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COMPANY REGISTRATION NUMBER: 10332357
Blue Garnet Management Services Limited
Filleted Unaudited Financial Statements
30 March 2025
Blue Garnet Management Services Limited
Statement of Financial Position
30 March 2025
2025
2024
Note
£
£
Fixed assets
Investments
4
958,470
958,470
Current assets
Debtors
5
358,584
351,296
Cash at bank and in hand
1,923
490
---------
---------
360,507
351,786
Creditors: amounts falling due within one year
6
( 324,658)
( 335,955)
---------
---------
Net current assets
35,849
15,831
---------
---------
Total assets less current liabilities
994,319
974,301
Creditors: amounts falling due after more than one year
7
( 3,926)
( 13,676)
---------
---------
Net assets
990,393
960,625
---------
---------
Capital and reserves
Called up share capital
353
353
Share premium account
499,647
499,647
Other reserves
458,470
458,470
Profit and loss account
31,923
2,155
---------
---------
Shareholders funds
990,393
960,625
---------
---------
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 income statement has not been delivered.
For the year ending 30 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Blue Garnet Management Services Limited
Statement of Financial Position (continued)
30 March 2025
These financial statements were approved by the board of directors and authorised for issue on 17 June 2025 , and are signed on behalf of the board by:
Miss L McLachlan
Director
Company registration number: 10332357
Blue Garnet Management Services Limited
Notes to the Financial Statements
Year ended 30 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Old Hall Farm, 19 Barnston Lane, Moreton, Wirral, CH46 7TN.
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.
Valuation of investment
As describe in the accounting policies, investment in subsidiaries are recognised at fair value with changes in fair value recognised in other comprehensive income.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on experience and other factors considered to be relevant. Actual results may differ from these estimates. The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described in the accounting policies.
Revenue recognition
Turnover represents net invoiced sales from management services and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised as the service is provided.
Income tax
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax payable or recoverable 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 that have originated but not reversed at the reporting 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. Current or deferred taxation assets and liabilities are not discounted. 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.
Investments
Investments in subsidiaries are recognised at fair value with changes in fair value recognised in other comprehensive income in accordance with paragraph 17.15E and 17.15F.
Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
4. Investments
Shares in group undertakings
£
Cost
At 31 March 2024 and 30 March 2025
958,470
---------
Impairment
At 31 March 2024 and 30 March 2025
---------
Carrying amount
At 30 March 2025
958,470
---------
At 30 March 2024
958,470
---------
Cost or valuation at 30 March 2025 is represented by:
Shares in group undertakings
£
Valuation in 2019
366,824
Valuation in 2020
(241,489)
Valuation in 2022
333,135
Cost
500,000
---------
958,470
---------
5. Debtors
2025
2024
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
358,160
351,296
Other debtors
424
---------
---------
358,584
351,296
---------
---------
6. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,239
10,489
Corporation tax
10,307
19,988
Other creditors
304,112
305,478
---------
---------
324,658
335,955
---------
---------
7. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,926
13,676
-------
--------
8. Employees and directors
Average number of employees during the year was nil (2024: nil).
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr L McLachlan
Miss L McLachlan
----
----
----
----
----
----
----
----
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr L McLachlan
36,993
( 36,993)
Miss L McLachlan
( 25,169)
25,169
--------
--------
--------
----
11,824
25,169
( 36,993)
--------
--------
--------
----
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2025
2024
2025
2024
£
£
£
£
Pearl Management Limited
( 299,872)
( 293,598)
----
----
---------
---------
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. During the year, no dividends were paid to the directors.
11. Controlling party
The controlling party is L McLachlan.