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Company No: 11023655 (England and Wales)

BLUBRIK LIMITED

Unaudited Financial Statements
For the financial year ended 30 October 2023
Pages for filing with the registrar

BLUBRIK LIMITED

Unaudited Financial Statements

For the financial year ended 30 October 2023

Contents

BLUBRIK LIMITED

BALANCE SHEET

As at 30 October 2023
BLUBRIK LIMITED

BALANCE SHEET (continued)

As at 30 October 2023
Note 30.10.2023 30.10.2022
£ £
Fixed assets
Tangible assets 3 2,401,300 2,191,927
2,401,300 2,191,927
Current assets
Debtors 4 4,796 5,771
Cash at bank and in hand 32,908 29,022
37,704 34,793
Creditors: amounts falling due within one year 5 ( 2,454,164) ( 2,244,158)
Net current liabilities (2,416,460) (2,209,365)
Total assets less current liabilities (15,160) (17,438)
Net liabilities ( 15,160) ( 17,438)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 15,260 ) ( 17,538 )
Total shareholders' deficit ( 15,160) ( 17,438)

For the financial year ending 30 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Blubrik Limited (registered number: 11023655) were approved and authorised for issue by the Board of Directors on 30 July 2024. They were signed on its behalf by:

Dr L Pinson
Director
BLUBRIK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 October 2023
BLUBRIK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Blubrik Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole,, Dorset, BH15 2PW, United Kingdom.
The principle place of business is: 43 Alcantara Crescent, Southampton, Hampshire, SO14 3HR.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £15,160. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Fixtures and fittings 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

Year ended
30.10.2023
Period from
01.11.2021 to
30.10.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Fixtures and fittings Total
£ £ £
Cost
At 31 October 2022 2,184,840 15,347 2,200,187
Additions 211,800 0 211,800
At 30 October 2023 2,396,640 15,347 2,411,987
Accumulated depreciation
At 31 October 2022 0 8,260 8,260
Charge for the financial year 0 2,427 2,427
At 30 October 2023 0 10,687 10,687
Net book value
At 30 October 2023 2,396,640 4,660 2,401,300
At 30 October 2022 2,184,840 7,087 2,191,927

Investment properties

There was no independent valuation of the investment properties in either year.

4. Debtors

30.10.2023 30.10.2022
£ £
Prepayments and accrued income 2,180 3,444
Other debtors 2,616 2,327
4,796 5,771

5. Creditors: amounts falling due within one year

30.10.2023 30.10.2022
£ £
Trade creditors 2,160 0
Other creditors 2,452,004 2,244,158
2,454,164 2,244,158