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REGISTERED NUMBER: 10651040 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

BLACKVEIN CIRCUITS LIMITED

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,735 27,350

CURRENT ASSETS
Debtors 5 179,422 204,775
Cash at bank 201,845 176,600
381,267 381,375
CREDITORS
Amounts falling due within one year 6 120,709 116,554
NET CURRENT ASSETS 260,558 264,821
TOTAL ASSETS LESS CURRENT LIABILITIES 297,293 292,171

CREDITORS
Amounts falling due after more than one
year

7

(64,912

)

(73,190

)

PROVISIONS FOR LIABILITIES - (6,154 )
NET ASSETS 232,381 212,827

CAPITAL AND RESERVES
Called up share capital 9 110 110
Retained earnings 232,271 212,717
SHAREHOLDERS' FUNDS 232,381 212,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Balance Sheet - continued
31 March 2023


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 by the director and authorised for issue on 9 November 2023 and were signed by:





Mr I Jeremiah - Director


BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

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


1. STATUTORY INFORMATION

Blackvein Circuits Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 10651040

Registered office: Duffryn Isaf
Duffryn Terrace Wattsville
Newport
NP11 7QN

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% Straight line
Fixtures and fittings - 25% Straight line
Motor vehicles - 25% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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.

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 1,438 8,340 27,896 37,674
Additions - 521 41,042 41,563
Disposals - - (27,896 ) (27,896 )
At 31 March 2023 1,438 8,861 41,042 51,341
DEPRECIATION
At 1 April 2022 1,438 7,724 1,162 10,324
Charge for year - 314 8,617 8,931
Eliminated on disposal - - (4,649 ) (4,649 )
At 31 March 2023 1,438 8,038 5,130 14,606
NET BOOK VALUE
At 31 March 2023 - 823 35,912 36,735
At 31 March 2022 - 616 26,734 27,350

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 114,796 133,123
Other debtors 64,626 71,652
179,422 204,775

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 11,667 11,667
Hire purchase contracts 3,482 2,752
Trade creditors 30,801 32,108
Taxation and social security 74,078 67,728
Other creditors 681 2,299
120,709 116,554

The hire purchase liabilities due within one year are secured against the assets to which they relate.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 36,945 48,611
Hire purchase contracts 27,967 24,579
64,912 73,190

The hire purchase liabilities due in greater than one year are secured against the assets to which they relate.

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 11,667 11,667

Amounts falling due between two and five years:
Bank loans - 2-5 years 36,945 48,611

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 A Ordinary £1 100 100
10 B Ordinary £1 10 10
110 110