Company Registration No. 11679069 (England and Wales)
BLUE HORIZON (PERSHORE 2) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2019
PAGES FOR FILING WITH REGISTRAR
BLUE HORIZON (PERSHORE 2) LIMITED
COMPANY INFORMATION
Director
Mr S G Byrne
(Appointed 15 November 2018)
Company number
11679069
Registered office
25 Sheepcote Street
Birmingham
West Midlands
B16 4AE
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BLUE HORIZON (PERSHORE 2) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
BLUE HORIZON (PERSHORE 2) LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BLUE HORIZON (PERSHORE 2) LIMITED FOR THE PERIOD ENDED 28 FEBRUARY 2019
- 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 2) Limited for the period ended 28 February 2019 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 2) 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 2) Limited
and state those matters that we have agreed to state to the Board of Directors of Blue Horizon (Pershore 2) 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 2) 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 2) 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 profit of Blue Horizon (Pershore 2) Limited. You consider that Blue Horizon (Pershore 2) Limited is exempt from the statutory audit
requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Blue Horizon (Pershore 2) 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
28 November 2019
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BLUE HORIZON (PERSHORE 2) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2019
28 February 2019
- 2 -
2019
Notes
£
£
Current assets
Stocks
270,000
Creditors: amounts falling due within one year
3
(170,386)
Net current assets
99,614
Capital and reserves
Called up share capital
4
10
Profit and loss reserves
99,604
Total equity
99,614
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 period 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 and signed by the director and authorised for issue on 28 November 2019.
Mr S G Byrne
Director
Company Registration No. 11679069
BLUE HORIZON (PERSHORE 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2019
- 3 -
1
Accounting policies
Company information
Blue Horizon (Pershore 2) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
25 Sheepcote Street, Birmingham, West Midlands, B16 4AE.
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
Reporting period
During the period, the company shortened its accounting reference date from 30 November 2019 to 28 February 2019.
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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BLUE HORIZON (PERSHORE 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2019
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 1.
3
Creditors: amounts falling due within one year
2019
£
Amounts owed to group undertakings
169,990
Other creditors
396
170,386
BLUE HORIZON (PERSHORE 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2019
- 5 -
4
Called up share capital
2019
£
Ordinary share capital
Issued and fully paid
10 Ordinary of £1 each
10
10
10 Ordinary shares of £1 were allotted during the period.
5
Secured debts
Security has been given over the assets of the company in respect of bank loans made to Blue Horizon (Pershore) Limited, the holding company.
6
Comparatives
This is the company's first period of trade and therefore there are no comparatives.