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Registration number: 12057901

Blonde & Grey Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Blonde & Grey Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 16

 

Blonde & Grey Limited

Company Information

Directors

Mr Timothy Guy Brocklebank

Mrs Hazel Brocklebank

Registered office

Waterside Court Falmouth Road
Penryn
Cornwall
TR10 8AW

Accountants

GW&Co. Ltd
Chartered Certified AccountantsWaterside Court
Falmouth Road
Penryn
United Kingdom
TR10 8AW

 

Blonde & Grey Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Timothy Guy Brocklebank

Mrs Hazel Brocklebank

Principal activity

The principal activity of the company is hotel

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

.........................................
Mr Timothy Guy Brocklebank
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Blonde & Grey Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blonde & Grey Limited for the year ended 31 December 2024 as set out on pages 4 to 16 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Blonde & Grey Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blonde & Grey Limited and state those matters that we have agreed to state to the Board of Directors of Blonde & Grey Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blonde & Grey Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Blonde & Grey Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blonde & Grey Limited. You consider that Blonde & Grey Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Blonde & Grey Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

GW&Co. Ltd
Chartered Certified Accountants
Waterside Court
Falmouth Road
Penryn
United Kingdom
TR10 8AW

17 June 2025

 

Blonde & Grey Limited

Profit and Loss Account for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

673,534

563,069

Cost of sales

 

(224,499)

(200,107)

Gross profit

 

449,035

362,962

Administrative expenses

 

(331,525)

(1,631,233)

Other operating income

 

69,075

53,140

Operating profit/(loss)

 

186,585

(1,215,131)

Income from shares in group undertakings

 

-

1,348,148

Other interest receivable and similar income

 

1,381

638

Interest payable and similar expenses

 

(89,392)

(31,410)

   

(88,011)

1,317,376

Profit before tax

4

98,574

102,245

Tax on profit

 

(19,167)

(19,148)

Profit for the financial year

 

79,407

83,097

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Blonde & Grey Limited

Statement of Comprehensive Income for the Year Ended 31 December 2024

2024
£

2023
£

Profit for the year

79,407

83,097

Total comprehensive income for the year

79,407

83,097

 

Blonde & Grey Limited

(Registration number: 12057901)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,315,292

1,296,120

Investments

6

1,000

1,000

 

1,316,292

1,297,120

Current assets

 

Stocks

7

1,200

1,140

Debtors

8

10,050

2,398

Cash at bank and in hand

 

55,200

31,357

 

66,450

34,895

Creditors: Amounts falling due within one year

9

(453,593)

(612,223)

Net current liabilities

 

(387,143)

(577,328)

Total assets less current liabilities

 

929,149

719,792

Creditors: Amounts falling due after more than one year

9

(745,938)

(615,988)

Provisions for liabilities

(26,439)

(26,439)

Net assets

 

156,772

77,365

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

156,672

77,265

Shareholders' funds

 

156,772

77,365

For the financial year ending 31 December 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

 

Blonde & Grey Limited

(Registration number: 12057901)
Balance Sheet as at 31 December 2024

.........................................
Mr Timothy Guy Brocklebank
Director

.........................................
Mrs Hazel Brocklebank
Director

 
     
 

Blonde & Grey Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

100

77,265

77,365

Profit for the year

-

79,407

79,407

At 31 December 2024

100

156,672

156,772

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

(5,832)

(5,732)

Profit for the year

-

83,097

83,097

At 31 December 2023

100

77,265

77,365

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Waterside Court Falmouth Road
Penryn
Cornwall
TR10 8AW
United Kingdom

These financial statements were authorised for issue by the Board on 13 June 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 in the countries where the company operates and generates taxable income.

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Unrelieved tax losses and other deferred tax assets are recognised when 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 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

Fixtures and fittings

15% reducing balance

Office equipment

33% straight line method

Property improvements

Over 10 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

20,980

18,699

Impairment loss

-

1,341,444

Income from shares in group undertakings

-

(1,348,148)

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

1,193,472

126,660

-

1,320,132

Additions

-

37,757

2,394

40,151

At 31 December 2024

1,193,472

164,417

2,394

1,360,283

Depreciation

At 1 January 2024

-

24,012

-

24,012

Charge for the year

-

20,181

798

20,979

At 31 December 2024

-

44,193

798

44,991

Carrying amount

At 31 December 2024

1,193,472

120,224

1,596

1,315,292

At 31 December 2023

1,193,472

102,648

-

1,296,120

Included within the net book value of land and buildings above is £1,193,472 (2023 - £1,193,472) in respect of freehold land and buildings.
 

6

Investments

2024
£

2023
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 January 2024

1,000

Provision

Carrying amount

At 31 December 2024

1,000

At 31 December 2023

1,000

7

Stocks

2024
£

2023
£

Other inventories

1,200

1,140

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Debtors

Current

2024
£

2023
£

Other debtors

10,050

2,398

 

10,050

2,398

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

41,250

46,675

Trade creditors

 

28,739

13,050

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

1,000

1,000

Taxation and social security

 

38,815

48,436

Accruals and deferred income

 

21,836

25,526

Other creditors

 

321,953

477,536

 

453,593

612,223

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

745,938

615,988

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

745,938

615,988

Current loans and borrowings

2024
£

2023
£

Bank borrowings

41,250

46,675

 

Blonde & Grey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Bank borrowings

The carrying amount at year end is £787,188 (2023 - £1,278,651).

The bank loans and borrowings are secured as follows:
a) A legal charge over Hotel VARA, 49 Falmouth Road, Truro TR1 2HL
b) A legal charge over all estates or interests in any freehold or leasehold property belonging to the borrower (Blonde & Grey Limited)

12

Related party transactions

As at 31 December 2024 the company owes the directors £265,562 (2023: 382,314)