0 24 April 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,778,870 1,778,870 1,778,870 xbrli:pure xbrli:shares iso4217:GBP 10135505 2023-09-01 2024-08-31 10135505 2024-08-31 10135505 2023-08-31 10135505 2022-09-01 2023-08-31 10135505 2023-08-31 10135505 2022-08-31 10135505 bus:Director1 2023-09-01 2024-08-31 10135505 core:WithinOneYear 2024-08-31 10135505 core:WithinOneYear 2023-08-31 10135505 core:AfterOneYear 2024-08-31 10135505 core:AfterOneYear 2023-08-31 10135505 core:ShareCapital 2024-08-31 10135505 core:ShareCapital 2023-08-31 10135505 core:CapitalRedemptionReserve 2024-08-31 10135505 core:CapitalRedemptionReserve 2023-08-31 10135505 core:RetainedEarningsAccumulatedLosses 2024-08-31 10135505 core:RetainedEarningsAccumulatedLosses 2023-08-31 10135505 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 10135505 core:Non-currentFinancialInstruments 2024-08-31 10135505 core:Non-currentFinancialInstruments 2023-08-31 10135505 bus:SmallEntities 2023-09-01 2024-08-31 10135505 bus:Audited 2023-09-01 2024-08-31 10135505 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10135505 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10135505 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 10135505
Blue I Group Limited
Filleted Financial Statements
31 August 2024
Blue I Group Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
1,778,870
1,778,870
Current assets
Debtors
5
1,630,415
2,094,784
Cash at bank and in hand
101,514
181,186
------------
------------
1,731,929
2,275,970
Creditors: amounts falling due within one year
6
2,264,932
2,104,277
------------
------------
Net current (liabilities)/assets
( 533,003)
171,693
------------
------------
Total assets less current liabilities
1,245,867
1,950,563
Creditors: amounts falling due after more than one year
7
1,163,207
1,872,180
------------
------------
Net assets
82,660
78,383
------------
------------
Capital and reserves
Called up share capital
1,518
1,518
Capital redemption reserve
585
585
Profit and loss account
80,557
76,280
--------
--------
Shareholders funds
82,660
78,383
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Blue I Group Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 24 April 2025 , and are signed on behalf of the board by:
Mr L Bradshaw
Director
Company registration number: 10135505
Blue I Group Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8, Whitehall Cross, Leeds, LS12 5XE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings
£
Cost
At 1 September 2023 and 31 August 2024
1,778,870
------------
Impairment
At 1 September 2023 and 31 August 2024
------------
Carrying amount
At 31 August 2024
1,778,870
------------
At 31 August 2023
1,778,870
------------
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,621,549
2,086,299
Other debtors
8,866
8,485
------------
------------
1,630,415
2,094,784
------------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
828,721
735,648
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,407,092
1,337,380
Other creditors
29,119
31,249
------------
------------
2,264,932
2,104,277
------------
------------
The following liabilities disclosed under creditors falling due within one year are secured by the company:
2024
2023
£
£
Bank loans
828,721
735,648
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,163,207
1,878,000
Other creditors
( 5,820)
------------
------------
1,163,207
1,872,180
------------
------------
The following liabilities disclosed under creditors falling due after one year are secured by the company:
2024
2023
£
£
Bank loans
1,163,207
1,878,000
8. Summary audit opinion
The auditor's report dated 24 April 2025 was unqualified .
The senior statutory auditor was Andrew Wild FCA , for and on behalf of TLP Consulting Limited .
9. Directors' advances, credits and guarantees
The directors loan account remained in credit throughout the current year. There were no guarantees in the year.
10. Related party transactions
The company was under the control of the directors throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 (effective January 2015)
11. Controlling party
The company is a wholly-owned subsidiary of Blue i Holdings Limited.