Registered number
11520021
BLOVERSE LTD
Filleted Accounts
31 August 2023
BLOVERSE LTD
Registered number: 11520021
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 133,123 133,123
Tangible assets 4 400 800
133,523 133,923
Current assets
Cash at bank and in hand 1,143 709
Creditors: amounts falling due within one year 5 (238,748) (198,560)
Net current liabilities (237,605) (197,851)
Total assets less current liabilities (104,082) (63,928)
Creditors: amounts falling due after more than one year 6 (12,176) (13,819)
Net liabilities (116,258) (77,747)
Capital and reserves
Called up share capital 1 1
Profit and loss account (116,259) (77,748)
Shareholder's funds (116,258) (77,747)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr U E Ekong
Director
Approved by the board on 30 August 2024
BLOVERSE LTD
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Website/App:
Cost
At 1 September 2022 133,123
At 31 August 2023 133,123
Amortisation
At 31 August 2023 -
Net book value
At 31 August 2023 133,123
At 31 August 2022 133,123
Website/App is being written off in equal annual instalments over its estimated economic life of 5 years after completion and launch.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 1,600
At 31 August 2023 1,600
Depreciation
At 1 September 2022 800
Charge for the year 400
At 31 August 2023 1,200
Net book value
At 31 August 2023 400
At 31 August 2022 800
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,077 1,750
Other creditors 236,671 196,810
238,748 198,560
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,176 13,819
7 Controlling party
The controlling interest is held by the director solely.
8 Other information
BLOVERSE LTD is a private company limited by shares and incorporated in England. Its registered office is:
HAMILTON HOUSE
4A THE AVENUE
LONDON
ENGLAND
E4 9LD
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