Bluebay Estate Agents Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04358550 (England and Wales)

BLUEBAY ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Abdoolla

A M Abdoolla

SECRETARY:

M R Abdoolla

REGISTERED OFFICE:

5 Ty Nant Court

Morganstown

Cardiff

County of Cardiff

CF15 8LW

REGISTERED NUMBER:

04358550 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

976

2,648

Investment property

5

5,685,000

5,400,000

5,685,976

5,402,648

CURRENT ASSETS

Debtors

6

22,284

4,620

Cash at bank

5,350

167,576

27,634

172,196

CREDITORS

Amounts falling due within one year

7

(286,475

)

(782,433

)

NET CURRENT LIABILITIES

(258,841

)

(610,237

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,427,135

4,792,411

CREDITORS

Amounts falling due after more than one
year

8

(3,416,783

)

(3,265,718

)

PROVISIONS FOR LIABILITIES

(207,170

)

(167,175

)

NET ASSETS

1,803,182

1,359,518

CAPITAL AND RESERVES

Called up share capital

10

2

Non-distributable reserves

924,043

920,510

Retained earnings

879,137

439,006

SHAREHOLDERS' FUNDS

1,803,182

1,359,518

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 Profit and Loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

M R Abdoolla - Director

1.	STATUTORY INFORMATION

Bluebay Estate Agents 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover

The turnover shown in the profit and loss account represents amounts receivable in respect of rental income during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and fittings

-

20% on cost

All fixed assets are initially recorded at cost.

Investment properties

Investment properties are shown at their fair value. The surplus or deficit arising from the annual revaluation is recognised in the profit and loss account for the year. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Furniture

and

fittings

£

COST

At 1 October 2023

and 30 September 2024

20,401

DEPRECIATION

At 1 October 2023

17,753

Charge for year

1,672

At 30 September 2024

19,425

NET BOOK VALUE

At 30 September 2024

976

At 30 September 2023

2,648

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

5,400,000

Additions

258,684

Revaluations

26,316

At 30 September 2024

5,685,000

NET BOOK VALUE

At 30 September 2024

5,685,000

At 30 September 2023

5,400,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2024

5,685,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

Cost

4,533,530

4,274,845

Investment was valued on a fair value basis basis on 30 September 2024 by the directors .

The investment property was valued on a fair value basis at 30 September 2024 by the directors who do not have formal valuation qualifications. In valuing the property the directors have considered sales prices of comparable properties in a similar area.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

800

Amounts owed by group undertakings

3,820

Directors' current accounts

17,664

-

22,284

4,620

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Mortgages and bank loans

28,995

25,472

Amounts owed to group undertakings

254,360

647,516

Directors' current accounts

-

103,684

Accruals and deferred income

3,120

5,761

286,475

782,433

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Mortgages 1 - 2 years

30,462

25,472

Mortgages 2 - 5 years

101,209

76,416

Mortgages more than 5 years

by instalment

418,389

113,031

Mortgages more than 5 years not by
instalment

2,866,723

3,050,799

3,416,783

3,265,718

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages more than 5 years not by
instalment

2,866,723

3,050,799

Repayable by instalments

Mortgages more than 5 years

by instalment

418,389

113,031

418,389

113,031

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Mortgages

3,445,778

3,291,191

The company's borrowings are secured by a fixed charge over the investment property.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

2

Ordinary

£1

2