIMITED (REGISTERED NUMBER: 14060763) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BLUES PROPERTY WARKWORTH LIMITED (REGISTERED NUMBER: 14060763) |
BALANCE SHEET - continued |
30 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BLUES PROPERTY WARKWORTH LIMITED (REGISTERED NUMBER: 14060763) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Blues Property Warkworth Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. |
Stock comprises land and development properties, work in progress, and completed properties held for sale. |
Land and development properties include properties acquired for development and resale, with cost comprising the purchase price, directly attributable acquisition costs, development costs incurred to date, and borrowing costs where applicable. |
Work in progress includes properties under construction, with cost including construction costs, direct labour, attributable overheads, and borrowing costs directly attributable to the construction of the asset. |
Completed properties held for sale include properties completed but unsold at the year-end, which are stated at the lower of cost and net realisable value. |
Borrowing costs that are directly attributable to the acquisition, construction, or production of qualifying assets are capitalised as part of the cost of those assets. Capitalisation of borrowing costs commences when expenditure on the asset and borrowing costs are being incurred, and activities necessary to prepare the asset for its intended use or sale are in progress. Capitalisation ceases when substantially all the activities necessary to prepare the asset for its intended use or sale are complete. All other borrowing costs are recognised as an expense in the period in which they are incurred. |
Net realisable value is based on the estimated selling price in the ordinary course of business less further costs expected to complete and sell the property. The carrying amount of stock is reviewed at each reporting date for indications of impairment. If such indications exist, an impairment loss is recognised in the profit and loss account. |
Financial instruments |
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
BLUES PROPERTY WARKWORTH LIMITED (REGISTERED NUMBER: 14060763) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loan | 2,286,200 | 1,657,037 |
The bank loan in other creditors is secured by a fixed and floating charge over the property in development. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordianry A | £1 | 850 | 850 |
Ordinary B | £1 | 100 | 100 |
Ordinary C | £1 | 50 | 50 |
1,000 | 1,000 |