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Registration number: 03932829

Blue Bag Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Blue Bag Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Blue Bag Limited

Company Information

Directors

M G Boobyer

G Shneerson

Company secretary

M G Boobyer

Registered office

The Garage, Manor Farm
Church Lane, Chilcompton
Radstock
Somerset
BA3 HP

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Blue Bag Limited

(Registration number: 03932829)
Balance Sheet
30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,423

4,984

Current assets

 

Debtors

5

40,876

15,762

Cash at bank and in hand

 

78,889

170,368

 

119,765

186,130

Creditors: Amounts falling due within one year

6

(39,240)

(62,779)

Net current assets

 

80,525

123,351

Total assets less current liabilities

 

85,948

128,335

Provisions for liabilities

(985)

(1,176)

Net assets

 

84,963

127,159

Capital and reserves

 

Called up share capital

903

903

Retained earnings

84,060

126,256

Shareholders' funds

 

84,963

127,159

 

Blue Bag Limited

(Registration number: 03932829)
Balance Sheet
30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 April 2025 and signed on its behalf by:
 

.........................................
M G Boobyer
Company secretary and director

.........................................
G Shneerson
Director

 

Blue Bag Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Garage, Manor Farm
Church Lane, Chilcompton
Radstock
Somerset
BA3 HP

These financial statements were authorised for issue by the Board on 30 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax,

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Blue Bag Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Tax

The tax expense for the period comprises current and deferred tax and isrecognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and office equipment

25% per annum reducing balance

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Blue Bag Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2023

24,993

24,993

Additions

2,923

2,923

At 30 September 2024

27,916

27,916

Depreciation

At 1 October 2023

20,009

20,009

Charge for the year

2,484

2,484

At 30 September 2024

22,493

22,493

Carrying amount

At 30 September 2024

5,423

5,423

At 30 September 2023

4,984

4,984

5

Debtors

 

Blue Bag Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2024

2024
£

2023
£

Trade debtors

40,876

15,762

40,876

15,762

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,029

1,942

Taxation and social security

13,326

35,972

Accruals and deferred income

1,500

2,480

Other creditors

22,385

22,385

39,240

62,779