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Registration number: 02484738

Blockmart Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Blockmart Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Blockmart Limited

Company Information
__________________________________________________________________________

Director

Annabelle Archer

Company secretary

Edward Dalais Archer

Registered office

130 Camley Street
London
NW1 0PG


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Blockmart Limited

(Registration number: 02484738)
Balance Sheet as at 31 March 2023
__________________________________________________________________________

Note

2023
£

2022
£

   

     

fixed assets

   

 

tangible assets

3

 

565,941

 

565,941

Current assets

   

 

Cash at bank and in hand

 

9,843

 

7,020

 

Creditors: Amounts falling due within one year

4

(1,804)

 

(6,154)

 

Net current assets

   

8,039

 

866

Net assets

   

573,980

 

566,807

capital and reserves

   

 

Called up share capital

100

 

100

 

Revaluation reserve

485,804

 

485,804

 

Profit and loss account

88,076

 

80,903

 

Total equity

   

573,980

 

566,807

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 October 2023
 

.........................................
Annabelle Archer
Director

 

Blockmart Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

15%RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Blockmart Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
__________________________________________________________________________

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

563,004

15,406

578,410

At 31 March 2023

563,004

15,406

578,410

Depreciation

At 1 April 2022

-

12,469

12,469

At 31 March 2023

-

12,469

12,469

Carrying amount

At 31 March 2023

563,004

2,937

565,941

At 31 March 2022

563,004

2,937

565,941

Included within the net book value of land and buildings above is £563,004 (2022 - £563,004) in respect of freehold land and buildings.
 

 

Blockmart Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
__________________________________________________________________________

4

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors current account

419

419

Other creditors

 

1,385

5,735

 

1,804

6,154

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ortdinary share capital of £1 each

100

100

100

100