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Unaudited Financial Statements |
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for the Year Ended 30 May 2020 |
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for |
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Blue Ted Development Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 May 2020 |
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for |
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Blue Ted Development Limited |
Blue Ted Development Limited (Registered number: 07626068) |
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Contents of the Financial Statements |
for the Year Ended 30 May 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Blue Ted Development Limited |
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Company Information |
for the Year Ended 30 May 2020 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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t/a A J Bennewith & Co |
3 Wey Court |
Mary Road |
Guildford |
Surrey |
GU1 4QU |
Blue Ted Development Limited (Registered number: 07626068) |
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Balance Sheet |
30 May 2020 |
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30.5.20 | 30.5.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges her 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. |
Blue Ted Development Limited (Registered number: 07626068) |
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Balance Sheet - continued |
30 May 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Blue Ted Development Limited (Registered number: 07626068) |
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Notes to the Financial Statements |
for the Year Ended 30 May 2020 |
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1. | STATUTORY INFORMATION |
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Blue Ted Development Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price costs directly attributable to bringing the asset to its working condition for its intended use. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Fixtures and fittings - 3 years straight line |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Blue Ted Development Limited (Registered number: 07626068) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 May 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 31 May 2019 |
and 30 May 2020 |
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DEPRECIATION |
At 31 May 2019 |
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Charge for year |
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At 30 May 2020 |
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NET BOOK VALUE |
At 30 May 2020 |
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At 30 May 2019 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 31 May 2019 |
and 30 May 2020 |
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NET BOOK VALUE |
At 30 May 2020 |
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At 30 May 2019 |
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Investment property owned by the company has been valued at 30 May 2020 by the director, based on professional advice, using an open market value for existing use basis at £1,370,000 (2019: £1,370,000). |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.5.20 | 30.5.19 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.5.20 | 30.5.19 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Blue Ted Development Limited (Registered number: 07626068) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 May 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.5.20 | 30.5.19 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 193,274 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.5.20 | 30.5.19 |
£ | £ |
Bank loans |
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The bank loan is secured by a floating charge over one of the investment properties, its fixtures and fittings and any plant and equipment at the property. |
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10. | RELATED PARTY TRANSACTIONS |
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At the balance sheet date the company owed £561,630 (2019: £589,600) to the director, S T McLean. This loan is interest free and repayable on demand. |