Blue & Bad Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04527744 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

BLUE & BAD LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S A Rogers

D L Chasemore

B G Cundy

SECRETARY:

D L Chasemore

REGISTERED OFFICE:

11 Laura Place

Bath

Somerset

BA2 4BL

REGISTERED NUMBER:

04527744 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Blue & Bad Limited for the year ended 30 September 2017 which comprise the

Income Statement, Balance Sheet, and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Blue & Bad Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Blue & Bad Limited and state those matters that we have agreed to state to the Board of Directors of Blue & Bad Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue & Bad Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Blue & Bad Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Blue & Bad Limited. You consider that Blue & Bad 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 financial statements of Blue & Bad 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 financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

8 May 2018

FIXED ASSETS

Investment property

3

1,800,000

1,201,139

CURRENT ASSETS

Debtors

4

8,402

8,170

Cash at bank

26,108

65,053

34,510

73,223

CREDITORS

Amounts falling due within one year

5

28,391

128,404

NET CURRENT ASSETS/(LIABILITIES)

6,119

(55,181

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,806,119

1,145,958

CREDITORS

Amounts falling due after more than one year

6

-

(50,000

)

PROVISIONS FOR LIABILITIES

8

(101,806

)

-

NET ASSETS

1,704,313

1,095,958

CAPITAL AND RESERVES

Called up share capital

9

80

80

Retained earnings

1,704,233

1,095,878

SHAREHOLDERS' FUNDS

1,704,313

1,095,958

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 3 May 2018 and were signed on its behalf by:

D L Chasemore - Director

1.	STATUTORY INFORMATION

Blue & Bad 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax and is recognised as

rent is due.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

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 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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2016

1,201,139

Revaluations

598,861

At 30 September 2017

1,800,000

NET BOOK VALUE

At 30 September 2017

1,800,000

At 30 September 2016

1,201,139

Fair value at 30 September 2017 is represented by:

£

Valuation in 2017

1,800,000

The 2017 valuation is made by the Director of the company, on an open market value for existing use

basis.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

8,402

8,170

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

100,000

Taxation and social security

26,959

26,995

Other creditors

1,432

1,409

28,391

128,404

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

50,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

-

150,000

During the year Svenska Handelsbanken AB held a legal mortgage charge over all assets of the

Company and rents receivable related to the Property.

Svenska Handelsbanken AB held a debenture over all estates, interests and assets now or in the

future.

At the year end these debts were satisfied.

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

101,806

-

Deferred

tax

£

Provided during year

101,806

Balance at 30 September 2017

101,806

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

80

Ordinary

£1

80

80

10.	EMPLOYEES AND DIRECTORS

There are no employees, other than the directors.

11.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing

these financial statements.

12.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS102. There were

no changes on transition.