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Company No: 12924230 (England and Wales)

MANDARIN BLUE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

MANDARIN BLUE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

MANDARIN BLUE LIMITED

BALANCE SHEET

As at 31 December 2024
MANDARIN BLUE LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 7,000,200 7,000,200
7,000,200 7,000,200
Current assets
Debtors 4 446,276 477,826
Cash at bank and in hand 201 17
446,477 477,843
Net current assets 446,477 477,843
Total assets less current liabilities 7,446,677 7,478,043
Net assets 7,446,677 7,478,043
Capital and reserves
Called-up share capital 5 4,175,202 4,175,202
Capital redemption reserve 2,825,000 2,825,000
Profit and loss account 446,475 477,841
Total shareholders' funds 7,446,677 7,478,043

For the financial year ending 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Mandarin Blue Limited (registered number: 12924230) were approved and authorised for issue by the Board of Directors on 07 April 2025. They were signed on its behalf by:

Mr E V Egan
Director
MANDARIN BLUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
MANDARIN BLUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mandarin Blue Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Station Road, Totnes, Devon, TQ9 5JR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

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. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 7,000,200
At 31 December 2024 7,000,200
Carrying value at 31 December 2024 7,000,200
Carrying value at 31 December 2023 7,000,200

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2024
Ownership
31.12.2023
China Blue (Devon) Limited Station Road, Totnes, Devon, TQ9 5JR Retail of gifts, ceramics and home accessories Ordinary 100.00% 100.00%
Devon Ceramics (Contracts) Limited Station Road, Totnes, Devon, TQ9 5JR Manufacture and wholesale of ceramic products Ordinary 100.00% 100.00%

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 446,276 477,826

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
1 Ordinary C share of £ 1.00 1 1
1 Ordinary D share of £ 1.00 1 1
202 202
500,000 Non-redeemable Preference shares of £ 1.00 each 500,000 500,000
3,675,000 Redeemable Preference shares of £ 1.00 each 3,675,000 3,675,000
4,175,000 4,175,000
4,175,202 4,175,202

Both the redeemable and non-redeemable preference shares are non-voting and carry a fixed cumulative dividend of 0.1% per annum.