Company No:
Contents
DIRECTORS | Mr T G Robinson |
Mr R J Smith | |
Mr N F Warnock | |
Mr M Weightman |
SECRETARY | Mrs S J Payne |
REGISTERED OFFICE | The Forge |
122 Millshaw | |
Leeds | |
West Yorkshire | |
LS11 8LZ | |
United Kingdom |
COMPANY NUMBER | 07538415 (England and Wales) |
CHARTERED ACCOUNTANTS | Murray Harcourt Partners LLP |
6 Queen Street | |
Leeds | |
LS1 2TW |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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2 | 2 | |||
Current assets | ||||
Debtors | 4 |
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302 | 652 | |||
Creditors | ||||
Amounts falling due within one year | 5 |
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Net current assets | 302 | 302 | ||
Total assets less current liabilities | 304 | 304 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Capital redemption reserve |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Bluesmith Technology Group Limited (registered number:
Mr M Weightman
Director |
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.
Bluesmith Technology Group 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 The Forge, 122 Millshaw, Leeds, West Yorkshire, LS11 8LZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Current tax is provided at amounts expected to be paid (or recoverable) 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 April 2021 |
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At 31 March 2022 |
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Carrying value at 31 March 2022 |
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Carrying value at 31 March 2021 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 31.03.2022 |
Ownership 31.03.2021 |
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The Forge, 122 Millshaw Lane, Leeds, West Yorkshire, LS11 8LZ | Bespoke software services |
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The Forge, 122 Millshaw Lane, Leeds, West Yorkshire, LS11 8LZ | Dormant |
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2022 | 2021 | ||
£ | £ | ||
Amounts owed by Group undertakings (note 7) |
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2022 | 2021 | ||
£ | £ | ||
Corporation tax |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
The Ultimate controlling party are collectively the Trustees of the Bluesmith Employee Ownership Trust which owns 76.74% of the share capital of the company.