Company Registration No. 07446636 (England and Wales)
Blou Ltd
Unaudited accounts
for the year ended 30 September 2021
Blou Ltd
Unaudited accounts
Contents
Blou Ltd
Company Information
for the year ended 30 September 2021
Directors
Mr B Walsh
Mrs L Walsh
Company Number
07446636 (England and Wales)
Registered Office
Highland House, Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR
England
Accountants
Hopper Williams & Bell Limited
Highland House
Mayflower Close
Chandlers Ford
Eastleigh
SO53 4AR
Blou Ltd
Statement of financial position
as at 30 September 2021
Tangible assets
45,142
11,759
Cash at bank and in hand
24,659
9,545
Creditors: amounts falling due within one year
(46,804)
(29,455)
Net current assets
46,114
15,212
Total assets less current liabilities
91,256
26,971
Creditors: amounts falling due after more than one year
(65,967)
(20,000)
Provisions for liabilities
Deferred tax
(8,577)
(2,234)
Called up share capital
2,000
2,000
Profit and loss account
14,712
2,737
Shareholders' funds
16,712
4,737
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2021 and were signed on its behalf by
Mr B Walsh
Director
Company Registration No. 07446636
Blou Ltd
Notes to the Accounts
for the year ended 30 September 2021
Blou Ltd is a private company, limited by shares, registered in England and Wales, registration number 07446636. The registered office is Highland House, Mayflower Close, Chandlers Ford, Eastleigh, Hampshire, SO53 4AR, England. The principal place of business is 2 The Boltons, Milford On Sea, Lymington, Hampshire, SO41 0PU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.
The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The directors have considered the impact and risk on the company of COVID-19 and the company's prospects, recognising the high degree of uncertainty. The directors have concluded that with the right management actions the company is a going concern for at least 12 months following the signature of the financial statements. Accordingly the directors have prepared the financial statements on this basis.
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 and depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.
Motor vehicles
25% Reducing balance
Fixtures & fittings
33.33% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Blou Ltd
Notes to the Accounts
for the year ended 30 September 2021
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 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.
Business Support Grant Funds: the accrual model has been used to recognise the grant when it is received or becomes receivable, as there are no future related costs or performance conditions.
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Blou Ltd
Notes to the Accounts
for the year ended 30 September 2021
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 October 2020
1,520
24,583
26,103
Additions
406
36,952
37,358
At 30 September 2021
1,926
61,535
63,461
At 1 October 2020
687
13,657
14,344
Charge for the year
474
3,501
3,975
At 30 September 2021
1,161
17,158
18,319
At 30 September 2021
765
44,377
45,142
At 30 September 2020
833
10,926
11,759
5
Debtors: amounts falling due within one year
2021
2020
Other debtors
67,359
35,122
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
6,845
-
Obligations under finance leases and hire purchase contracts
7,370
4,687
Taxes and social security
25,318
14,544
Other creditors
6,643
10,224
Loans from directors
628
-
Included within creditors are secured debts totaling £44,182 (2020: £4,687).
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
36,812
-
8
Average number of employees
During the year the average number of employees was 2 (2020: 2).
