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Company No: 03371980 (England and Wales)

BLACKMORE COMPUTERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BLACKMORE COMPUTERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BLACKMORE COMPUTERS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
BLACKMORE COMPUTERS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr S Barfoot
Mr S Edmunds
Mr R Pawson (Appointed 31 March 2023, Resigned 15 September 2023)
Mr M Rowe (Resigned 15 September 2023)
REGISTERED OFFICE Chitterne Dairy Shrewton Road
Chitterne
Warminster
BA12 0LN
United Kingdom
COMPANY NUMBER 03371980 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
BLACKMORE COMPUTERS LIMITED

BALANCE SHEET

As at 31 December 2023
BLACKMORE COMPUTERS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 148,690 162,469
Tangible assets 4 167,676 200,920
316,366 363,389
Current assets
Stocks 259,309 301,178
Debtors 6 96,747 154,697
Cash at bank and in hand 654 34,322
356,710 490,197
Creditors: amounts falling due within one year 7 ( 393,274) ( 464,988)
Net current (liabilities)/assets (36,564) 25,209
Total assets less current liabilities 279,802 388,598
Creditors: amounts falling due after more than one year 8 ( 39,262) ( 71,272)
Provision for liabilities ( 37,533) ( 37,057)
Net assets 203,007 280,269
Capital and reserves
Called-up share capital 9 240 300
Share premium account 52,300 52,300
Capital redemption reserve 60 0
Profit and loss account 150,407 227,669
Total shareholders' funds 203,007 280,269

For the financial year ending 31 December 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 Blackmore Computers Limited (registered number: 03371980) were approved and authorised for issue by the Board of Directors on 07 August 2024. They were signed on its behalf by:

Mr S Edmunds
Director
BLACKMORE COMPUTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BLACKMORE COMPUTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 year, unless otherwise stated.

General information and basis of accounting

Blackmore Computers 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 Chitterne Dairy Shrewton Road, Chitterne, Warminster, BA12 0LN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents fair value of services provided under contracts with the customers to the extent there is right to consideration. It is measured at fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoices are not raised until a contract is complete so the value of incomplete services is included in Amounts recoverable on contracts in the balance sheet.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
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, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Plant and machinery 15 % reducing balance
Vehicles 4 years straight line
Fixtures and fittings 15 % reducing balance
Computer equipment 33 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Profit and Loss Account as described below.

Stocks

The cost of finished goods and work in progress 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. At each
reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling
price less costs to complete and sell, the impairment loss is recognised immediately in profit or loss.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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 the are due. If contribution payments exceed the contribution due for the service, the excess is recognised as a prepayment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 47 57

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2023 405,930 405,930
Additions 69,215 69,215
At 31 December 2023 475,145 475,145
Accumulated amortisation
At 01 January 2023 243,461 243,461
Charge for the financial year 82,994 82,994
At 31 December 2023 326,455 326,455
Net book value
At 31 December 2023 148,690 148,690
At 31 December 2022 162,469 162,469

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 January 2023 16,842 216,427 90,347 108,845 71,172 503,633
Additions 0 240 11,990 3,224 5,088 20,542
Disposals 0 0 ( 15,995) 0 0 ( 15,995)
At 31 December 2023 16,842 216,667 86,342 112,069 76,260 508,180
Accumulated depreciation
At 01 January 2023 16,842 105,470 37,624 83,392 59,385 302,713
Charge for the financial year 0 16,680 17,242 4,298 5,569 43,789
Disposals 0 0 ( 5,998) 0 0 ( 5,998)
At 31 December 2023 16,842 122,150 48,868 87,690 64,954 340,504
Net book value
At 31 December 2023 0 94,517 37,474 24,379 11,306 167,676
At 31 December 2022 0 110,957 52,723 25,453 11,787 200,920

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 68,482
Disposals ( 68,482)
At 31 December 2023 0
Provisions for impairment
At 01 January 2023 68,482
Reversal of impairment ( 68,482)
At 31 December 2023 0
Carrying value at 31 December 2023 0
Carrying value at 31 December 2022 0

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 59,297 59,297
Disposals ( 59,297) ( 59,297)
At 31 December 2023 0 0
Provisions for impairment
At 01 January 2023 59,297 59,297
Reversal of impairment ( 59,297) ( 59,297)
At 31 December 2023 0 0
Carrying value at 31 December 2023 0 0
Carrying value at 31 December 2022 0 0

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2023
Ownership
31.12.2022
Ricotech Limited. Chitterne Dairy, Chitterne, Warminster, Wiltshire, BA12 0LN, England and Wales. Waste management of IT equipment Ordinary 0.00% 100.00%

6. Debtors

2023 2022
£ £
Trade debtors 41,776 49,089
Other debtors 54,971 105,608
96,747 154,697

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 12,167 10,586
Trade creditors 77,003 70,443
Taxation and social security 157,928 163,935
Obligations under finance leases and hire purchase contracts 20,826 43,419
Other creditors 125,350 176,605
393,274 464,988

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 14,167 24,167
Obligations under finance leases and hire purchase contracts 25,095 40,480
Other creditors 0 6,625
39,262 71,272

Hire Purchase liabilities are secured on the assets financed.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
120 B ordinary shares of £ 1.00 each 120 120
120 A ordinary shares of £ 1.00 each (2022: 168 shares of £ 1.00 each) 120 168
Nil C ordinary shares (2022: 12 shares of £ 1.00 each) 0 12
240 300

On 15 September 2023 48 Ordinary A shares and 12 Ordinary C shares were cancelled.

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 23,456 121,685
between one and five years 30,431 55,948
53,887 177,633