1 January 2024 v2025.31.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPNI6183042024-01-012024-12-31NI6183042024-12-31NI6183042023-12-31NI618304core:WithinOneYear2024-12-31NI618304core:WithinOneYear2023-12-31NI618304core:AfterOneYear2023-12-31NI618304core:ShareCapital2024-12-31NI618304core:ShareCapital2023-12-31NI618304core:RetainedEarningsAccumulatedLosses2024-12-31NI618304core:RetainedEarningsAccumulatedLosses2023-12-31NI618304bus:Director12024-01-012024-12-31NI618304bus:Director22024-01-012024-12-31NI618304bus:RegisteredOffice2024-01-012024-12-31NI6183042023-01-012023-12-31NI618304core:CostValuation2024-01-01NI618304core:AdditionsToInvestments2024-12-31NI618304core:CostValuation2024-12-31NI618304countries:NorthernIreland2024-01-012024-12-31NI618304bus:AuditExempt-NoAccountantsReport2024-01-012024-12-31NI618304bus:PrivateLimitedCompanyLtd2024-01-012024-12-31NI618304bus:SmallEntities2024-01-012024-12-31NI618304bus:FullAccounts2024-01-012024-12-31
Company registration number:
NI618304
Blue Titans Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Blue Titans Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Blue Titans Ltd
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
Blue Titans Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Blue Titans Ltd
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Investments 5
14,435
 
4,805
 
Current assets    
Debtors 6
6,375,100
 
3,913,233
 
Cash at bank and in hand
5,921
 
2,467
 
6,381,021
 
3,915,700
 
Creditors: amounts falling due within one year 7
(6,437,395
 )
(3,349,801
 )
Net current (liabilities)/assets
(56,374
 )
565,899
 
Total assets less current liabilities (41,939 ) 570,704  
Creditors: amounts falling due after more than one year 8 -  
(520,000
 )
Net (liabilities)/assets
(41,939
 )
50,704
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(42,039
 )
50,604
 
Shareholders (deficit)/funds
(41,939
 )
50,704
 
For the 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 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.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
30 June 2025
, and are signed on behalf of the board by:
Andrew Agnew
Philip Agnew
DirectorDirector
Company registration number:
NI618304
Blue Titans Ltd
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is
336 Lisburn Road
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
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.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

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.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Investments

Shares in group undertakings and participating interestsOther investmentsTotal
£££
Cost      
At
1 January 2024
200
 
4,605
 
4,805
 
Additions -  
9,630
 
9,630
 
At
31 December 2024
200
 
14,235
 
14,435
 
Impairment      
At
1 January 2024
and
31 December 2024
 -   -   -  
Carrying amount      
At
31 December 2024
200
 
14,235
 
14,435
 
At 31 December 2023
200
 
4,605
 
4,805
 
Shares in group undertakings and participating interests comprise 100% shareholdings in IMG Developments Ltd (NI619488) and RMA Belfast Ltd (NI621489).

6 Debtors

20242023
££
Trade debtors -  
13,133
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
6,375,000
 
3,900,000
 
Other debtors
100
 
100
 
6,375,100
 
3,913,233
 
Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
3,336,675
 
240,000
 
Other creditors
3,100,720
 
3,109,801
 
6,437,395
 
3,349,801
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts -  
520,000
 

9 Controlling party

There is not considered to be an ultimate controlling party due to an equal shareholding in the ultimate parent undertaking.