Registered number: 14022208
BLOCKBORN LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
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BLOCKBORN LTD
REGISTERED NUMBER: 14022208
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
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BLOCKBORN LTD
REGISTERED NUMBER: 14022208
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 August 2024.
The notes on pages 3 to 6 form part of these financial statements.
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BLOCKBORN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
Blockborn Ltd is a private limited company, registered in England and Wales. The address of its registered office is at 124 Finchley Road, London, NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Tax is recognised in the Statement of Income and Retained Earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
The company is eligible to claim a tax credit on video game production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanceable expenditure and carries losses arising from total net costs forward against future profits.
Stocks comprise video game production costs, which are recorded as a current asset. Video game
production costs are amortised to the Statement of Income and Retained Earnings over the period in
which rights to the relevant video game are being exploited by the company.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price, less any impairment.
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BLOCKBORN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
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The average monthly number of employees, including directors, during the period was 12 (2023 - 11).
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Cash and cash equivalents
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BLOCKBORN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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BLOCKBORN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
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Allotted, called up and fully paid
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685,416 (2023 - 940,000) A Ordinary shares of £0.001 each
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60,000 (2023 - 60,000) B Ordinary shares of £0.001 each
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383,333 (2023 - 383,330) Series Seed shares of £0.001 each
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254,583 (2023 - 0) Deferred shares of £0.001 each
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During the period, the company converted 254,583 Ordinary A shares of £0.001 each to 254,583 Deferred shares of £0.001 each.
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