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Registered number: 08411421
Blackfordby Finance Limited
Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08411421
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 378 648
Investments 5 2,189,534 2,302,673
2,189,912 2,303,321
CURRENT ASSETS
Debtors 6 984 177
Cash at bank and in hand 60,706 56,888
61,690 57,065
Creditors: Amounts Falling Due Within One Year 7 (3,800,376 ) (3,853,877 )
NET CURRENT ASSETS (LIABILITIES) (3,738,686 ) (3,796,812 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,548,774 ) (1,493,491 )
NET LIABILITIES (1,548,774 ) (1,493,491 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 205,043 318,182
Profit and Loss Account (1,753,917 ) (1,811,773 )
SHAREHOLDERS' FUNDS (1,548,774) (1,493,491)
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 C H Ashley
Director
31 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Blackfordby Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08411421 . The registered office is The Old Vicarage, 4 Main Street, Blackfordby, Derbyshire, DE11 8AB.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
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 25% on a straight line basis
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
2.7. Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 1 1
1 1
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 1,858
As at 28 February 2024 1,858
Depreciation
As at 1 March 2023 1,210
Provided during the period 270
As at 28 February 2024 1,480
Net Book Value
As at 28 February 2024 378
As at 1 March 2023 648
5. Investments
Listed
£
Cost
As at 1 March 2023 2,302,673
Revaluations (113,139 )
As at 28 February 2024 2,189,534
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 2,189,534
As at 1 March 2023 2,302,673
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 984 177
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 230 -
Other creditors 1,169 1,398
Accruals and deferred income 866 872
Director's loan account 3,798,111 3,851,607
3,800,376 3,853,877
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
As at 1 March 2023 318,182
Surplus on revaluation (113,139 )
As at 28 February 2024 205,043
10. Related Party Transactions
During the year the company owed Mr C H Ashley , a director of the company , £3,798,111 (2022: £3,851,607).
11. Ultimate Controlling Party
Mr C H Ashley is the ultimate controlling party due to owning 100% of the ordinary share capital and having 100% of the voting rights within the company.
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