2022-07-202023-07-312023-07-31false14245185THEBUILDINGBLOCKS 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THEBUILDINGBLOCKS LIMITED

Registered Number
14245185
(England and Wales)

Unaudited Financial Statements for the Period ended
31 July 2023

THEBUILDINGBLOCKS LIMITED
Company Information
for the period from 20 July 2022 to 31 July 2023

Directors

D Fozzati
Dr A Moore
G Page-Fozzati
N Roche

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

14245185 (England and Wales)
THEBUILDINGBLOCKS LIMITED
Statement of Financial Position
31 July 2023

Notes

2023

£

£

Fixed assets
Intangible assets33,480
Tangible assets44,953
8,433
Current assets
Debtors5382,636
Cash at bank and on hand153,920
536,556
Creditors amounts falling due within one year6(298,742)
Net current assets (liabilities)237,814
Total assets less current liabilities246,247
Net assets246,247
Capital and reserves
Called up share capital4
Profit and loss account246,243
Shareholders' funds246,247
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
G Page-Fozzati
Director
Registered Company No. 14245185
THEBUILDINGBLOCKS LIMITED
Notes to the Financial Statements
for the period ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company was incorporated on 20 July 2022 and commenced trading on that day. These financial statements are for the period from the incorporation date to the 31 July 2023.
Statement of compliance
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.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The financial statements are presented in pound sterling (£), which is the company's functional currency, and figures are rounded to the nearest whole pound.
Going concern
The financial statements have been prepared on the going concern basis. The company made a profit during the year and the directors believe that the company has sufficient financial resources to meet its obligations as they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. Consequently, the directors have concluded that it is appropriate to prepare the annual financial statements on a going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Operating leases
Rentals payable under operating leases are charged to the profit or loss account on a straight-line basis over the period of the lease.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.
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. The Domain name is being amortised evenly over the estimated useful life of 10 years.
Tangible fixed assets and depreciation
Tangible assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Office Equipment3
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

2023
Average number of employees during the year0
3.Intangible assets
Other intangible assets consist of a domain name purchase.

Other

Total

££
Cost or valuation
Additions3,7283,728
At 31 July 233,7283,728
Amortisation and impairment
Charge for year248248
At 31 July 23248248
Net book value
At 31 July 233,4803,480
At 19 July 22--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions5,2445,244
At 31 July 235,2445,244
Depreciation and impairment
Charge for year291291
At 31 July 23291291
Net book value
At 31 July 234,9534,953
At 19 July 22--
5.Debtors: amounts due within one year

2023

£
Trade debtors / trade receivables108,599
Other debtors192,805
Prepayments and accrued income81,232
Total382,636
6.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables30,327
Taxation and social security63,328
Other creditors172,344
Accrued liabilities and deferred income32,743
Total298,742
7.Operating lease commitments
At 31 July 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £250.
8.Controlling party
The directors are of the opinion that there is no ultimate controlling party.