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REGISTERED NUMBER: 08195344 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

BLUE MAR LIMITED

BLUE MAR LIMITED (REGISTERED NUMBER: 08195344)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLUE MAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: V N Shah
R R Shah





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: 08195344 (England and Wales)






BLUE MAR LIMITED (REGISTERED NUMBER: 08195344)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 584,941 634,719

CURRENT ASSETS
Debtors 5 147,290 225,343
Cash at bank and in hand 704,871 651,062
852,161 876,405
CREDITORS
Amounts falling due within one year 6 256,351 370,097
NET CURRENT ASSETS 595,810 506,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,180,751

1,141,027

CREDITORS
Amounts falling due after more than one year 7 1,296,294 1,670,378
NET LIABILITIES (115,543 ) (529,351 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (116,543 ) (530,351 )
SHAREHOLDERS' FUNDS (115,543 ) (529,351 )

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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st May 2025 and were signed on its behalf by:





V N Shah - Director


BLUE MAR LIMITED (REGISTERED NUMBER: 08195344)

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


1. STATUTORY INFORMATION

Blue Mar 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

At the year end, the company balance sheet showed net liabilities of £115,543 (2023: £529,351). The directors are confident that the company has sufficient resources to continue in existence for the foreseeable future. The directors have reviewed the performance of the company. They have successfully turned around the financial position and cash flows of the company and are confident that the company remains a going concern and that it can recover its previous losses. The short term projections indicate that the company's financial statements will show a profit for the next and the following years. For this reason the company continues to prepare these financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. 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 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

BLUE MAR LIMITED (REGISTERED NUMBER: 08195344)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2023 - 75 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2023 1,457,989
Additions 53,446
At 31st August 2024 1,511,435
DEPRECIATION
At 1st September 2023 823,270
Charge for year 103,224
At 31st August 2024 926,494
NET BOOK VALUE
At 31st August 2024 584,941
At 31st August 2023 634,719

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st September 2023 25,800
Additions 3,042
At 31st August 2024 28,842
DEPRECIATION
At 1st September 2023 12,333
Charge for year 2,476
At 31st August 2024 14,809
NET BOOK VALUE
At 31st August 2024 14,033
At 31st August 2023 13,467

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 141,610 194,404
Other debtors 5,680 30,939
147,290 225,343

BLUE MAR LIMITED (REGISTERED NUMBER: 08195344)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Hire purchase contracts - 3,939
Trade creditors 111,946 161,940
Taxation and social security 33,061 21,407
Other creditors 111,344 182,811
256,351 370,097

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Other creditors 1,296,294 1,670,378