Registration number:
Bluesmith Technology Group Limited
for the Year Ended 31 March 2021
Bluesmith Technology Group Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Bluesmith Technology Group Limited
Company Information
Directors |
Mr M Weightman Mr T G Robinson Mr R J Smith Mr N F Warnock |
Company secretary |
Mrs S J Payne |
Registered office |
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Bluesmith Technology Group Limited
(Registration number: 07538415)
Balance Sheet as at 31 March 2021
Note |
2021 |
2020 |
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Fixed assets |
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Investments |
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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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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up and fully paid share capital |
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Capital redemption reserve |
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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 2021 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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
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Bluesmith Technology Group Limited
Statement of Changes in Equity for the Year Ended 31 March 2021
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2020 |
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- |
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Profit for the year |
- |
- |
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Purchase of own shares |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
Capital distribution to BEOT |
- |
- |
(528,308) |
(528,308) |
Transfers |
(204) |
204 |
- |
- |
At 31 March 2021 |
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- |
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Share capital |
Profit and loss account |
Total |
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At 1 April 2019 |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 March 2020 |
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Bluesmith Technology Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
General information |
The Company is a private company limited by share capital incorporated in England and Wales. Details of the registered office are shown on page 1.
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.
Basis of preparation
These financial statements have been prepared on a going concern basis, using the historical cost convention and in accordance with FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Group accounts not prepared
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 value added tax, returns, rebates and discounts and is recognised when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
Tax
The tax expense for the period comprises current 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.
Current income tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on timing differences between taxable profits and profits reported in the financial statements. Deferred tax is recognised on all timing differences at the reporting date and is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Bluesmith Technology Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
2 |
Accounting policies (continued) |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the Company’s shareholders is recognised in the financial statements in the reporting period in which the dividends are paid.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary and preference shares, which are measured at fair value provided that this can be measured reliably. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Bluesmith Technology Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Staff numbers |
The average number of persons employed by the company (including directors) in the year, was
Investments |
2021 |
2020 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2020 |
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Provision |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Bluesmith Technology Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
4 |
Investments (continued) |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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The Forge, 122 Millshaw, Leeds, West Yorkshire, LS11 8LZ England |
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The Forge, 122 Millshaw, Leeds, West Yorkshire, LS11 8LZ England |
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Subsidiary undertakings |
Bluesmith Information Systems Ltd The principal activity of Bluesmith Information Systems Ltd is |
Exgres Ltd The principal activity of Exgres Ltd is |
Debtors |
2021 |
2020 |
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Amounts owed by group undertakings |
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- |
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- |
Creditors |
2021 |
2020 |
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Due within one year |
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Taxation and social security |
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Bluesmith Technology Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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- |
- |
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27.50 |
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- |
- |
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27.50 |
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- |
- |
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5.00 |
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- |
- |
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20.00 |
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- |
- |
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20.00 |
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- |
- |
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204 |
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76.74 |
- |
- |
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23.26 |
- |
- |
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During the year the following amendments were made to share capital of the company:
On the 22 February 2021 the M Shares were purchased by the Company and then cancelled.
On the 23 February 2021 the A, B, C, D, and E Ordinary £0.10 shares were reclassified as £0.01 shares.
On the 23 February 2021 the B, C, D and E Ordinary £0.01 shares were reclassified as A Ordinary £0.01 shares.
On the 26 February 2021, 2326 A Ordinary £0.01 shares were reclassified as B Ordinary £0.01 shares.
Related party transactions |
The Company has taken the exemption set out in FRS 102 from disclosing transactions with wholly owned group members.
Control |
The ultimate controlling party is