REGISTERED NUMBER: 10538426 (England and Wales)

BLUEBAY ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Abdoolla

M R Abdoolla

SECRETARY:

M R Abdoolla

REGISTERED OFFICE:

5 Ty Nant Court

Morganstown

CARDIFF

County of Cardiff

CF15 8LW

REGISTERED NUMBER:

10538426 (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

420,143

427,960

CURRENT ASSETS

Debtors

5

3,122

2,423

Cash at bank

6,779

8,044

9,901

10,467

CREDITORS

Amounts falling due within one year

6

(26,755

)

(18,314

)

NET CURRENT LIABILITIES

(16,854

)

(7,847

)

TOTAL ASSETS LESS CURRENT LIABILITIES

403,289

420,113

CREDITORS

Amounts falling due after more than one year

7

(129,536

)

(412,970

)

NET ASSETS

273,753

7,143

CAPITAL AND RESERVES

Called up share capital

9

2

2

Non distributable reserve

10

36,264

36,264

Retained earnings

237,487

(29,123

)

SHAREHOLDERS' FUNDS

273,753

7,143

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 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 Enterprises 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.

GOING CONCERN

At 30 September 2024 the company had net current liabilities. The going concern basis is considered

appropriate for the preparation of the financial statements due to the continued support of the directors.

The directors are satisfied that it is appropriate for the company's financial statements to be prepared on a going concern basis. In the circumstances, they have concluded that no adjustments are required to the financial statements at this time.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year for the supply of administration support and maintenance charges, exclusive of Value Added Tax.

Tangible fixed assets

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

Fixtures and Fittings

-

50% on cost

Computer equipment

-

10 - 33% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost.

Taxation

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 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

and

Motor

Computer

Property

Fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2023

and 30 September 2024

400,000

2,308

32,495

12,530

447,333

DEPRECIATION

At 1 October 2023

-

2,308

7,041

10,024

19,373

Charge for year

-

-

6,499

1,318

7,817

At 30 September 2024

-

2,308

13,540

11,342

27,190

NET BOOK VALUE

At 30 September 2024

400,000

-

18,955

1,188

420,143

At 30 September 2023

400,000

-

25,454

2,506

427,960

The freehold property was valued on a fair value basis by the directors who do not have formal valuation qualifications. In valuing the property the directors have considered sales prices of comparable properties in the same area.

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

2,521

-

Accrued Income

601

2,107

3,122

2,107

Amounts falling due after more than one year:

Deferred tax asset

-

316

Aggregate amounts

3,122

2,423

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

5,232

5,521

Amounts owed to associated undertakings

12,499

6,613

VAT

4,372

1,509

Directors' current accounts

2,053

2,672

Accruals and deferred income

2,599

1,999

26,755

18,314

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

47,466

47,466

Bank loans more 5 yr by instal

82,070

87,013

Loan from associated company

-

278,491

129,536

412,970

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

82,070

87,013

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Mortgage

134,768

140,000

On 07th April 2017, Aldermore Bank PLC secured a fixed and floating charge over all the property or undertaking in the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Non

distributable

reserve

£

At 1 October 2023

and 30 September 2024

36,264

FRS102 requires any revaluation to be taken to the profit and loss account. As the gain is not realised it does not form part of the company's distributable reserves and hence the company has elected to maintain a separate reserve to account for the undistributable element.