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Company Registration No. 07491553 (England and Wales)
Blackpot Limited Unaudited accounts for the year ended 31 March 2023
Blackpot Limited Unaudited accounts Contents
Page
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Blackpot Limited Company Information for the year ended 31 March 2023
Director
Mr D S Baroukh
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
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Blackpot Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
2,259,546 
6,337,141 
Cash at bank and in hand
3,812 
4,162 
2,263,358 
6,341,303 
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 
Capital and reserves
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
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Blackpot Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
Interest payable
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 receivable
Interest income is recognised in profit or loss using the effective interest method.
Tax
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.
Debtors
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.
Creditors
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.
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Blackpot Limited Notes to the Accounts for the year ended 31 March 2023
Borrowings
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.
Financial instruments
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.
4
Debtors
2023 
2022 
£ 
£ 
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 
Accruals
2,010 
1,890 
2,010 
2,796,535 
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).
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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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).
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