REGISTERED NUMBER: 14299329 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

BLUES PROPERTY LETTINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I Purkiss

REGISTERED OFFICE:

98c Hartington Grove

Cambridge

Cambridgeshire

CB1 7UB

REGISTERED NUMBER:

14299329 (England and Wales)

ACCOUNTANTS:

TC Group

1st Floor

5-7 Portugal Place

Cambridge

Cambridgeshire

CB5 8AF

FIXED ASSETS

Tangible assets

5

9,055

11,772

Investment property

6

1,775,496

710,000

1,784,551

721,772

CURRENT ASSETS

Debtors

7

18,205

5,938

Cash and cash equivalents

13,947

26,011

32,152

31,949

CREDITORS

Amounts falling due within one year

8

(485,834

)

(200,632

)

NET CURRENT LIABILITIES

(453,682

)

(168,683

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,330,869

553,089

CREDITORS

Amounts falling due after more than one year

9

(1,290,200

)

(494,962

)

PROVISIONS FOR LIABILITIES

11

(8,827

)

(11,397

)

NET ASSETS

31,842

46,730

CAPITAL AND RESERVES

Called up share capital

12

100

100

Fair value reserve

13

26,480

42,230

Retained earnings

5,262

4,400

SHAREHOLDERS' FUNDS

31,842

46,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 May 2026 and were signed by:

I Purkiss - Director

1.	STATUTORY INFORMATION

Blues Property Lettings 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rents receivable.

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

-

20% on cost

Investment property

The investment property is held at fair value in accordance with Section 16 of FRS 102. Surpluses or deficits arising from changes in fair value are recognised in profit or loss for the year.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

and 31 August 2025

17,188

DEPRECIATION

At 1 September 2024

5,416

Charge for year

2,717

At 31 August 2025

8,133

NET BOOK VALUE

At 31 August 2025

9,055

At 31 August 2024

11,772

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

710,000

Additions

1,086,496

Revaluations

(21,000

)

At 31 August 2025

1,775,496

NET BOOK VALUE

At 31 August 2025

1,775,496

At 31 August 2024

710,000

Fair value at 31 August 2025 is represented by:

£

Valuation in 2024

56,307

Valuation in 2025

(21,000

)

Cost

1,740,189

1,775,496

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

2025

2024

£

£

Cost

1,740,189

653,693

Investment property was valued on an open market basis on 31 August 2025 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by associates

17,925

-

Other debtors

280

5,938

18,205

5,938

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,673

19,673

Amounts owed to group undertakings

385,432

178,688

Other creditors

98,729

2,271

485,834

200,632

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

1,290,200

494,962

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Mortgage

1,290,200

494,962

The mortgage in other creditors is secured by a fixed and floating charge over the property to which they relate.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

8,827

11,397

Deferred

tax

£

Balance at 1 September 2024

11,397

Credit to Profit and loss account during year

(2,570

)

Balance at 31 August 2025

8,827

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Fair

value

reserve

£

At 1 September 2024

42,230

Movement

(15,750

)

At 31 August 2025

26,480

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Blues Property Limited.

15.	RELATED PARTY TRANSACTIONS

At the balance sheet date £385,432 (2024: £178,688) was owed to the parent company. The amount bears no interest, is repayable on demand and included within creditors due in less than one year.

At the balance sheet date companies under common control owed the company £17,925 (2024: £nil). The amounts bear no interest, are repayable on demand and included within debtors due in less than one year.

16.	KEY JUDGEMENTS IN APPLYING ACCOUNTING POLICIES

In the process of applying the company’s accounting policies, the director has made the following judgements that have the most significant effect on the amounts recognised in the financial statements:

Classification and measurement of investment property

The director has exercised judgement in determining that certain properties held by the company meet the definition of investment property under FRS 102 and are therefore measured at fair value, with changes in fair value recognised in profit or loss. This includes consideration of the use of the property and the intention to hold for rental income and/or capital appreciation rather than for use in the business.

17.	KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires the director to make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Investment property valuation

The company’s investment property is stated at fair value. The fair value has been determined by the director with reference to open market values based on comparable market transactions for similar properties.

The valuation is inherently subjective and is based on assumptions including the condition and location of the property, prevailing market conditions and yields. Changes in these assumptions could have a material impact on the reported fair value. Given the significance of the investment property balance to the company’s financial position, relatively small changes in market values could result in material movements in the financial statements.

Deferred taxation

Deferred tax is recognised in respect of timing differences, including those arising from the revaluation of investment property.

The measurement of deferred tax requires estimation in relation to the expected manner and timing of recovery of assets, together with the application of tax rates expected to apply at the point of reversal. Changes in tax legislation, tax rates or the expected manner of recovery could result in material adjustments to the deferred tax provision.

18.	GOING CONCERN

The financial statements have been prepared on a going concern basis.

In assessing the company’s ability to continue as a going concern, the director has considered the company’s financial position, including its level of borrowings and net current liability position at the balance sheet date.

The company is funded through a combination of rental income generated from its investment property and external financing, including mortgage finance and amounts due to group undertakings. The director has considered cash flow forecasts and is satisfied that the company will have access to sufficient financial resources to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements.

Accordingly, the director considers it appropriate to prepare the financial statements on a going concern basis.