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REGISTERED NUMBER: 01007506 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Blake U.K. Limited

Blake U.K. Limited (Registered number: 01007506)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Blake U.K. Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: P R Blake
R P Blake
Mrs P J Blake
C B Carver





SECRETARY:





REGISTERED OFFICE: 177/187 Rutland Road
Sheffield
South Yorkshire
S3 9PT





REGISTERED NUMBER: 01007506 (England and Wales)





ACCOUNTANTS: Royston Parkin Limited
2 President Buildings
Savile Street East
Sheffield
South Yorkshire
S4 7UQ

Blake U.K. Limited (Registered number: 01007506)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 200,625 168,138
Property, plant and equipment 5 1,475,199 1,493,624
Investments 6 1 1
1,675,825 1,661,763

CURRENT ASSETS
Inventories 1,130,266 1,085,548
Debtors 7 294,786 434,521
Cash at bank and in hand 358 15,624
1,425,410 1,535,693
CREDITORS
Amounts falling due within one year 8 846,298 1,168,076
NET CURRENT ASSETS 579,112 367,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,254,937

2,029,380

CREDITORS
Amounts falling due after more than one
year

9

(409,764

)

(273,961

)

PROVISIONS FOR LIABILITIES 12 (112,452 ) (109,070 )
NET ASSETS 1,732,721 1,646,349

Blake U.K. Limited (Registered number: 01007506)

Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 24,305 24,305
Revaluation reserve 13 776,186 785,338
Capital redemption reserve 30,695 30,695
Retained earnings 901,535 806,011
SHAREHOLDERS' FUNDS 1,732,721 1,646,349

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2023 and were signed on its behalf by:





P R Blake - Director


Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Blake U.K. Limited 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 presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

During the 2021 year the Directors decided it was appropriate to fully write off Goodwill earlier than previously expected.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Plant and machinery - 10% on reducing balance, 2% on cost and Straight line over 20 years
Fixtures and fittings - 15% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on cost with 20% residual value

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is capitalised in the year in which it is incurred and then amortised over its useful life of 5 years. The directors believe this policy more accurately reflects the spread of the costs incurred by the company.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 23 (2022 - 23 ) .

Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 1 April 2022 295,000 3,193 297,904 596,097
Additions - 3,068 90,784 93,852
Disposals - - (14,050 ) (14,050 )
At 31 March 2023 295,000 6,261 374,638 675,899
AMORTISATION
At 1 April 2022 295,000 3,193 129,766 427,959
Amortisation for year - 204 61,160 61,364
Eliminated on disposal - - (14,049 ) (14,049 )
At 31 March 2023 295,000 3,397 176,877 475,274
NET BOOK VALUE
At 31 March 2023 - 2,864 197,761 200,625
At 31 March 2022 - - 168,138 168,138

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 1,040,000 594,747 98,986 82,245 1,815,978
Additions - 19,074 1,324 - 20,398
Disposals - (5,409 ) (404 ) - (5,813 )
At 31 March 2023 1,040,000 608,412 99,906 82,245 1,830,563
DEPRECIATION
At 1 April 2022 72,384 151,325 66,884 31,761 322,354
Charge for year 10,400 11,801 9,079 5,217 36,497
Eliminated on disposal - (3,260 ) (227 ) - (3,487 )
At 31 March 2023 82,784 159,866 75,736 36,978 355,364
NET BOOK VALUE
At 31 March 2023 957,216 448,546 24,170 45,267 1,475,199
At 31 March 2022 967,616 443,422 32,102 50,484 1,493,624

Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2018 20,800 - - - 20,800
Cost 1,019,200 608,412 99,906 82,245 1,809,763
1,040,000 608,412 99,906 82,245 1,830,563

Included within the net book value of land and buildings above is £957,216 (2022 : £967,616) in respect of freehold land and buildings.

Revaluation

The fair value of the company's freehold land and buildings class of fixed assets was revalued on 8th June 2018 by an independent valuer.
The basis of this valuation was on an open market basis. The name and qualification of the independent valuer are Barnsdales Chartered Surveyors, who are members of RICS.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £343,732 (2022 : £348,855).

The fair value of the company's Major Plant class was revalued on 19th March 2015 by an independent valuer.
The basis of this valuation was on open market basis. The name and qualification of the independent valuer are Ellis, Willis & Beckett, who are Chartered Surveyors and Auctioneers.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £158,318 (2022 £146,297).

The fair value of the company's Tooling class was revalued on 19th March 2015 by an independent valuer. The basis of this valuation was net current replacement cost basis. The name and qualification of the independent valuer are Ellis, Willis & Beckett, who are Chartered Surveyors and Auctioneers. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £55,988 (2022 : £57,331).

Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 4,500 66,259 70,759
Additions 15,982 - 15,982
Transfer to ownership 63,955 (23,580 ) 40,375
At 31 March 2023 84,437 42,679 127,116
DEPRECIATION
At 1 April 2022 413 18,922 19,335
Charge for year 1,566 5,217 6,783
Transfer to ownership (103 ) (14,777 ) (14,880 )
At 31 March 2023 1,876 9,362 11,238
NET BOOK VALUE
At 31 March 2023 82,561 33,317 115,878
At 31 March 2022 4,087 47,337 51,424

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 286,075 421,836
Other debtors 8,711 12,685
294,786 434,521

Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 193,395 235,391
Hire purchase contracts (see note 10) 18,519 11,953
Trade creditors 141,884 194,870
Amounts owed to group undertakings 1 1
Taxation and social security 161,629 216,325
Other creditors 330,870 509,536
846,298 1,168,076

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 354,393 265,886
Hire purchase contracts (see note 10) 55,371 8,075
409,764 273,961

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 1 more 5yr by instal - 12,107

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 18,519 11,953
Between one and five years 55,371 8,075
73,890 20,028

Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 394 675
Between one and five years - 394
394 1,069

11. SECURED DEBTS

Loan 2 is denominated in pounds sterling with a nominal interest rate of 2.38%, and the final instalment is due on 30th April 2027. The carrying amount at year end is £176,095 (2022 : £214,207.
The loan is secured against the premises.

Loan 3 is denominated in pounds sterling with a nominal interest rate of 2.50%, and the final instalment was due in July 2022. The carrying amount at the year end is £0 (2022 : £11,221).
The loan is secured against the premises.

Loan 4 is denominated in pounds sterling with a nominal interest rate of 2.50% and is in the form of a bounceback loan relating to Coronavirus. The final instalment is due in November 2026. The carrying amount at the year end is £37,129 (2022 : £47,255).

Loan 5 is denominated in pounds sterling with a nominal interest rate of 5.5%, and the final instalment is due in October 2024. The carrying amount at the year end is £54,825 (2022 : £87,076).

Loan 6 is denominated in pounds sterling with a nominal interest rate of 5.5%, and the final instalment is due in May 2027. The carrying amount at the year end is £212,948 (2022 : £0).

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Deferred tax 109,070 89,864
Deferred Tax charged to P&L 3,382 19,206
112,452 109,070

Deferred
tax
£   
Balance at 1 April 2022 109,070
Charge to Income Statement during year 3,382
Balance at 31 March 2023 112,452

Blake U.K. Limited (Registered number: 01007506)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

13. RESERVES
Revaluation
reserve
£   
At 1 April 2022 785,338
Current year Property revalue (5,277 )
Current year other movement (3,875 )

At 31 March 2023 776,186