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Company No: 01561341 (England and Wales)

# CHINA BLUE (DEVON) LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

CHINA BLUE (DEVON) LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

CHINA BLUE (DEVON) LIMITED

## BALANCE SHEET

As at 31 December 2025
CHINA BLUE (DEVON) LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,008,967 |  | 828,185
Investment property | 4 | 2,637,557 |  | 2,637,557
|  | 3,646,524 |  | 3,465,742
Current assets |  |  |  |
Stocks |  | 20,810 |  | 26,066
Debtors | 5 | 3,517 |  | 14,758
Cash at bank and in hand |  | 118,057 |  | 82,144
|  | 142,384 |  | 122,968
Creditors: amounts falling due within one year | 6 | ( 1,919,586) |  | ( 1,870,045)
Net current liabilities |  | (1,777,202) |  | (1,747,077)
Total assets less current liabilities |  | 1,869,322 |  | 1,718,665
Creditors: amounts falling due after more than one year | 7 | ( 369,660) |  | ( 415,867)
Provision for liabilities |  | ( 54,550) |  | ( 25,566)
Net assets |  | 1,445,112 |  | 1,277,232
Capital and reserves |  |  |  |
Called-up share capital | 8 | 3,700 |  | 3,700
Capital redemption reserve |  | 6,300 |  | 6,300
Profit and loss account |  | 1,435,112 |  | 1,267,232
Total shareholder's funds |  | 1,445,112 |  | 1,277,232

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of China Blue (Devon) Limited (registered number: 01561341) were approved and authorised for issue by the Board of Directors on 07 April 2026. They were signed on its behalf by:

Ms F J E Egan Director |

CHINA BLUE (DEVON) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
CHINA BLUE (DEVON) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

China Blue (Devon) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Station Road, Totnes, Devon, TQ9 5JR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Vehicles | 25 % reducing balance
Fixtures and fittings | 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 22 |  | 17

#### 3. Tangible assets

| Land and buildings |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 1,143,287 |  | 35,980 |  | 215,600 |  | 1,394,867
Additions | 89,502 |  | 0 |  | 162,823 |  | 252,325
At 31 December 2025 | 1,232,789 |  | 35,980 |  | 378,423 |  | 1,647,192
Accumulated depreciation |  |  |  |  |  |  |
At 01 January 2025 | 417,367 |  | 15,741 |  | 133,574 |  | 566,682
Charge for the financial year | 24,656 |  | 5,060 |  | 41,827 |  | 71,543
At 31 December 2025 | 442,023 |  | 20,801 |  | 175,401 |  | 638,225
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 790,766 |  | 15,179 |  | 203,022 |  | 1,008,967
At 31 December 2024 | 725,920 |  | 20,239 |  | 82,026 |  | 828,185

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 January 2025 | 2,637,557
As at 31 December 2025 | 2,637,557

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 3,517 |  | 14,758

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 46,208 |  | 46,208
Trade creditors | 88,942 |  | 75,088
Accruals | 27,836 |  | 23,826
Taxation and social security | 107,682 |  | 145,567
Other creditors | 1,648,918 |  | 1,579,356
| 1,919,586 |  | 1,870,045

Included within creditors is an amount of £1,647,123 (2024 - £1,578,031) due to Devon Ceramics (Contracts) Limited, a company under common control. The loan is interest free and repayable on demand.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 369,660 |  | 415,867

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans (secured / repayable by instalments) | 184,830 |  | 231,037

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
185 'A' Ordinary shares of £ 1.00 each | 185 |  | 185
185 'B' Ordinary shares of £ 1.00 each | 185 |  | 185
3,330 Ordinary shares of £ 1.00 each | 3,330 |  | 3,330
| 3,700 |  | 3,700

#### 9. Ultimate controlling party

Parent Company:

Mandarin Blue Limited
Station Road, Totnes, Devon, TQ9 5JR