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REGISTERED NUMBER: 05801996 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

BLUE CYPRUS DEVELOPMENTS LIMITED

BLUE CYPRUS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05801996)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLUE CYPRUS DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S Carle
M Lumbis
Ms S M Graves





SECRETARY: S Carle





REGISTERED OFFICE: First Floor
17 Blackfriars Lane
St Pauls
London
EC4V 6ER





REGISTERED NUMBER: 05801996 (England and Wales)





ACCOUNTANTS: Jamieson Stone LLP
Windsor House
40/41 Great Castle Street
London
W1W 8LU

BLUE CYPRUS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05801996)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 5 844,500 844,500
Debtors 6 71,000 71,000
Cash at bank 10,056 10,056
925,556 925,556
CREDITORS
Amounts falling due within one year 7 (1,272,066 ) (1,272,066 )
NET CURRENT LIABILITIES (346,510 ) (346,510 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(346,510

)

(346,510

)

CAPITAL AND RESERVES
Called up share capital 11,585 11,585
Retained earnings (358,095 ) (358,095 )
(346,510 ) (346,510 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:




M Lumbis - Director


BLUE CYPRUS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05801996)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Blue Cyprus Developments 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost

Work-in-progress
Work-in-progress is valued by the directors at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

BLUE CYPRUS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05801996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 June 2023
and 31 May 2024 3,277
DEPRECIATION
At 1 June 2023
and 31 May 2024 3,277
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. STOCKS
2024 2023
£    £   
Work-in-progress 844,500 844,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts due from group undertakings 61,000 61,000
Amounts due from associated
undertakings 10,000 10,000
71,000 71,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 42,125 42,125
Other creditors 817,029 817,029
Deposits held 67,366 67,366
Amounts due to associated
undertakings 344,746 344,746
Accruals and deferred income 800 800
1,272,066 1,272,066

8. GOING CONCERN

Included within creditors amounts falling due within one year are loans received from shareholders of this company amounting to £817,029 (2021: £817,029). The loans are interest free. The shareholders have agreed to defer repayment of the loans and to continue to provide ongoing financial support to the company.