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REGISTERED NUMBER: 03493991 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

BLUESTORM LIMITED

BLUESTORM LIMITED (REGISTERED NUMBER: 03493991)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


BLUESTORM LIMITED (REGISTERED NUMBER: 03493991)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 597,943 598,689

CURRENT ASSETS
Debtors 5 1,646 1,429
Cash at bank 261,127 231,608
262,773 233,037
CREDITORS
Amounts falling due within one year 6 7,458 3,239
NET CURRENT ASSETS 255,315 229,798
TOTAL ASSETS LESS CURRENT
LIABILITIES

853,258

828,487

PROVISIONS FOR LIABILITIES 96,000 96,304
NET ASSETS 757,258 732,183

CAPITAL AND RESERVES
Called up share capital 67 67
Fair value reserve 408,525 408,221
Retained earnings 348,666 323,895
757,258 732,183

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 23rd April 2025 and were signed on its behalf by:





A S Clapham - Director


BLUESTORM LIMITED (REGISTERED NUMBER: 03493991)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Bluestorm Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03493991

Registered office: 15 West Street
Brighton
East Sussex
BN1 2RL

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the ground rents receivable for the year. The company also receives rental income from the former caretakers' flat and income from laundry and tours.

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The value of the freehold property is assessed in three distinct ways. For flats held on long leases, these are valued at the capitalisation of ground rents receivable in perpetuity at a capitalisation rate of 6%. For the flats with short leases, the values are assessed both in terms of the capitalisation of ground rents receivable, as per above, in addition to the reversionary and marriage values as calculated by a Chartered Surveyor and Valuer. Finally the other units held by the entity including the office spaces and penthouse flat are valued on an open-market basis.

No depreciation is charged on the freehold property due to this being held at valuation rather than cost which is revised on a regular basis.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.


BLUESTORM LIMITED (REGISTERED NUMBER: 03493991)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Going concern
After reviewing the company's forecasts, the directors believe that the company has adequate resources to continue in operational existence and therefore the company continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st January 2024
and 31st December 2024 595,703 1,865 10,716 608,284
DEPRECIATION
At 1st January 2024 - 1,533 8,062 9,595
Charge for year - 83 663 746
At 31st December 2024 - 1,616 8,725 10,341
NET BOOK VALUE
At 31st December 2024 595,703 249 1,991 597,943
At 31st December 2023 595,703 332 2,654 598,689

Cost or valuation at 31st December 2024 is represented by:

Freehold Plant and Office
property machinery equipment Totals
£    £    £    £   
Valuation in 2024 595,703 1,865 10,716 608,284

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Service charge debtor 1,646 1,429

BLUESTORM LIMITED (REGISTERED NUMBER: 03493991)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 3,864 -
Other creditors 354 -
Accruals and deferred income 3,240 3,239
7,458 3,239

7. CONTINGENT LIABILITIES

The company has a contingent liability to the lessees of Embassy Court for the cost of maintenance and upkeep of the property which in turn is funded by the lessees.