Company registration number 00785147 (England and Wales)
BLISTEX LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
BLISTEX LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
BLISTEX LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
5
2,077,994
1,005,604
Cash at bank and in hand
2,294
2,294
2,080,288
1,007,898
Creditors: amounts falling due within one year
6
(1,206,426)
(967,254)
Net current assets
873,862
40,644
Net assets
873,862
40,644
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
873,762
40,544
Total equity
873,862
40,644

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
J Arch
Director
Company registration number 00785147 (England and Wales)
BLISTEX LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2021
100
(182,741)
(182,641)
Year ended 31 December 2021:
Profit and total comprehensive income
-
223,285
223,285
Balance at 31 December 2021
100
40,544
40,644
Year ended 31 December 2022:
Profit and total comprehensive income
-
833,218
833,218
Balance at 31 December 2022
100
873,762
873,862
BLISTEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Blistex Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Pilgrim Street, London, EC4V 6LB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company trueis reliant on the support of its parent company to continue to trade for the foreseeable future. The directors have reviewed the trading and cash flow forecasts of the company and concluded that based on the forecast results, taking into account the confirmation from its parent company that it will continue to support the company in order that it can meet its working capital requirements for the foreseeable future, it is appropriate to prepare these financial statements on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets comprise the costs of trademark acquisition and subsequent expenditure incurred including, where necessary, obtaining regulatory approval.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Trademarks
Straight line over 10 years
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BLISTEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

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 instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BLISTEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
2
2
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1,562,095
640,489
Corporation tax recoverable
13,064
156,135
Other debtors
502,835
208,980
2,077,994
1,005,604
- 6 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
-
0
361,224
Amounts owed to group undertakings
997,657
466,337
Taxation and social security
-
0
45,583
Other creditors
208,769
94,110
1,206,426
967,254
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
James Wooldridge MSci FCA
Statutory Auditor:
Mercer & Hole LLP
8
Related party transactions

The company has taken advantage of the exemption made available under FRS 102, paragraph 33.1A to not disclose details of transactions and balances between entities that are wholly owned by the group of which the company is a member.

9
Parent company

The parent undertaking of the smallest group of undertakings for which group financial statements are drawn up and of which the company is a member is Blistex Inc, whose registered office is 1800 Swift Drive, Oak Brook, IL 60523-1574, USA.

2022-12-312022-01-01false29 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedJ ArchT Sardone007851472022-01-012022-12-31007851472022-12-31007851472021-12-3100785147core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3100785147core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3100785147core:CurrentFinancialInstruments2022-12-3100785147core:CurrentFinancialInstruments2021-12-3100785147core:ShareCapital2022-12-3100785147core:ShareCapital2021-12-3100785147core:RetainedEarningsAccumulatedLosses2022-12-3100785147core:RetainedEarningsAccumulatedLosses2021-12-3100785147core:ShareCapital2020-12-3100785147core:RetainedEarningsAccumulatedLosses2020-12-3100785147bus:Director12022-01-012022-12-3100785147core:RetainedEarningsAccumulatedLosses2021-01-012021-12-31007851472021-01-012021-12-3100785147core:RetainedEarningsAccumulatedLosses2022-01-012022-12-3100785147core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3100785147core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-01-012022-12-3100785147core:WithinOneYear2022-12-3100785147core:WithinOneYear2021-12-3100785147bus:PrivateLimitedCompanyLtd2022-01-012022-12-3100785147bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3100785147bus:FRS1022022-01-012022-12-3100785147bus:Audited2022-01-012022-12-3100785147bus:Director22022-01-012022-12-3100785147bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP