Company Registration No. 07491553 (England and Wales)
Blackpot Limited
Unaudited accounts
for the year ended 31 March 2023
Blackpot Limited
Unaudited accounts
Contents
Blackpot Limited
Company Information
for the year ended 31 March 2023
Company Number
07491553 (England and Wales)
Registered Office
60 High Street
Wimbledon
London
SW19 5EE
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Blackpot Limited
Statement of financial position
as at 31 March 2023
Debtors
2,259,546
6,337,141
Cash at bank and in hand
3,812
4,162
Creditors: amounts falling due within one year
(2,010)
(2,796,535)
Net current assets
2,261,348
3,544,768
Total assets less current liabilities
2,261,348
3,544,768
Creditors: amounts falling due after more than one year
(1,830,651)
(3,087,840)
Net assets
430,697
456,928
Called up share capital
1
1
Profit and loss account
430,696
456,927
Shareholders' funds
430,697
456,928
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 November 2023 and were signed on its behalf by
Mr D S Baroukh
Director
Company Registration No. 07491553
Blackpot Limited
Notes to the Accounts
for the year ended 31 March 2023
Blackpot Limited is a private company, limited by shares, registered in England and Wales, registration number 07491553. The registered office is 60 High Street, Wimbledon, London, SW19 5EE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
Interest payable is charged to the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instruments.
Interest income is recognised in profit or loss using the effective interest method.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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 arc subject to an insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Blackpot Limited
Notes to the Accounts
for the year ended 31 March 2023
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of income and retained earnings over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of income and retained earnings.
Amounts falling due within one year
Other debtors
2,259,546
6,337,141
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
15,947
Other creditors
-
1,562,153
Loans from directors
-
1,216,545
6
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
1,830,651
3,087,840
Aggregate of amounts that fall due for payment after five years
1,830,651
3,087,840
Included within other creditors is a deep discount bond subscribed to by a company under common ownership. The bond is redeemable in 2036 and accrete interest at a rate of 1.07% per annum. During the year the Company made a partial redemption payment of £1,286,629 (2022 - £NIL).
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Blackpot Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Transactions with related parties
Included within other debtors is a debenture of £1,755,841 (2022 - £2,256,841) due from an LLP under common ownership. This amount is interest free (2022 - the debenture was attracting interest at a rate of 5% per annum) and is repayable when agreed upon by both parties.
Included within other debtors is £498,113 (2022 - £4,080,300) due from a company under common ownership. This amount is interest free and repayable when agreed upon by both parties.
Included within other creditors, an amount of £NIL (2022 - £1,216,545) was due to a Director of the Company. This amount is interest free and repayable on demand.
Included within other creditors is £NIL (2022 - £895,453) due to a company under common ownership. This amount is interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).