COMPANY REGISTRATION NUMBER:
02110109
Bluesky Trustee Company Ltd
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Filleted Unaudited Financial Statements
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Bluesky Trustee Company Ltd
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Statement of Financial Position
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5 April 2022
Fixed assets
Investments
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5
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85,000
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85,000
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Current assets
Debtors
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6
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13,680
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13,680
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--------
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Net current assets
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13,680
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13,680
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Total assets less current liabilities
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98,680
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98,680
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--------
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Capital and reserves
Called up share capital
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100
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100
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Profit and loss account
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98,580
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98,580
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Shareholders funds
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98,680
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98,680
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--------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the year and has not made either a profit or loss.
For the year ending 5 April 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
2 September 2022
, and are signed on behalf of the board by:
Company registration number:
02110109
Bluesky Trustee Company Ltd
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Notes to the Financial Statements
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Year ended 5 April 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2, White Oak Square, London Road, Swanley, Kent, BR8 7AG.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
During the year, the average number of persons employed by the company amounted to 0 (2021: 0). Please note that the above employee figure does not include the directors of the company.
5.
Investments
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Shares in group undertakings
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£
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Cost
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At 6 April 2021 and 5 April 2022
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85,000
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Impairment
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At 6 April 2021 and 5 April 2022
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–
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Carrying amount
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At 5 April 2022
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85,000
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At 5 April 2021
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85,000
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The £85,000 relates to the company's 100% shareholding in Evolve Pensions Limited.
6.
Debtors
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2022
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2021
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£
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£
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Other debtors
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13,680
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13,680
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7.
Related party transactions
During the prior year there was a write off of an intercompany loan totalling £186,587. This was in relation to the novation of loans from Bluesky Trustee Company Ltd to Evolve Pensions Limited which was transferred through the intercompany. It was agreed that no intercompany balance would be recoverable from the company by Evolve Pensions Limited, and as a result this was written off.