Blue Mustard (Truro) Limited - Period Ending 2020-04-30

Blue Mustard (Truro) Limited

Balance Sheet

30 April 2020

	Note	2020 £	2019 £
Current assets
Cash at bank and in hand		4	4
Creditors: Amounts falling due within one year	3	(1,000,816)	(1,000,816)
Net liabilities		(1,000,812)	(1,000,812)
Capital and reserves
Called up share capital	4	200	200
Profit and loss account		(1,001,012)	(1,001,012)
Total equity		(1,000,812)	(1,000,812)

For the financial year ending 30 April 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 30 April 2021

......................................... R C Boon Director

Company Registration Number: 05533338

Blue Mustard (Truro) Limited

Notes to the Financial Statements

Year Ended 30 April 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hub Box
116 Kenwyn Street
Truro
Cornwall
TR1 3DJ

These financial statements were authorised for issue by the director on 30 April 2021.

2	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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. 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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Blue Mustard (Truro) Limited

Notes to the Financial Statements

Year Ended 30 April 2020

Financial instruments

Classification
The company holds the following financial instruments:

• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

 
 

3

Creditors

	2020 £	2019 £
Due within one year
Trade creditors	740	740
Social security and other taxes	11,612	11,612
Other creditors	988,314	988,314
Accruals	150	150
	1,000,816	1,000,816

4	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary A shares of £1 each	100	100	100	100
Ordinary B shares of £1 each	100	100	100	100
	200	200	200	200