Assetblue Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05089413

Assetblue Limited

Filleted Unaudited Financial Statements

30 April 2021

Assetblue Limited

Statement of Financial Position

30 April 2021

	2021		2020
Note	£	£	£

Fixed assets

Investments	5		10,495	10,495

Current assets

Debtors	6	12,414,772	11,664,184
Cash at bank and in hand		1,021,109	5,021,666
		-------------	-------------
		13,435,881	16,685,850

Creditors: amounts falling due within one year	7	13,445,484		16,354,848
		-------------		-------------
Net current (liabilities)/assets			( 9,603)	331,002
			--------	---------
Total assets less current liabilities			892	341,497
			----	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	891	341,496
	----	---------
Shareholders funds	892	341,497
	----	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 July 2022 , and are signed on behalf of the board by:

Mrs D Feldman

Director

Company registration number: 05089413

Assetblue Limited

Notes to the Financial Statements

Year ended 30 April 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

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 entity after deducting all of its financial liabilities.

4. Tax on (loss)/profit

Group relief receipt

5. Investments

	Other investments other than loans
	£
Cost
At 1 May 2020 and 30 April 2021	10,495
	--------
Impairment
At 1 May 2020 and 30 April 2021	–
	--------

Carrying amount
At 30 April 2021	10,495
	--------
At 30 April 2020	10,495
	--------

6. Debtors

	2021	2020
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	12,414,755	11,663,779
Other debtors	17	405
	-------------	-------------
	12,414,772	11,664,184
	-------------	-------------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	13,413,314	16,322,711
Corporation tax	3,378	3,378
Other creditors	28,792	28,759
	-------------	-------------
	13,445,484	16,354,848
	-------------	-------------

8. Related party transactions

The ultimate parent company is Inremco 26 Limited, which is registered in England and Wales. The largest group in which the results of the company are consolidated is that headed by Inremco 26 Limited. The smallest group in which the results of the company are consolidated is that headed by Assetblue Holdings Limited. The consolidated accounts of the group are available to the public at the company's registered office namely Hallswelle House, 1 Hallswelle Road, London NW11 0DH. The company has taken advantage of the exemption in Financial Reporting Standard No 8 from disclosing transactions with related parties that are part of the Inremco 26 Limited group and investees of that group.

9. Controlling party

The ultimate holding company is Inremco 26 Ltd, a company incorporated in United Kingdom.