Cool Blue Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10658202 (England and Wales)

Financial Statements for the Year Ended 31 March 2019

for

Cool Blue Developments Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D M Hewitson

Mrs E A Hewitson

REGISTERED OFFICE:

71 Duke Street

Darlington

Co. Durham

DL3 7SD

REGISTERED NUMBER:

10658202 (England and Wales)

ACCOUNTANTS:

Chrichard & Co

23 Woodland Road

Darlington

Co. Durham

DL3 7BJ

FIXED ASSETS

Tangible assets

4

6,450

-

Investment property

5

6,440,846

-

6,447,296

-

CURRENT ASSETS

Debtors

152

2

Cash at bank and in hand

31,049

-

31,201

2

CREDITORS

Amounts falling due within one year

180,246

-

NET CURRENT (LIABILITIES)/ASSETS

(149,045

)

2

TOTAL ASSETS LESS CURRENT LIABILITIES

6,298,251

2

CREDITORS

Amounts falling due after more than one year

(3,379,807

)

-

PROVISIONS FOR LIABILITIES

7

(6,807

)

-

NET ASSETS

2,911,637

2

CAPITAL AND RESERVES

Called up share capital

8

2,875,000

2

Fair value reserve

9

35,824

-

Retained earnings

813

-

SHAREHOLDERS' FUNDS

2,911,637

2

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 November 2019 and were signed on its behalf by:

D M Hewitson - Director

Mrs E A Hewitson - Director

1.	STATUTORY INFORMATION

Cool Blue Developments 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

8,500

At 31 March 2019

8,500

DEPRECIATION

Charge for year

2,050

At 31 March 2019

2,050

NET BOOK VALUE

At 31 March 2019

6,450

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

6,405,022

Revaluations

35,824

At 31 March 2019

6,440,846

NET BOOK VALUE

At 31 March 2019

6,440,846

Fair value at 31 March 2019 is represented by:

£

Valuation in 2019

6,440,846

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

3,426,607

-

The bank loans are secured with fixed and floating charges over all the property and undertakings of the

company.

7.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Other timing differences

6,807

-

Deferred

tax

£

Provided during year

6,807

Balance at 31 March 2019

6,807

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2,875,000

Ordinary

£1.00

2,875,000

2

2,874,998 Ordinary shares of £1.00 each were allotted and fully paid for cash at par during the year.

9.

RESERVES

Fair

value

reserve

£

Revaluation of investment

properties

35,824

At 31 March 2019

35,824