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Registered number: 02598908
Bluebird Chain & Findings Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Taxave Limited
59 Gales Drive
Crawley
RH10 1QA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02598908
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 16,000 32,000
Tangible Assets 5 955 1,273
16,955 33,273
CURRENT ASSETS
Stocks 6 93,250 91,500
Debtors 7 76,673 69,945
Cash at bank and in hand 25,802 14,839
195,725 176,284
Creditors: Amounts Falling Due Within One Year 8 (59,262 ) (42,406 )
NET CURRENT ASSETS (LIABILITIES) 136,463 133,878
TOTAL ASSETS LESS CURRENT LIABILITIES 153,418 167,151
PROVISIONS FOR LIABILITIES
Deferred Taxation (182 ) (242 )
NET ASSETS 153,236 166,909
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 153,136 166,809
SHAREHOLDERS' FUNDS 153,236 166,909
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Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gerald Pugh
Director
5th December 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Bluebird Chain & Findings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02598908 . The registered office is Unit 3 Kelvin Business Centre, Kelvin Way, Manor Royal , Crawley, West Sussex , RH10 9SF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which the director considers shall be five years commencing from March 2022.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Office Equipment 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 80,000
As at 31 March 2025 80,000
Amortisation
As at 1 April 2024 48,000
Provided during the period 16,000
As at 31 March 2025 64,000
...CONTINUED
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Net Book Value
As at 31 March 2025 16,000
As at 1 April 2024 32,000
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Office Equipment Total
£ £ £ £
Cost
As at 1 April 2024 3,500 20,112 2,400 26,012
As at 31 March 2025 3,500 20,112 2,400 26,012
Depreciation
As at 1 April 2024 3,439 19,816 1,484 24,739
Provided during the period 15 74 229 318
As at 31 March 2025 3,454 19,890 1,713 25,057
Net Book Value
As at 31 March 2025 46 222 687 955
As at 1 April 2024 61 296 916 1,273
6. Stocks
2025 2024
£ £
Stock 93,250 91,500
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 53,678 45,099
Prepayments and accrued income 7,529 7,978
Other debtors 15,202 16,085
Amounts owed by associates 264 783
76,673 69,945
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 43,407 28,092
Corporation tax 4,024 982
Other taxes and social security 1,457 1,600
VAT 6,871 8,763
Other creditors 1,210 1,168
Accruals and deferred income 912 920
Director's loan account 1,381 881
59,262 42,406
9. Share Capital
2025 2024
Allotted, called up but not fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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