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Blockmole Limited

Registered Number
13631382
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

Blockmole Limited
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

Davenport, Paul Mark
Davy-Martin, Lee Philip

Registered Address

First Floor
5 Fleet Place
London
EC4M 7RD

Registered Number

13631382 (England and Wales)
Blockmole Limited
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments341,804-
41,804-
Current assets
Debtors1,516,475394,443
Cash at bank and on hand4,182130,462
1,520,657524,905
Creditors amounts falling due within one year4(1,332,931)(544,132)
Net current assets (liabilities)187,726(19,227)
Total assets less current liabilities229,530(19,227)
Net assets229,530(19,227)
Capital and reserves
Called up share capital6,7526,430
Share premium294,637-
Profit and loss account(71,859)(25,657)
Shareholders' funds229,530(19,227)
The financial statements were approved and authorised for issue by the Board of Directors on 25 August 2024, and are signed on its behalf by:
Davenport, Paul Mark
Director
Davy-Martin, Lee Philip
Director

Registered Company No. 13631382
Blockmole Limited
Notes to the Financial Statements
for the year ended 30 September 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year22
3.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions41,80441,804
At 30 September 2341,80441,804
Net book value
At 30 September 2341,80441,804
At 30 September 22--

Notes

1Investments in group undertakings and participating interests
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,6252,744
Other creditors1,329,306541,388
Total1,332,931544,132
5.Related party transactions
Within creditors is a balance owing to Lee Davy-Martin, a Director of the company for £7,970 (2022: £7,970). The amount is interest-free and repayable on demand. Within creditors is a balance owing to Paul Davenport, a Director of the company for £Nil (2022: £327,500). The amount is interest-free and repayable on demand. Within creditors is a balance owed to Davenport Family Holdings Limited, a company for which Paul Davenport is a director, for £807,000. The amount is interest-free and repayable on demand. Within debtors is a balance owing to the company from Infra Norway AS, a Norwegian company in which the company holds a controlling interest for £552,015 (2022: £394,043). The amount is interest-free and repayable on demand. Within debtors is a balance owing to the company from Blockmole Mining Ltd, a British Virgin Island company in which the company holds a controlling interest for £449,723. The amount is interest-free and repayable on demand.