Blue_Tower_Services_Ltd_31_Mar_2023_companies_house_set_of_accounts.html
Blue_Tower_Services_Ltd_31_Mar_2023_companies_house_set_of_accounts.html
Company registration number:
Statement of Financial Position
| 2023 | 2022 | ||||
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| Note | £ | £ | |||
| Fixed assets | |||||
| Intangible assets | 5 |
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| Tangible assets | 6 |
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| Current assets | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | 8 |
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| Net current liabilities |
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| Total assets less current liabilities | 326,124 | 424,070 | |||
| Creditors: amounts falling due after more than one year | 9 |
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| Provisions for liabilities |
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| Net assets |
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For the year ending 31 March 2023 , 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 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.
These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:
| Director |
Company registration number:
11842368
Notes to the Financial Statements
Year ended 31 March 2023
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 4 Town Hall Street , Grimsby , North East Lincolnshire , DN31 1HN , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Intangible assets
Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Goodwill |
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Plant and machinery | |
| Motor vehicles | |
| Office equipment |
Government grants
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.
Defined contribution pension plan
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4 Average number of employees
The average number of persons employed by the company during the year was 31 (2022: 47.00 ).
5 Intangible assets
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6 Tangible assets
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7 Debtors
| 2023 | 2022 | |||
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| £ | £ | |||
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8 Creditors: amounts falling due within one year
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| £ | £ | |||
| Bank loans and overdrafts |
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| Trade creditors |
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| Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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| Taxation and social security |
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| Other creditors |
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Hire purchase agreements and finance leases are secured on the assets to which they relate.
9 Creditors: amounts falling due after more than one year
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| £ | £ | |||
| Bank loans and overdrafts |
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| Other creditors |
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Hire purchase agreements and finance leases are secured on the assets to which they relate.