Blue Grey Ltd |
Registered number: |
13427676 |
Balance Sheet |
as at 31 May 2024 |
|
Notes |
|
|
2024 |
|
£ |
|
Fixed assets |
Investments |
3 |
|
|
225,100 |
|
Current assets |
Cash at bank and in hand |
|
|
246 |
|
Creditors: amounts falling due within one year |
4 |
|
(71,003) |
|
Net current liabilities |
|
|
|
(70,757) |
|
|
Total assets less current liabilities |
|
|
|
154,343 |
|
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(106,021) |
|
|
|
Net assets |
|
|
|
48,322 |
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
Revaluation reserve |
7 |
|
|
55,390 |
Profit and loss account |
|
|
|
(7,168) |
|
Shareholders' funds |
|
|
|
48,322 |
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
|
|
|
|
Jeremy Hastings |
Director |
Approved by the board on 12 September 2024 |
|
Blue Grey Ltd |
Notes to the Accounts |
for the year ended 31 May 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). |
|
|
Investments |
|
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
Number |
|
|
|
Average number of persons employed by the company |
2 |
|
|
|
|
|
|
|
|
|
3 |
Investments |
Investments in |
subsidiary |
Investment |
undertakings |
properties |
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2023 |
100 |
|
179,110 |
|
179,210 |
|
Revaluation |
- |
|
45,890 |
|
45,890 |
|
|
At 31 May 2024 |
100 |
|
225,000 |
|
225,100 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 June 2023 |
100 |
|
179,110 |
|
At 31 May 2024 |
100 |
|
179,110 |
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
£ |
|
|
|
Bank loans and overdrafts |
3,500 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
52,943 |
|
Taxation and social security costs |
547 |
|
Other creditors |
14,013 |
|
|
|
|
|
|
71,003 |
|
|
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2024 |
|
£ |
|
|
|
Bank loans |
105,727 |
|
Other creditors |
294 |
|
|
|
|
|
|
106,021 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans |
2024 |
|
£ |
|
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
109,728 |
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
109,728 |
|
|
|
|
|
|
|
|
|
The loan is secured by a fixed security upon Unit 6D Treburley Industrial Estate, Treburley, Cornwall PL15 9PU. |
|
7 |
Revaluation reserve |
2024 |
|
£ |
|
|
|
Gain on revaluation of land and buildings |
45,890 |
|
Deferred taxation arising on the revaluation of land and buildings |
9,500 |
|
|
At 31 May 2024 |
55,390 |
|
|
|
|
|
|
|
|
|
|
8 |
Related party transactions |
|
Blue Grey Ltd is the ultimate holding company of Slate Sphere Ltd and owns the freehold factory occupied by Slate Sphere Ltd. At the balance sheet date Blue Grey Ltd owed the Slate Sphere Ltd £52,943 (2023 - £63,876). |
|
|
|
9 |
Controlling party |
|
Jeremy Hastings and Victoria Hastings, as Directors and Shareholders, are the ultimate controlling party of the company. |
|
|
|
# |
Other information |
|
|
Blue Grey Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
31 Bluebell Way |
|
Laurceston |
|
Cornwall |
|
PL15 9JU |