Bluezone Ins Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11468537 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2022

for

Bluezone Ins Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Dr C I Bracegirdle

Dr. K Mehta

REGISTERED OFFICE:

Labs House

Bloomsbury Way

London

WC1A 2TH

REGISTERED NUMBER:

11468537 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Intangible assets

4

70

90

Tangible assets

5

2,232

465

2,302

555

CURRENT ASSETS

Debtors

6

22,294

360

Cash at bank

1,272,733

144,967

1,295,027

145,327

CREDITORS

Amounts falling due within one year

7

(32,181

)

(7,994

)

NET CURRENT ASSETS

1,262,846

137,333

TOTAL ASSETS LESS CURRENT LIABILITIES

1,265,148

137,888

CAPITAL AND RESERVES

Called up share capital

9

417

287

Share premium

1,743,433

279,007

Retained earnings

(478,702

)

(141,406

)

SHAREHOLDERS' FUNDS

1,265,148

137,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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.

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 and authorised for issue on 29 March 2023 and were signed on its behalf by:

Dr. K Mehta - Director

1.	STATUTORY INFORMATION

Bluezone Ins 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for

its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment - 33% on cost

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.

Share capital

Ordinary shares are classed as equity.

Preference shares are classed as equity.

Deferred shares are classed as equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bankoverdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2021

and 31 July 2022

100

AMORTISATION

At 1 August 2021

10

Charge for year

20

At 31 July 2022

30

NET BOOK VALUE

At 31 July 2022

70

At 31 July 2021

90

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

974

Additions

2,341

At 31 July 2022

3,315

DEPRECIATION

At 1 August 2021

509

Charge for year

574

At 31 July 2022

1,083

NET BOOK VALUE

At 31 July 2022

2,232

At 31 July 2021

465

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Other debtors

22,294

360

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade creditors

15,199

346

Taxation and social security

13,934

2,445

Other creditors

3,048

5,203

32,181

7,994

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.22

31.7.21

£

£

Within one year

33,600

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

264,068

Ordinary

£0.001

265

287

116,362

Preference

£0.001

116

-

35,878

Deferred

£0.001

36

-

417

287

13,910 Ordinary shares of £0.001 each were allotted and fully paid for cash at par during the year.

116,362 Preference shares of £0.001 each were allotted as fully paid at a premium of £13.50 per share during the year.

During the year 35,878 Ordinary shares were reclassified to Deferred shares.

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 Bluezone Ins Ltd for the year ended 31 July 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Bluezone Ins Ltd, 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 Bluezone Ins Ltd and state those matters that we have agreed to state to the Board of Directors of Bluezone Ins Ltd, 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 Bluezone Ins Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bluezone Ins Ltd 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 loss of Bluezone Ins Ltd. You consider that Bluezone Ins Ltd 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 Bluezone Ins Ltd. 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.

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

29 March 2023