Silverfin false false 31/10/2024 01/08/2023 31/10/2024 C A Cornell 13/07/2017 L C Cornell 07/09/2020 22 April 2025 The principal activity of the Company during the financial year was developing building projects. 10864221 2024-10-31 10864221 bus:Director1 2024-10-31 10864221 bus:Director2 2024-10-31 10864221 core:CurrentFinancialInstruments 2024-10-31 10864221 core:CurrentFinancialInstruments 2023-07-31 10864221 2023-07-31 10864221 core:ShareCapital 2024-10-31 10864221 core:ShareCapital 2023-07-31 10864221 core:RetainedEarningsAccumulatedLosses 2024-10-31 10864221 core:RetainedEarningsAccumulatedLosses 2023-07-31 10864221 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-10-31 10864221 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-07-31 10864221 bus:OrdinaryShareClass1 2024-10-31 10864221 2023-08-01 2024-10-31 10864221 bus:FilletedAccounts 2023-08-01 2024-10-31 10864221 bus:SmallEntities 2023-08-01 2024-10-31 10864221 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-10-31 10864221 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-10-31 10864221 bus:Director1 2023-08-01 2024-10-31 10864221 bus:Director2 2023-08-01 2024-10-31 10864221 2022-08-01 2023-07-31 10864221 bus:OrdinaryShareClass1 2023-08-01 2024-10-31 10864221 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10864221 (England and Wales)

BLUE LAGOON DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial period from 01 August 2023 to 31 October 2024
Pages for filing with the registrar

BLUE LAGOON DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial period from 01 August 2023 to 31 October 2024

Contents

BLUE LAGOON DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 October 2024
BLUE LAGOON DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 31.10.2024 31.07.2023
£ £
Current assets
Debtors 3 134,659 2,640
Cash at bank and in hand 0 1
134,659 2,641
Creditors: amounts falling due within one year 4 ( 134,511) ( 110,818)
Net current assets/(liabilities) 148 (108,177)
Total assets less current liabilities 148 (108,177)
Net assets/(liabilities) 148 ( 108,177)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 48 ( 108,277 )
Total shareholders' funds/(deficit) 148 ( 108,177)

For the financial period ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Blue Lagoon Developments Limited (registered number: 10864221) were approved and authorised for issue by the Board of Directors on 22 April 2025. They were signed on its behalf by:

C A Cornell
Director
BLUE LAGOON DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 31 October 2024
BLUE LAGOON DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 31 October 2024
1. Accounting policies

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

General information and basis of accounting

Blue Lagoon Developments 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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, 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 £.

Going concern

In 2024 the directors made the decision that the Company would cease trading and that the residual trading activities be transferred to certain fellow group companies. The transfer was finalised in October 2024. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The reporting period length has been extended to the 31st October 2024 due to the company ceasing trading at the end of this period.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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

Period from
01.08.2023 to
31.10.2024
Year ended
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Debtors

31.10.2024 31.07.2023
£ £
Amounts owed by related parties 131,463 0
Other debtors 3,196 2,640
134,659 2,640

4. Creditors: amounts falling due within one year

31.10.2024 31.07.2023
£ £
Amounts owed to related parties 0 57,587
Taxation and social security 22,359 0
Other creditors 112,152 53,231
134,511 110,818

5. Called-up share capital

31.10.2024 31.07.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100