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REGISTERED NUMBER: 07399667 (England and Wales)















BLC (WALES) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






BLC (WALES) LTD (REGISTERED NUMBER: 07399667)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLC (WALES) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: M P John
L M Harris





SECRETARY: L M Harris





REGISTERED OFFICE: TramShed Tech
Pendyris Street
CARDIFF
County of Cardiff
CF11 6BH





REGISTERED NUMBER: 07399667 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

BLC (WALES) LTD (REGISTERED NUMBER: 07399667)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 130,500 128,564

CURRENT ASSETS
Stocks 20,000 120,000
Debtors 5 245,502 156,859
265,502 276,859
CREDITORS
Amounts falling due within one year 6 (424,867 ) (327,746 )
NET CURRENT LIABILITIES (159,365 ) (50,887 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,865

)

77,677

CREDITORS
Amounts falling due after more than one
year

7

(94,711

)

(126,391

)
NET LIABILITIES (123,576 ) (48,714 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (123,676 ) (48,814 )
SHAREHOLDERS' FUNDS (123,576 ) (48,714 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:



L M Harris - Director



M P John - Director


BLC (WALES) LTD (REGISTERED NUMBER: 07399667)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Blc (Wales) 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 company's functional and presentational currency in the financial statements is the Sterling (£) ,rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Going concern
At 31 March 2022 the company had net liabilities of £123,576. However the going concern basis of preparation of the financial statements is considered appropriate as the company is continued to be supported by the directors and there is a pipeline of new contracts after the year end.

The directors are satisfied that despite the Coronavirus pandemic, it is appropriate for the company's financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising and the directors have taken steps to minimise the effect on the company and will continue to do so. In the circumstances they have concluded that no adjustments are required to the financial statements at this time.

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.
Improvements to property - 10% on cost
Fixtures and Fittings - 20% on cost
Computer equipment - 25% on reducing balance

Stocks
Stock has been estimated by the directors.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

BLC (WALES) LTD (REGISTERED NUMBER: 07399667)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

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.

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Amounts to be billed
Services provided to clients during the financial period, which at the balance sheet date have not been billed have been recognised as sales. Sales recognised in this manner are based on an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of sales.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property Fittings equipment Totals
£    £    £    £   
COST
At 1 April 2021 91,686 25,929 114,851 232,466
Additions 12,579 - 373 12,952
At 31 March 2022 104,265 25,929 115,224 245,418
DEPRECIATION
At 1 April 2021 - 12,370 91,532 103,902
Charge for year - 5,186 5,830 11,016
At 31 March 2022 - 17,556 97,362 114,918
NET BOOK VALUE
At 31 March 2022 104,265 8,373 17,862 130,500
At 31 March 2021 91,686 13,559 23,319 128,564

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 131,833 81,242
Other debtors 437 463
Corporation tax 33,660 32,743
Prepayments and accrued income 79,572 42,411
245,502 156,859

BLC (WALES) LTD (REGISTERED NUMBER: 07399667)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank overdraft 35,655 32,150
Trade creditors 7,424 4,362
Social security and other taxes 89,852 78,323
VAT 28,599 17,710
Other loans 58,023 56,895
Amounts owed to related party 76,963 50,000
Directors' current accounts 107,486 86,304
Accruals and deferred income 20,865 2,002
424,867 327,746

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 10,000 9,702
Bank loans - 2-5 years 28,535 30,638
Bank loans > 5 years - 1,769
Other loans 56,176 84,282
94,711 126,391

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years - 1,769

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 ordinary £1 100 100

9. OTHER FINANCIAL COMMITMENTS

Total amount of commitments, guarantees and contingencies is £68,557 (2021 - £109.130) in respect of operating leases.