Blue Hole Limited - Period Ending 2015-10-31

Registration number: 07416003

Blue Hole Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

MacMahon Leggate Chartered Accountants Charter House 18-20 Finsley Gate Burnley BB11 2HA

Blue Hole Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Blue Hole Limited
for the Year Ended 31 October 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blue Hole Limited for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Blue Hole Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blue Hole Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Hole Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Blue Hole Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blue Hole Limited. You consider that Blue Hole Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Blue Hole Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
Lancashire
BB11 2HA

29 February 2016

Page 1

Blue Hole Limited
(Registration number: 07416003)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					143			191
Current assets
Debtors					970			2,727
Cash at bank and in hand					10,250			-
					11,220			2,727
Creditors: Amounts falling due within one year					(11,068)			(2,328)
Net current assets					152			399
Net assets					295			590
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					195			490
Shareholders' funds					295			590

For the year ending 31 October 2015 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 29 February 2016

.........................................
Mr R Craig
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Blue Hole Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		549			549
At 31 October 2015		549			549
Depreciation
At 1 November 2014		358			358
Charge for the year		48			48
At 31 October 2015		406			406
Net book value
At 31 October 2015		143			143
At 31 October 2014		191			191

Page 3

Blue Hole Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr R Craig
During the year the director was in receipt of an interest free loan that was fully repaid within nine months of the year end	-	881	881	-

Page 4