Company registration number 14375435 (England and Wales)
BLUE GOWER 2 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BLUE GOWER 2 LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
BLUE GOWER 2 LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr N Singleton
Mr R Parkin-Mason
Mr A Mannion
Mr J Barnden
Company number
14375435
Registered office
37 Commercial Road
Poole
Dorset
BH14 0HU
Accountants
Azets
37 Commercial Road
Poole
Dorset
BH14 0HU
BLUE GOWER 2 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
473,706
225,406
Debtors
3
631
-
0
474,337
225,406
Creditors: amounts falling due within one year
4
(357,205)
(226,806)
Net current assets/(liabilities)
117,132
(1,400)
Creditors: amounts falling due after more than one year
5
(145,750)
-
0
Net liabilities
(28,618)
(1,400)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(28,718)
(1,500)
Total equity
(28,618)
(1,400)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
Mr J Barnden
Director
Company Registration No. 14375435
BLUE GOWER 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Blue Gower 2 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 37 Commercial Road, Poole, Dorset, BH14 0HU.

1.1
Reporting period

Prior year period was 16 months long and therefore current year figures are not comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BLUE GOWER 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

These financial statements for the year ended 31 December 2024 are the first financial statements of Blue Gower 2 Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 26 September 2022. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

BLUE GOWER 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
631
-
0
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
352,355
225,306
Other creditors
4,850
1,500
357,205
226,806
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
145,750
-
0

The long-term loan is secured by fixed charges over the property.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
BLUE GOWER 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Related party transactions

Gower Capital Limited

(Indirect parent company)

During the period a total of £100,719 (2023: £125,407) was advanced from Gower Capital Limited and £59,624 (2023: £26,763) was repaid in respect of the loan.

 

At the balance sheet date the amount due to Gower Capital Limited was £139,738 (2023: £98,644).

 

N1CO Limited

(Parent company)

During the period a total of £nil (2023: £50,000) was advanced from N1CO Limited and £nil (2023: £50) was repaid in respect of the loan.

 

At the balance sheet date the amount due to N1CO Limited was £49,950 (2023: £49,950).

 

Bluecroft Limited

(Parent company)

During the period a total of £51,000 (2023: £38,381) was advanced from Bluecroft Limited and £nil (2023: £25) was repaid in respect of the loan.

 

At the balance sheet date the amount due to Bluecroft Limited was £89,356 (2023: £38,356).

 

IPE Harley Limited

(Parent company)

During the period a total of £34,954 (2023: £38,381) was advanced from IPE Harley Limited and £nil (2023: £25) was repaid in respect of the loan.

 

At the balance sheet date the amount due to IPE Harley Limited was £73,310 (2023: £38,356).

2024-12-312024-01-01falsefalsefalseCCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr N SingletonMr R Parkin-MasonMr A MannionMr J Barnden143754352024-01-012024-12-3114375435bus:Director12024-01-012024-12-3114375435bus:Director22024-01-012024-12-3114375435bus:Director32024-01-012024-12-3114375435bus:Director42024-01-012024-12-3114375435bus:RegisteredOffice2024-01-012024-12-31143754352024-12-31143754352023-12-3114375435core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3114375435core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114375435core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3114375435core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3114375435core:CurrentFinancialInstruments2024-12-3114375435core:CurrentFinancialInstruments2023-12-3114375435core:ShareCapital2024-12-3114375435core:ShareCapital2023-12-3114375435core:RetainedEarningsAccumulatedLosses2024-12-3114375435core:RetainedEarningsAccumulatedLosses2023-12-31143754352022-09-262023-12-3114375435core:WithinOneYear2024-12-3114375435core:WithinOneYear2023-12-3114375435core:Non-currentFinancialInstruments2024-12-3114375435core:Non-currentFinancialInstruments2023-12-3114375435bus:PrivateLimitedCompanyLtd2024-01-012024-12-3114375435bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3114375435bus:FRS1022024-01-012024-12-3114375435bus:AuditExemptWithAccountantsReport2024-01-012024-12-3114375435bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP