Company registration number 14381733 (England and Wales)
Block 42 Limited
Unaudited financial statements
For the period ended 30 September 2023
BLOCK 42 LIMITED
Block 42 Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BLOCK 42 LIMITED
Block 42 Limited
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
Notes
£
£
Current assets
Stocks
3
2,211,271
Debtors
4
116,539
Cash at bank and in hand
5,568
2,333,378
Creditors: amounts falling due within one year
5
(1,287,821)
Net current assets
1,045,557
Creditors: amounts falling due after more than one year
6
(1,068,982)
Net liabilities
(23,425)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(23,525)
Total equity
(23,425)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
M Kyte
Director
Company registration number 14381733 (England and Wales)
BLOCK 42 LIMITED
Block 42 Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
Block 42 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company is reporting for the period from incorporation on 28 September 2022 to 30 September 2023. These are first year accounts and no comparative amounts are present.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The directors have confirmed that they will continue to make funds available in order to ensure that the company can meet its day to day liabilities as they fall due.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
BLOCK 42 LIMITED
Block 42 Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 3 -
3
Stocks
2023
£
Stocks
2,211,271
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
116,539
5
Creditors: amounts falling due within one year
2023
£
Bank loans
1,225,000
Trade creditors
33,480
Other creditors
29,341
1,287,821
6
Creditors: amounts falling due after more than one year
2023
£
Other creditors
1,068,982
7
Called up share capital
2023
2023
Ordinary share capital
Number
£
Ordinary Shares of 10p each
1,000
100
At incorporation, 100 ordinary shares of £1 each were issued at par. During the period there was a sub-division where each share was split into 10 new shares making a total of 1000 ordinary shares.