Bleu Properties Ltd - Accounts to registrar (filleted) - small 18.2

Bleu Properties Ltd - Accounts to registrar (filleted) - small 18.2

BLEU PROPERTIES LTD - Company Information

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REGISTERED NUMBER: 05216620 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2021

for

Bleu Properties Ltd
Bleu Properties Ltd (Registered number: 05216620)






Contents of the Financial Statements
for the Year Ended 28 February 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Bleu Properties Ltd

Company Information
for the Year Ended 28 February 2021







DIRECTOR: A D Wormald





REGISTERED OFFICE: Suite 1 Buttershaw Works
Buttershaw Lane
Bradford
West Yorkshire
BD6 2DD





REGISTERED NUMBER: 05216620 (England and Wales)





ACCOUNTANT: Thompsons
Cold Bath Place
Harrogate
North Yorkshire
HG2 0PQ
Page 1
Bleu Properties Ltd (Registered number: 05216620)

Statement of Financial Position
28 February 2021

28.2.21 29.2.20
Notes £    £   
CURRENT ASSETS
Stocks 5 10,164,715 10,164,715
Debtors 6 1,290,038 695,080
Cash at bank and in hand 142,445 107,230
11,597,198 10,967,025
CREDITORS
Amounts falling due within one year 7 542,493 599,889
NET CURRENT ASSETS 11,054,705 10,367,136
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,054,705
10,367,136

CREDITORS
Amounts falling due after more than one
year
8
7,902,620
7,706,916
NET ASSETS 3,152,085 2,660,220

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 3,152,083 2,660,218
SHAREHOLDERS' FUNDS 3,152,085 2,660,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 August 2021 and were signed by:




A D Wormald - Director


The notes form part of these financial statements

Page 2
Bleu Properties Ltd (Registered number: 05216620)

Notes to the Financial Statements
for the Year Ended 28 February 2021

1. STATUTORY INFORMATION

Bleu Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The total turnover of the company has been obtained from property sales, rents and management fees earned wholly in the UK .

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 14 (2020 - 14 ) .

Page 3 continued...
Bleu Properties Ltd (Registered number: 05216620)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2021

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2020
and 28 February 2021 19,361 550 19,911
DEPRECIATION
At 1 March 2020
and 28 February 2021 19,361 550 19,911
NET BOOK VALUE
At 28 February 2021 - - -
At 29 February 2020 - - -

Cost or valuation at 28 February 2021 is represented by:

Plant and
machinery
etc
£   
Cost 19,911

.

5. STOCKS
28.2.21 29.2.20
£    £   
Stocks 10,164,715 10,164,715

28.2.21 28.2.20

Trading Properties at Cost 10,164,715 10,094,715

The replacement and the net realisable values of the stock, based on the market value at the year end , as assessed by external experts, have been reviewed by the director at £18,839,700 (2020: £17,127,499.)
The company has registered legal mortgages on its trading property at companies house in favour of Svenska Handelsbanken AB(PUBL).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.21 29.2.20
£    £   
Trade debtors 1,288,788 695,080
Other debtors 1,250 -
1,290,038 695,080

Page 4 continued...
Bleu Properties Ltd (Registered number: 05216620)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.21 29.2.20
£    £   
Bank loans and overdrafts 395,000 417,171
Trade creditors 21,854 23,195
Taxation and social security 120,550 53,104
Other creditors 5,089 106,419
542,493 599,889

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.21 29.2.20
£    £   
Bank loans 7,902,620 7,706,916

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,927,620 5,731,916

9. RESERVES
Retained
earnings
£   

At 1 March 2020 2,660,218
Profit for the year 491,865
At 28 February 2021 3,152,083

10. ULTIMATE CONTROLLING PARTY

At the year end, the company was a wholly owned subsidiary of ADW Holdings Ltd, a company registered in England and Wales. The whole group is deemed to be ultimately controlled by A D Wormald, director, by virtue of his majority shareholding in the ultimate parent company.

Page 5