Blues Property Levada 2 Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08713699 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2017

FOR

BLUES PROPERTY LEVADA 2 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S B Moore

I Purkiss

REGISTERED OFFICE:

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

REGISTERED NUMBER:

08713699 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

CURRENT ASSETS

Stocks

1,631,691

75,731

Debtors

3

406,475

346,677

Cash at bank

724

-

2,038,890

422,408

CREDITORS

Amounts falling due within one year

4

(1,804,198

)

(159,657

)

NET CURRENT ASSETS

234,692

262,751

TOTAL ASSETS LESS CURRENT LIABILITIES

234,692

262,751

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

234,592

262,651

SHAREHOLDERS' FUNDS

234,692

262,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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 15 December 2017 and were signed on its behalf by:

I Purkiss - Director

S B Moore - Director

1.	STATUTORY INFORMATION

Blues Property Levada 2 Ltd 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

406,475

346,677

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

597,160

-

Trade creditors

1,200

5,117

Taxation and social security

-

141,273

Other creditors

1,205,838

13,267

1,804,198

159,657

5.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

597,160

-

The bank loan in other creditors is secured by a fixed charge over the property in development.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 March 2017 and the period

ended 30 March 2016:

2017

2016

£

£

S B Moore

Balance outstanding at start of year

-

89,179

Amounts repaid

(110,000

)

(89,179

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(110,000

)

-

7.	ULTIMATE CONTROLLING PARTY

The company is under the control by the directors, My I Purkiss and Mr S Moore.

8.	FIRST YEAR ADOPTION

The transition to FRS 102A has not resulted in any changes to accounting policy selection, the recognition,

measurement or presentation of assets, liabilities or classification and presentation of income and expenditure in

relation to the year ended 30th March 2016. As such the reported profit has remained unchanged.

Transitional relief

The company has taken advantage under Section 35.10 paragraph v of FRS 102 not to restate comparative

financial information regarding financing transactions in so far as they relate to Related Party Transactions, as

the company qualified as small during the current and previous financial year.