Blue House Property Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04378574 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018

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

3,344

4,837

Investments

4

200

200

Investment property

5

1,090,000

1,000,020

1,093,544

1,005,057

Current assets

Debtors

6

126,545

99,617

Cash at bank

32,094

66,287

158,639

165,904

Creditors

Amounts falling due within one year

7

7,288

10,582

Net current assets

151,351

155,322

Total assets less current liabilities

1,244,895

1,160,379

Creditors

Amounts falling due after more than one year

8

701,940

701,940

Net assets

542,955

458,439

Capital and reserves

Called up share capital

11

199

199

Fair value reserve

12

443,284

353,305

Retained earnings

12

99,472

104,935

Shareholders' funds

542,955

458,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 27 November 2018 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 as modified by the revaluation of certain assets.

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 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 1 March 2017

and 28 February 2018

43,737

Depreciation

At 1 March 2017

38,900

Charge for year

1,493

At 28 February 2018

40,393

Net book value

At 28 February 2018

3,344

At 28 February 2017

4,837

4.	Fixed asset investments

Interest

in other

participating

interests

£

Cost

At 1 March 2017

and 28 February 2018

200

Net book value

At 28 February 2018

200

At 28 February 2017

200

5.	Investment property

Total

£

Fair value

At 1 March 2017

1,000,020

Revaluations

89,980

At 28 February 2018

1,090,000

Net book value

At 28 February 2018

1,090,000

At 28 February 2017

1,000,020

Fair value at 28 February 2018 is represented by:

£

Valuation in 2018

1,090,000

6.

Debtors: amounts falling due within one year

2018

2017

as restated

£

£

Amounts owed by participating interests

58,049

59,549

Other debtors

68,496

40,068

126,545

99,617

7.

Creditors: amounts falling due within one year

2018

2017

as restated

£

£

Taxation and social security

6,538

10,032

Other creditors

750

550

7,288

10,582

8.

Creditors: amounts falling due after more than one year

2018

2017

as restated

£

£

Bank loans (see note 9)

701,940

701,940

2018

2017

as restated

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

701,940

701,940

9.

Loans

An analysis of the maturity of loans is given below:

2018

2017

as restated

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

701,940

701,940

10.	Secured debts

The following secured debts are included within creditors:

2018

2017

as restated

£

£

Bank loans

701,940

701,940

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

as restated

£

£

199

Ordinary

£1

199

199

12.

Reserves

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 March 2017

104,935

353,305

458,240

Profit for the year

120,537

120,537

Dividends

(126,000

)

(126,000

)

Fair value reserve movements

-

89,979

89,979

At 28 February 2018

99,472

443,284

542,756

13.	Directors' advances, credits and guarantees

Included in other debtors are amounts due from T E Clark of £49,262 (2017 - £21,034).

14.	Ultimate controlling party

The controlling party is T E Clark.