Blue Marmalade Limited Accounts

BLUE MARMALADE LIMITED - Company Information






Blue Marmalade Limited

	Company No. SC244397
		Information for Filing with The Registrar
		28 February 2023

The Director presents his report and the accounts for the year ended 28 February 2023.

Principal activities
The principal activity of the company during the year under review was provision of household goods.




Director

The Director who served at any time during the year was as follows:

T.B. Jennings







































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

T.B. Jennings
Director
29 November 2023

at	28 February 2023
Company No.		SC244397	Notes	2023	2022
				£	£
Fixed assets
	Intangible assets		4	352	410
	Tangible assets		5	72,379	76,208


				72,731	76,618
Current assets
	Stocks		6	13,111	13,295
	Debtors		7	24,989	17,306

	Cash at bank and in hand			4,197	6,646
				42,297	37,247
Creditors: Amount falling due within one year			8	(75,675)	(69,539)
Net current liabilities				(33,378)	(32,292)
Total assets less current liabilities				39,353	44,326
Creditors: Amounts falling due after more than one year			9	(32,941)	(36,848)
Provisions for liabilities
	Deferred taxation			(928)	-

Net assets				5,484	7,478

Capital and reserves
	Called up share capital			200	200



	Profit and loss account		11	5,284	7,278

Total equity				5,484	7,478



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 29 November 2023 and signed on its behalf by:
T.B. Jennings
Director
29 November 2023

for the year ended 28 February 2023

General information

Blue Marmalade Limited is a private company limited by shares and incorporated in Scotland.

Its registered number is: SC244397

Its registered office is:

36 Dalmeny Street

Edinburgh

EH6 8RG

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

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Freehold buildings

2% Straight line

Furniture, fittings and equipment

25% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Intangible fixed assets
			Patents and trade-marks	Total
			£	£
		Cost
		At 1 March 2022	3,615	3,615


		At 28 February 2023	3,615	3,615
		Amortisation and impairment
		At 1 March 2022	3,205	3,205
		Charge for the year	58	58


		At 28 February 2023	3,263	3,263
		Net book values
		At 28 February 2023	352	352
		At 28 February 2022	410	410

5	Tangible fixed assets
			Land and buildings	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 March 2022	79,547	38,998	118,545
		Additions	-	196	196



		At 28 February 2023	79,547	39,194	118,741
		Depreciation
		At 1 March 2022	10,485	31,852	42,337
		Charge for the year	1,568	2,457	4,025



		At 28 February 2023	12,053	34,309	46,362
		Net book values
		At 28 February 2023	67,494	4,885	72,379
		At 28 February 2022	69,062	7,146	76,208

6	Stocks
			2023	2022
			£	£
		Raw materials and consumables	2,914	2,775
		Work in progress	9,909	10,229
		Finished goods	288	291
			13,111	13,295

7	Debtors
			2023	2022
			£	£

		Amounts owed by group undertakings	16,966	14,746




		Other debtors	6,303	-
		Prepayments and accrued income	1,720	2,560
			24,989	17,306

8	Creditors:
		amounts falling due within one year
			2023	2022
			£	£

		Bank loans and overdrafts	4,758	5,032
		Other loans	1,100	1,100

		Trade creditors	11,431	5,910

		Taxes and social security	1,137	506
		Loans from directors	52,078	52,078

		Accruals and deferred income	5,171	4,913
			75,675	69,539

9	Creditors:
		amounts falling due after more than one year
			2023	2022
			£	£

		Bank loans and overdrafts	30,466	33,273
		Other loans	2,475	3,575





			32,941	36,848

Share Capital

200 Ordinary Shares of £1 each have been allocated, called up and fully paid.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.