Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11229039 Mr Andrew Gray Mr James Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11229039 2023-03-31 11229039 2024-03-31 11229039 2023-04-01 2024-03-31 11229039 frs-core:Non-currentFinancialInstruments 2024-03-31 11229039 frs-core:ComputerEquipment 2024-03-31 11229039 frs-core:ComputerEquipment 2023-04-01 2024-03-31 11229039 frs-core:ComputerEquipment 2023-03-31 11229039 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 11229039 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 11229039 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 11229039 frs-core:RevaluationReserve 2023-03-31 11229039 frs-core:RevaluationReserve 2024-03-31 11229039 frs-core:ShareCapital 2024-03-31 11229039 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11229039 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11229039 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11229039 frs-bus:SmallEntities 2023-04-01 2024-03-31 11229039 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11229039 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11229039 frs-bus:OrdinaryShareClass2 2023-04-01 2024-03-31 11229039 frs-bus:OrdinaryShareClass2 2024-03-31 11229039 frs-bus:OrdinaryShareClass3 2023-04-01 2024-03-31 11229039 frs-bus:OrdinaryShareClass3 2024-03-31 11229039 frs-core:DeferredTaxation 2023-04-01 2024-03-31 11229039 frs-core:DeferredTaxation 2023-03-31 11229039 frs-core:DeferredTaxation 2024-03-31 11229039 frs-core:CostValuation 2023-03-31 11229039 frs-core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 11229039 frs-core:CostValuation 2024-03-31 11229039 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 11229039 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 11229039 frs-bus:Director1 2023-04-01 2024-03-31 11229039 frs-bus:Director2 2023-04-01 2024-03-31 11229039 frs-countries:EnglandWales 2023-04-01 2024-03-31 11229039 2022-03-31 11229039 2023-03-31 11229039 2022-04-01 2023-03-31 11229039 frs-core:CurrentFinancialInstruments 2023-03-31 11229039 frs-core:Non-currentFinancialInstruments 2023-03-31 11229039 frs-core:RevaluationReserve 2023-03-31 11229039 frs-core:ShareCapital 2023-03-31 11229039 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 11229039 frs-bus:OrdinaryShareClass2 2022-04-01 2023-03-31 11229039 frs-bus:OrdinaryShareClass3 2022-04-01 2023-03-31
Registered number: 11229039
Blockrocket Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Blockrocket Limited For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, We have prepared for your approval the accounts of Blockrocket Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Blockrocket Limited , as a body, in accordance with the terms of our engagement letter dated 24 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Blockrocket Limited and state those matters that we have agreed to state to the directors of Blockrocket Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blockrocket Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Blockrocket Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Blockrocket Limited . You consider that Blockrocket Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Blockrocket Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
5th September 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 11229039
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 688,995 624,587
Tangible Assets 5 1,129 648
Investments 6 14,043 17,354
704,167 642,589
CURRENT ASSETS
Debtors 7 51,693 38,357
Cash at bank and in hand 21,964 15,450
73,657 53,807
Creditors: Amounts Falling Due Within One Year 8 (4,212 ) (15,428 )
NET CURRENT ASSETS (LIABILITIES) 69,445 38,379
TOTAL ASSETS LESS CURRENT LIABILITIES 773,612 680,968
NET ASSETS 773,612 680,968
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 265,056 184,495
Profit and Loss Account 508,456 496,373
SHAREHOLDERS' FUNDS 773,612 680,968
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Gray
Director
Mr James Morgan
Director
5th September 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Blockrocket Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11229039 . The registered office is Ascendis, Unit 3, Building 2, The Colony, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.

The company's principal place of activity is Tech Incubator, Oxford Road, Manchester, M1 7ED.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangibles assets comprise crypto assets. Crypto assets are initially recognised at cost at the time of acquisition and then carried at fair value derived from their relevant going market rate where an active market exists. If no active market exists, they are stated at cost less amortisation (over their useful economic life of 10 years) with impairment charges made where necessary.

For those stated at fair value, revaluations are carried out on a yearly basis at the year end date. Increases in the fair value of crypto assets are recognised in a revaluation reserve via Other Comprehensive Income except where they reverse a revaluation decrease of the same asset previously recognised in profit or loss. Revaluation losses are also recognised in a revaluation reserve via Other Comprehensive Income to the extent of any previously recognised revaluation gains in respect of that asset, but any excess is recognised in the profit or loss account.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% on straight line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
Page 5
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tax is recognised on chargeable capital gain events as they arise. Calculation of capital gains on crypto asset tokens are calculated on a same day, 30 day and S104 pooling basis per HMRC's manual CRYPTO22200. Capital gain on the disposal of NFTs which are separately identifiable are not pooled.
2.7. Fixed Asset Investments - Other
These represent Non-Fungible Tokens (“NFTs”) held for long term growth and are stated at fair value with gains and losses being recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Crypto Assets
£
Cost or Valuation
As at 1 April 2023 624,587
Additions 2,783
Revaluations 83,872
Disposals (22,247)
As at 31 March 2024 688,995
Net Book Value
As at 31 March 2024 688,995
As at 1 April 2023 624,587
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 1,579
Additions 1,049
As at 31 March 2024 2,628
Depreciation
As at 1 April 2023 931
Provided during the period 568
As at 31 March 2024 1,499
Net Book Value
As at 31 March 2024 1,129
As at 1 April 2023 648
Page 5
Page 6
6. Investments
Other
£
Cost
As at 1 April 2023 17,354
Revaluations (3,311 )
As at 31 March 2024 14,043
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 14,043
As at 1 April 2023 17,354
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 175 206
Due after more than one year
Amounts owed by participating interests 897 -
Other debtors 50,621 38,151
51,518 38,151
51,693 38,357
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 4,212 3,673
Taxation and social security - 11,755
4,212 15,428
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 (38,151 ) (38,151)
Deferred taxation (12,470 ) (12,470 )
Balance at 31 March 2024 (50,621 ) (50,621)
Page 6
Page 7
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary A shares of £ 1 each 50 50
50 Ordinary B shares of £ 1 each 50 50
100 100
11. Reserves
Revaluation Reserve
£
As at 1 April 2023 184,495
Deficit on revaluation 80,561
As at 31 March 2024 265,056
Page 7