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REGISTERED NUMBER: 14299329 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

BLUES PROPERTY LETTINGS LIMITED

BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLUES PROPERTY LETTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: I Purkiss





REGISTERED OFFICE: 98c Hartington Grove
Cambridge
Cambridgeshire
CB1 7UB





REGISTERED NUMBER: 14299329 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 11,772 10,800
Investment property 6 710,000 653,190
721,772 663,990

CURRENT ASSETS
Debtors 7 5,938 3,302
Cash at bank 26,011 14,127
31,949 17,429
CREDITORS
Amounts falling due within one year 8 (200,632 ) (179,462 )
NET CURRENT LIABILITIES (168,683 ) (162,033 )
TOTAL ASSETS LESS CURRENT LIABILITIES 553,089 501,957

CREDITORS
Amounts falling due after more than one
year

9

(494,962

)

(494,940

)

PROVISIONS FOR LIABILITIES 11 (11,397 ) -
NET ASSETS 46,730 7,017

CAPITAL AND RESERVES
Called up share capital 12 100 100
Fair value reserve 13 42,230 -
Retained earnings 4,400 6,917
SHAREHOLDERS' FUNDS 46,730 7,017

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)

BALANCE SHEET - continued
31 AUGUST 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 May 2025 and were signed by:





I Purkiss - Director


BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Blues Property Lettings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

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 etc - 20% on cost

Investment property
Investment property is held at market value.

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)

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

3. 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 13,500
Additions 3,688
At 31 August 2024 17,188
DEPRECIATION
At 1 September 2023 2,700
Charge for year 2,716
At 31 August 2024 5,416
NET BOOK VALUE
At 31 August 2024 11,772
At 31 August 2023 10,800

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 653,190
Additions 503
Revaluations 56,307
At 31 August 2024 710,000
NET BOOK VALUE
At 31 August 2024 710,000
At 31 August 2023 653,190

BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 56,307
Cost 653,693
710,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 653,693 653,190

Investment property was valued on an open market basis on 31 August 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,938 3,302

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,673 24
Amounts owed to group undertakings 178,688 178,688
Other creditors 2,271 750
200,632 179,462

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 494,962 494,940

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 494,962 494,940

The mortgage in other creditors is secured by a fixed and floating charge over the property in development.

BLUES PROPERTY LETTINGS LIMITED (REGISTERED NUMBER: 14299329)

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

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 11,397 -

Deferred
tax
£   
Provided during year 11,397
Balance at 31 August 2024 11,397

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Fair
value
reserve
£   
Movement 42,230

At 31 August 2024 42,230