Registration number:
Blueville Limited
for the Year Ended 31 March 2017
Blueville Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Blueville Limited
Company Information
Directors |
C J Storr S H Storr |
Company secretary |
S H Storr |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Blueville Limited
for the Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blueville Limited for the year ended 31 March 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Blueville Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blueville Limited and state those matters that we have agreed to state to the Board of Directors of Blueville Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blueville Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Blueville Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blueville Limited. You consider that Blueville Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Blueville Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................................................
Millennium Way
Pride Park
Derby
DE24 8HG
Page 2 |
Blueville Limited
(Registration number: 06163019)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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|
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Cash at bank and in hand |
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|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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|
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Profit and loss account |
( |
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Total equity |
( |
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For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
C J Storr
Director
Page 3 |
Blueville Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of the registered office is given in the company information on page 1 of the financial statements.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the directors not requiring the withdrawal of their monies owed to them until sufficient funds are available.
If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Page 4 |
Blueville Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% reducing balance |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Blueville Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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Debtors |
2017 |
2016 |
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Other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Corporation tax |
- |
2,645 |
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Other creditors |
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Due after one year |
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Loans and borrowings |
- |
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Page 6 |
Blueville Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Related party transactions |
Transactions with directors |
2017 |
At 1 April 2016 |
Advances to directors |
Repayments by director |
At 31 March 2017 |
Interest free loan repayable on demand |
(4,430) |
( |
|
( |
2016 |
At 1 April 2015 |
Advances to directors |
Repayments by director |
At 31 March 2016 |
Interest free loan repayable on demand |
438 |
( |
|
( |
Non adjusting events after the financial period |
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Transition to FRS 102 |
The transition to FRS102 has not resulted in any changes between the amounts prepared previously under UK GAAP and those presented in compliance with FRS 102.
Page 7 |