Company Registration No. 10025642 (England and Wales)
BLUE HORIZON (PERSHORE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
PAGES FOR FILING WITH REGISTRAR
BLUE HORIZON (PERSHORE) LIMITED
COMPANY INFORMATION
Directors
Mr S G Byrne
Mrs L Marston-Weston
Company number
10025642
Registered office
25 Sheepcote Street
Birmingham
West Midlands
B16 8AB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank plc
148 High Street
Harbourne
Birmingham
B17 9PN
BLUE HORIZON (PERSHORE) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
BLUE HORIZON (PERSHORE) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BLUE HORIZON (PERSHORE) LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2018
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blue Horizon (Pershore) Limited for the year ended 28 February 2018 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Blue Horizon (Pershore) Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Blue Horizon (Pershore) Limited
and state those matters that we have agreed to state to the Board of Directors of Blue Horizon (Pershore) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Horizon (Pershore) Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Blue Horizon (Pershore) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of Blue Horizon (Pershore) Limited. You consider that Blue Horizon (Pershore) 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 financial statements of Blue Horizon (Pershore) 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 financial statements.
Ormerod Rutter Limited
16 November 2018
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BLUE HORIZON (PERSHORE) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2018
28 February 2018
- 2 -
2018
2017
Notes
£
£
£
£
Current assets
Stocks
751,432
483,536
Debtors
3
52,948
122,198
Cash at bank and in hand
125,400
367
929,780
606,101
Creditors: amounts falling due within one year
4
(1,028,649)
(653,306)
Net current liabilities
(98,869)
(47,205)
Capital and reserves
Called up share capital
5
10
10
Profit and loss reserves
(98,879)
(47,215)
Total equity
(98,869)
(47,205)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 16 November 2018 and are signed on its behalf by:
Mr S G Byrne
Director
Company Registration No. 10025642
BLUE HORIZON (PERSHORE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 3 -
1
Accounting policies
Company information
Blue Horizon (Pershore) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
25 Sheepcote Street, Birmingham, West Midlands, B16 8AB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion
and
whe
re
the
amount of revenue can be measured reliably.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Amounts due from group undertakings
52,260
121,500
Other debtors
688
698
52,948
122,198
BLUE HORIZON (PERSHORE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 4 -
4
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
842,021
489,281
Trade creditors
-
3,451
Amounts due to group undertakings
184,806
49,561
Other creditors
1,822
111,013
1,028,649
653,306
Bank loans are secured against the assets of the company.
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
10 Ordinary of £1 each
10
10