Blue House Property Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 04378574 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

BLUE HOUSE PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

T E Clark

Mrs C M J Clark

Registered office:

Tudor House

Greenclose Lane

Loughborough

Leicestershire

LE11 5AS

Registered number:

04378574 (England and Wales)

Accountants:

Sturgess Hutchinson

Chartered Certified Accountants

10 Station Road

Earl Shilton

Leicester

LE9 7GA

Bankers:

Lloyds Bank Plc

37-38 High Street

Loughborough

Leicestershire

LE11 2QG

Fixed assets

Tangible assets

3

4,837

2,596

Investment property

4

1,000,020

1,000,020

1,004,857

1,002,616

Current assets

Debtors

5

99,817

120,378

Cash at bank

66,287

38,502

166,104

158,880

Creditors

Amounts falling due within one year

6

10,582

8,747

Net current assets

155,522

150,133

Total assets less current liabilities

1,160,379

1,152,749

Creditors

Amounts falling due after more than one year

7

701,940

701,940

Net assets

458,439

450,809

Capital and reserves

Called up share capital

9

199

199

Revaluation reserve

10

353,305

353,305

Retained earnings

10

104,935

97,305

Shareholders' funds

458,439

450,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 November 2017 and were signed on its behalf by:

T E Clark - Director

1.	Statutory information

Blue House Property Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising

from changes in fair value is recognised in profit or loss.

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 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.

3.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 29 February 2016

39,106

Additions

4,631

At 28 February 2017

43,737

Depreciation

At 29 February 2016

36,510

Charge for year

2,390

At 28 February 2017

38,900

Net book value

At 28 February 2017

4,837

At 28 February 2016

2,596

4.	Investment property

Total

£

Fair value

At 29 February 2016

and 28 February 2017

1,000,020

Net book value

At 28 February 2017

1,000,020

At 28 February 2016

1,000,020

5.

Debtors: amounts falling due within one year

2017

2016

£

£

Amounts owed by participating interests

59,749

59,749

Other debtors

40,068

60,629

99,817

120,378

6.

Creditors: amounts falling due within one year

2017

2016

£

£

Taxation and social security

10,032

7,647

Other creditors

550

1,100

10,582

8,747

7.

Creditors: amounts falling due after more than one year

2017

2016

£

£

Bank loans

701,940

701,940

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

701,940

701,940

8.	Secured debts

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

701,940

701,940

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

199

Ordinary

£1

199

199

10.

Reserves

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 29 February 2016

97,305

353,305

450,610

Profit for the year

133,630

133,630

Dividends

(126,000

)

(126,000

)

At 28 February 2017

104,935

353,305

458,240

11.	Directors' advances, credits and guarantees

Included in other debtors are amounts due from T E Clark of £21,034 (2016 - £41,595).

12.	Ultimate controlling party

The controlling party is T E Clark.