46 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 114,000 114,000 114,000 xbrli:pure xbrli:shares iso4217:GBP NI056315 2023-11-01 2024-10-31 NI056315 2024-10-31 NI056315 2023-10-31 NI056315 2022-11-01 2023-10-31 NI056315 2023-10-31 NI056315 2022-10-31 NI056315 core:NetGoodwill 2023-11-01 2024-10-31 NI056315 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 NI056315 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 NI056315 core:PlantMachinery 2023-11-01 2024-10-31 NI056315 core:FurnitureFittings 2023-11-01 2024-10-31 NI056315 core:MotorVehicles 2023-11-01 2024-10-31 NI056315 bus:Director1 2023-11-01 2024-10-31 NI056315 core:NetGoodwill 2023-10-31 NI056315 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 NI056315 core:NetGoodwill 2024-10-31 NI056315 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-10-31 NI056315 core:LandBuildings 2023-10-31 NI056315 core:PlantMachinery 2023-10-31 NI056315 core:FurnitureFittingsToolsEquipment 2023-10-31 NI056315 core:MotorVehicles 2023-10-31 NI056315 core:LandBuildings 2024-10-31 NI056315 core:PlantMachinery 2024-10-31 NI056315 core:FurnitureFittingsToolsEquipment 2024-10-31 NI056315 core:MotorVehicles 2024-10-31 NI056315 core:LandBuildings 2023-11-01 2024-10-31 NI056315 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI056315 core:WithinOneYear 2024-10-31 NI056315 core:WithinOneYear 2023-10-31 NI056315 core:AfterOneYear 2024-10-31 NI056315 core:AfterOneYear 2023-10-31 NI056315 core:ShareCapital 2024-10-31 NI056315 core:ShareCapital 2023-10-31 NI056315 core:RetainedEarningsAccumulatedLosses 2024-10-31 NI056315 core:RetainedEarningsAccumulatedLosses 2023-10-31 NI056315 core:NetGoodwill 2023-10-31 NI056315 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 NI056315 core:CostValuation core:Non-currentFinancialInstruments 2023-10-31 NI056315 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-10-31 NI056315 core:Non-currentFinancialInstruments 2023-10-31 NI056315 core:LandBuildings 2023-10-31 NI056315 core:PlantMachinery 2023-10-31 NI056315 core:FurnitureFittingsToolsEquipment 2023-10-31 NI056315 core:MotorVehicles 2023-10-31 NI056315 bus:Director1 2023-10-31 NI056315 bus:Director1 2024-10-31 NI056315 bus:Director1 2022-10-31 NI056315 bus:Director1 2023-10-31 NI056315 bus:Director1 2022-11-01 2023-10-31 NI056315 bus:SmallEntities 2023-11-01 2024-10-31 NI056315 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 NI056315 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI056315 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI056315 bus:FullAccounts 2023-11-01 2024-10-31 NI056315 core:InvestmentPropertyIncludedWithinPPE 2023-11-01 2024-10-31 NI056315 core:OfficeEquipment 2023-11-01 2024-10-31 NI056315 core:InvestmentPropertyIncludedWithinPPE 2023-10-31 NI056315 core:InvestmentPropertyIncludedWithinPPE 2024-10-31 NI056315 core:AfterOneYear 2023-11-01 2024-10-31 NI056315 1 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: NI056315
Bluebell Developments Limited
Filleted Unaudited Financial Statements
31 October 2024
Bluebell Developments Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
45,000
90,000
Tangible assets
6
758,429
689,339
Investments
7
114,000
---------
---------
803,429
893,339
Current assets
Stocks
34,674
31,040
Debtors
8
468,271
506,680
Cash at bank and in hand
370,725
212,404
---------
---------
873,670
750,124
Creditors: amounts falling due within one year
9
339,268
374,040
---------
---------
Net current assets
534,402
376,084
------------
------------
Total assets less current liabilities
1,337,831
1,269,423
Creditors: amounts falling due after more than one year
10
167,050
178,926
Provisions
Taxation including deferred tax
37,083
34,466
------------
------------
Net assets
1,133,698
1,056,031
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,133,697
1,056,030
------------
------------
Shareholders funds
1,133,698
1,056,031
------------
------------
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.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bluebell Developments Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 14 April 2025 , and are signed on behalf of the board by:
Mr W J Creighton
Director
Company registration number: NI056315
Bluebell Developments Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 17-18 Joymount, Carrickfergus, Co. Antrim, BT38 7DN.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
Licence
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Investment Property Investment property is property held by the company to earn rentals or for capital appreciation, or both. Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. Fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm's length transaction.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
10% straight line
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Office Equipment
-
25% reducing balance
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 46 (2023: 49 ).
5. Intangible assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
800,000
100,000
900,000
---------
---------
---------
Amortisation
At 1 November 2023
720,000
90,000
810,000
Charge for the year
40,000
5,000
45,000
---------
---------
---------
At 31 October 2024
760,000
95,000
855,000
---------
---------
---------
Carrying amount
At 31 October 2024
40,000
5,000
45,000
---------
---------
---------
At 31 October 2023
80,000
10,000
90,000
---------
---------
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Investment property
Total
£
£
£
£
£
£
Cost
At 1 Nov 2023
770,220
444,277
456,086
1,924
307,962
1,980,469
Additions
151,575
59,913
211,488
Transfers
217,962
( 217,962)
------------
---------
---------
-------
---------
------------
At 31 Oct 2024
1,139,757
444,277
515,999
1,924
90,000
2,191,957
------------
---------
---------
-------
---------
------------
Depreciation
At 1 Nov 2023
526,705
400,962
362,148
1,315
1,291,130
Charge for the year
92,954
10,828
38,463
153
142,398
------------
---------
---------
-------
---------
------------
At 31 Oct 2024
619,659
411,790
400,611
1,468
1,433,528
------------
---------
---------
-------
---------
------------
Carrying amount
At 31 Oct 2024
520,098
32,487
115,388
456
90,000
758,429
------------
---------
---------
-------
---------
------------
At 31 Oct 2023
243,515
43,315
93,938
609
307,962
689,339
------------
---------
---------
-------
---------
------------
No change to fair value of investment properties held at the year end .
7. Investments
Shares in group undertakings
£
Cost
At 1 November 2023
114,000
Disposals
( 114,000)
---------
At 31 October 2024
---------
Impairment
At 1 November 2023 and 31 October 2024
---------
Carrying amount
At 31 October 2024
---------
At 31 October 2023
114,000
---------
8. Debtors
2024
2023
£
£
Other debtors
468,271
506,680
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,158
16,264
Trade creditors
89,006
63,076
Corporation tax
113,197
178,610
Social security and other taxes
109,677
100,475
Other creditors
13,230
15,615
---------
---------
339,268
374,040
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
167,050
178,926
---------
---------
The above liabilities are secured by assets held by the company .
11. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr W J Creighton
333,179
108,246
( 115,324)
326,101
---------
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr W J Creighton
( 2)
645,270
( 312,089)
333,179
----
---------
---------
---------
12. Related party transactions
During the prior year Bluebell Developments Ltd bought 100% of the shares in OPLE Ltd, a company in which Mr W J Creighton is the director. This company was dissolved during the 2024 financial year and the remaining balance owed between the companies was written off to the profit and loss account £18,666.
13. Controlling party
The company was under the control of Mr W J Creighton throughout the current and previous year. Mr Creighton is the managing director and 100% shareholder.