REGISTERED NUMBER: 12906766 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Blue Whale Properties Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

253

649

Investment property

5

690,000

709,897

690,253

710,546

CURRENT ASSETS

Debtors

6

899

89

Cash at bank and in hand

2,338

2,611

3,237

2,700

CREDITORS

Amounts falling due within one year

7

(142,696

)

(149,679

)

NET CURRENT LIABILITIES

(139,459

)

(146,979

)

TOTAL ASSETS LESS CURRENT LIABILITIES

550,794

563,567

CREDITORS

Amounts falling due after more than one year

8

(611,744

)

(599,744

)

PROVISIONS FOR LIABILITIES

(63

)

(162

)

NET LIABILITIES

(61,013

)

(36,339

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(61,015

)

(36,341

)

SHAREHOLDERS' FUNDS

(61,013

)

(36,339

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 7 August 2025 and were signed on its behalf by:

Ms L A Bishop - Director

Mr M W Bishop - Director

1.	STATUTORY INFORMATION

Blue Whale Properties Ltd is a private company, limited by shares, registered in England and Wales, registered number 12906766. The registered office is Suite 2A, 7th Floor - PF City Reach, 5 Greenwich View Place, London, England, E14 9NN.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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 as modified by the revaluation of certain assets.

Rental income

Rental income from investment properties are recognised in the profit and loss account on a receivable basis.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings - 25% on cost

Computer equipment - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Investment property

The freehold investment property is carried at fair value determined annually by the directors and derived from current market rents and investment property yields for comparable properties, adjusted if necessary for any difference in the nature, location or condition of the property. No depreciation is provided on the freehold building and changes in fair value are recognised in profit or loss.

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.

Going concern

The directors consider it appropriate to prepare the Financial Statements on a going concern basis because of his continued support.

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2023

1,211

1,388

2,599

Additions

335

-

335

At 30 September 2024

1,546

1,388

2,934

DEPRECIATION

At 1 October 2023

908

1,042

1,950

Charge for year

385

346

731

At 30 September 2024

1,293

1,388

2,681

NET BOOK VALUE

At 30 September 2024

253

-

253

At 30 September 2023

303

346

649

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

709,897

Revaluations

(19,897

)

At 30 September 2024

690,000

NET BOOK VALUE

At 30 September 2024

690,000

At 30 September 2023

709,897

Fair value at 30 September 2024 is represented by:

£

Valuation in 2023

317

Valuation in 2024

(19,897

)

Cost

709,580

690,000

30 Sep 24 30 Sep 23

£ £

Historical cost of the investment properties 709,580 709,580

The investment properties were revalued at £690,000 (2023: £709,897) as at 30 Sep 2024 by the Director of the company based on his judgment.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other debtors

899

89

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other creditors

142,696

149,679

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Other creditors

611,744

599,744

Other creditors include £474,745 (2023 : £474,745) mortgage loan on the investment property and the mortgage provider holds a fixed charges on the property.