Blue Sword Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC426563 (Scotland)

Financial Statements

for the Year Ended 31 July 2021

for

BLUE SWORD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Sheriff

Ms R Humphries

Mr J I Lermer

REGISTERED OFFICE:

1 Cambuslang Court

Glasgow

G32 8FH

REGISTERED NUMBER:

SC426563 (Scotland)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

1,892

2,444

CURRENT ASSETS

Debtors

5

15,169

34,488

Cash at bank

3,187

58,540

18,356

93,028

CREDITORS

Amounts falling due within one year

6

86,491

83,705

NET CURRENT (LIABILITIES)/ASSETS

(68,135

)

9,323

TOTAL ASSETS LESS CURRENT LIABILITIES

(66,243

)

11,767

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(66,343

)

11,667

SHAREHOLDERS' FUNDS

(66,243

)

11,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2022 and were signed on its behalf by:

Mr R Sheriff - Director

1.	STATUTORY INFORMATION

Blue Sword Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2020

1,048

6,372

7,420

Additions

-

1,672

1,672

Disposals

-

(6,372

)

(6,372

)

At 31 July 2021

1,048

1,672

2,720

DEPRECIATION

At 1 August 2020

272

4,704

4,976

Charge for year

116

440

556

Eliminated on disposal

-

(4,704

)

(4,704

)

At 31 July 2021

388

440

828

NET BOOK VALUE

At 31 July 2021

660

1,232

1,892

At 31 July 2020

776

1,668

2,444

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

14,732

33,442

Amounts owed by group undertakings

-

90

Other debtors

437

956

15,169

34,488

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Other loans

40,661

41,000

Trade creditors

1,099

4,446

Amounts owed to group undertakings

25,708

-

Tax

(8,281

)

3,699

Social security and other taxes

8,219

439

Pension

580

113

VAT

12,189

20,154

Other creditors

5,003

-

Amex account

-

3,604

Accruals and deferred income

-

8,500

Accrued expenses

1,313

1,750

86,491

83,705

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.21

31.7.20

value:

£

£

9,000

A Ordinary

1p

90

90

1,000

B Ordinary

1p

10

10

100

100

8.	RELATED PARTY DISCLOSURES

At the balance sheet date, please note that an amount of £25,708 was owed to Marketing SPV LTD, a company where the director has common control.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Sheriff.