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Registered Number: 05334133
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2024

for

BLUETEQ LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Property, plant and equipment 3 1,524,757    1,538,358 
Financial assets 4 26,515    25,379 
1,551,272    1,563,737 
Current assets      
Stocks 5 2,141    3,198 
Trade and other receivables 6 316,559    188,318 
Cash and cash equivalents 2,438,418    2,060,751 
2,757,118    2,252,267 
Trade and other payables: amounts falling due within one year 7 (765,339)   (594,657)
Net current assets 1,991,779    1,657,610 
 
Total assets less current liabilities 3,543,051    3,221,347 
Provisions for liabilities 8 (26,909)   (36,745)
Net assets 3,516,142    3,184,602 
 

Capital and reserves
     
Called up share capital 9 2    2 
Retained earnings 3,516,140    3,184,600 
Shareholders' funds 3,516,142    3,184,602 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 February 2025 and were signed on its behalf by:


-------------------------------
Mr A McArdell
Director
1
General Information
Blueteq Limited is a private company, limited by shares, registered in England and Wales, registration number 05334133, registration address Claremont, Western Avenue, Emsworth, Hampshire, PO10 7LP.

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparing the financial statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets, 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 for goods supplied and services rendered, net of discounts and Value Added Tax.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover from software licences is recognised over the period of the licence.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period to which they relate.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. 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 assets and liabilities are not discounted.
Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment 25 Reducing Balance
Fixtures and Fittings 25 Reducing Balance
Land and Buildings 10 Straight Line
Motor Vehicles 25 Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation.

Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

2.

Average number of employees


Average number of employees during the year was 28 (2023 : 28).
3.

Property, plant and equipment

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2024 1,415,217    13,650    15,790    296,509    1,741,166 
Additions       53,340    53,340 
Disposals       (41,626)   (41,626)
At 31 December 2024 1,415,217    13,650    15,790    308,223    1,752,880 
Depreciation
At 01 January 2024 39,915    11,221    13,954    137,718    202,808 
Charge for year 7,025    607    459    42,486    50,577 
On disposals       (25,262)   (25,262)
At 31 December 2024 46,940    11,828    14,413    154,942    228,123 
Net book values
Closing balance as at 31 December 2024 1,368,277    1,822    1,377    153,281    1,524,757 
Opening balance as at 01 January 2024 1,375,302    2,429    1,836    158,791    1,538,358 


4.

Financial assets

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 25,379    25,379 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 1,136    1,136 
At 31 December 2024 26,515    26,515 

5.

Stocks

2024
£
  2023
£
Stocks 2,141    3,198 
2,141    3,198 

6.

Trade and other receivables

2024
£
  2023
£
Trade debtors 293,981    97,620 
Other debtors 22,578    90,698 
316,559    188,318 

7.

Trade and other payables: amounts falling due within one year

2024
£
  2023
£
Trade creditors 1,451    4,336 
Taxation & social security 278,966    148,622 
Other creditors 484,922    441,699 
765,339    594,657 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred tax 26,909    36,745 
26,909    36,745 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Ordinary shares of £1.00 each  
 

2