Blue Ridge Designs Limited - Period Ending 2017-03-31

Registration number: 05732243

Blue Ridge Designs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Manningtons Ltd
39 High Street
Battle
East Sussex
TN33 0EE

Blue Ridge Designs Limited

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 to 8

Blue Ridge Designs Limited

Company Information

Director

Mervyn Spates

Registered office

Glaziers Forge Farm Forge Lane Dallington East Sussex TN21 9JJ

Accountants

Manningtons Ltd 39 High Street Battle East Sussex TN33 0EE

Page 1

Blue Ridge Designs Limited

(Registration number: 05732243)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	1,304	427
Current assets
Debtors	5	57,893	49,462
Creditors: Amounts falling due within one year	6	(38,910)	(37,449)
Net current assets		18,983	12,013
Total assets less current liabilities		20,287	12,440
Creditors: Amounts falling due after more than one year	6	(19,601)	(11,896)
Net assets		686	544
Capital and reserves
Called up share capital		1	1
Profit and loss account		685	543
Total equity		686	544

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 December 2017
 

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

Mervyn Spates

Director

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Blue Ridge Designs Limited

Statement of Changes in Equity for the Year Ended 31 March 2017

	Share capital £	Profit and loss account £	Total £
At 1 April 2016	1	543	544
Profit for the year	-	28,342	28,342
Total comprehensive income	-	28,342	28,342
Dividends	-	(28,200)	(28,200)
At 31 March 2017	1	685	686

	Share capital £	Profit and loss account £	Total £
At 1 April 2015	1	300	301
Profit for the year	-	24,243	24,243
Total comprehensive income	-	24,243	24,243
Dividends	-	(24,000)	(24,000)
At 31 March 2016	1	543	544

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

Blue Ridge Designs Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Glaziers Forge Farm Forge Lane
Dallington
East Sussex
TN21 9JJ

The principal place of business is:
Studio 51
Vinehall Business Centre
Robertsbridge
East Sussex
TN32 5JW

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Page 4

Blue Ridge Designs Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 2).

Page 5

Blue Ridge Designs Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

4	Tangible assets

	Fixtures, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2016	3,512	3,512
Additions	1,312	1,312
At 31 March 2017	4,824	4,824
Depreciation
At 1 April 2016	3,084	3,084
Charge for the year	436	436
At 31 March 2017	3,520	3,520
Carrying amount
At 31 March 2017	1,304	1,304
At 31 March 2016	427	427

5

Debtors

	Note	2017 £	2016 £
Trade debtors		9,011	7,647
Amount owed by associated company	8	356	356
Other debtors		48,526	41,459
Total current trade and other debtors		57,893	49,462

Page 6

Blue Ridge Designs Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

6

Creditors

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts		14,112	13,524
Trade creditors		-	588
Taxation and social security		23,021	21,145
Other creditors		1,777	2,192
		38,910	37,449
Due after one year
Loans and borrowings		19,601	11,896

7

Dividends

	2017	2016
	£	£
Interim dividend of £28,200.00 (2016 - £24,000.00) per ordinary share	28,200	24,000

Page 7

Blue Ridge Designs Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

8	Related party transactions

Transactions with directors

2017	At 1 April 2016 £	Advances to directors £	Repayments by director £	At 31 March 2017 £
Mervyn Spates
Loan - M Spates	35,727	50,401	(48,502)	37,626

2016	At 1 April 2015 £	Advances to directors £	Repayments by director £	At 31 March 2016 £
Mervyn Spates
Loan - M Spates	17,528	58,077	(39,878)	35,727

Summary of transactions with associates

Willingford Homes Limited - Associated company
 At the balance sheet date the amount due from Willingford Homes Limited was £356 (2016 - £356).
 

Page 8