Blu Family Office Limited - Accounts to registrar (filleted) - small 23.1.2
Blu Family Office Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| FOR |
| BLU FAMILY OFFICE LIMITED |
| BLU FAMILY OFFICE LIMITED (REGISTERED NUMBER: 09580739) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 April 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BLU FAMILY OFFICE LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 April 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| One Eastwood |
| Harry Weston Road |
| Binley Business Park |
| Coventry |
| CV3 2UB |
| BLU FAMILY OFFICE LIMITED (REGISTERED NUMBER: 09580739) |
| BALANCE SHEET |
| 30 April 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 |
| BLU FAMILY OFFICE LIMITED (REGISTERED NUMBER: 09580739) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 April 2023 |
| 1. | STATUTORY INFORMATION |
| Blu Family Office Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company has a satisfactory capital position and as a consequence the directors believe that the company is well placed to manage its business risks successfully. The directors have prepared a forecast for the year ahead and based on this have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they adopt the going concern basis in the preparing the financial statements. |
| Turnover |
| Revenue represents fees receivable (net of value added tax) during the year for investment management services. Management fees are recognised when receivable. Performance fees, which are based on the investment performance achieved for certain client portfolios relative to predefined benchmarks, are recognised as revenue at the end of the period over which the performance is measured. |
| Tangible fixed assets |
| Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management. |
| Depreciation is provided on the cost of tangible assets in equal annual instalments over their estimated useful lives, which are as follows : |
| Fixtures and fittings | - 3 years |
| Computers | - 3 years |
| Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place. |
| Financial instruments |
| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset in measured at the present value of the future receipts discounted at a market rate of interest. |
| BLU FAMILY OFFICE LIMITED (REGISTERED NUMBER: 09580739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2023 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. |
| The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds. |
| Leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| BLU FAMILY OFFICE LIMITED (REGISTERED NUMBER: 09580739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2022 |
| Additions |
| At 30 April 2023 |
| DEPRECIATION |
| At 1 May 2022 |
| Charge for year |
| At 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Accruals and deferred income |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | 1p | 5,369 | 2,629 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| BLU FAMILY OFFICE LIMITED (REGISTERED NUMBER: 09580739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2023 |
| 10. | FINANCIAL COMMITMENTS |
| Financial commitments and guarantees in respect of operating leases for property and office equipment, which are not included in the balance sheet, amount to £70,500 (2022 £21,276) in total. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is not under the overall control of any one individual. |