Company No:
Contents
| DIRECTORS | Dr H Badra |
| M Elguindi |
| REGISTERED OFFICE | 48 Suffolk Road |
| London | |
| SW13 9NR | |
| United Kingdom |
| COMPANY NUMBER | 09793244 (England and Wales) |
| ACCOUNTANT | S&W Partners LLP |
| Onslow House | |
| Onslow Street | |
| Guildford | |
| GU1 4TL |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investments | 4 |
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| 2,466,290 | 2,486,872 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 1,889 | 21,830 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (2,062,576) | (2,175,694) | ||
| Total assets less current liabilities | 403,714 | 311,178 | ||
| Provision for liabilities | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Bluekeep Investments Limited (registered number:
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M Elguindi
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Bluekeep Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 48 Suffolk Road, London, SW13 9NR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Bluekeep Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
The comparative figures displayed on the Statement of Income and Retained Earnings have been restated for classification and presentational purposes.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
| Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in listed shares are classified as basic financial instruments. They are initially measured at transaction price and subsequently measured at fair value, with changes in fair value being recognised in profit or loss. Fair value is determined using the quoted bid price at the balance sheet date.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
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| At 30 September 2024 |
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| Accumulated depreciation | |||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||
| At 30 September 2024 |
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| At 30 September 2023 |
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| Listed investments | Other investments | Total | |||
| £ | £ | £ | |||
| Cost or valuation before impairment | |||||
| At 01 October 2023 |
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| Additions |
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| Disposals | (
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| Movement in fair value | (
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| At 30 September 2024 |
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| Carrying value at 30 September 2024 |
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| Carrying value at 30 September 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Prepayments |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank overdrafts |
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| Trade creditors |
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| Amounts owed to directors |
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| Accruals |
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| (Charged)/credited to the Statement of Income and Retained Earnings | (
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| At the end of financial year | (
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Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Repayments made to the director by the Company | (21,052) | 0 | |
| Loan to the Company | 0 | 1,494,210 |
At the year end, the Company owed the director £1,479,627 (2023 - £1,500,679). This loan is interest free, unsecured and repayable on demand.
The director has provided a £1,000,000 guarantee to Credit Suisse (UK) Limited in respect of the Company's overdraft.