IRIS Accounts Production v24.2.0.383 10651040 director 1.4.23 31.3.24 31.3.24 false true false false true false A Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106510402023-03-31106510402024-03-31106510402023-04-012024-03-31106510402022-03-31106510402022-04-012023-03-31106510402023-03-3110651040ns14:PoundSterling2023-04-012024-03-3110651040ns10:Director12023-04-012024-03-3110651040ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110651040ns10:SmallEntities2023-04-012024-03-3110651040ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3110651040ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110651040ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110651040ns10:FullAccounts2023-04-012024-03-3110651040ns10:OrdinaryShareClass12023-04-012024-03-3110651040ns10:OrdinaryShareClass22023-04-012024-03-3110651040ns5:CurrentFinancialInstruments2024-03-3110651040ns5:CurrentFinancialInstruments2023-03-3110651040ns5:Non-currentFinancialInstruments2024-03-3110651040ns5:Non-currentFinancialInstruments2023-03-3110651040ns5:ShareCapital2024-03-3110651040ns5:ShareCapital2023-03-3110651040ns5:RetainedEarningsAccumulatedLosses2024-03-3110651040ns5:RetainedEarningsAccumulatedLosses2023-03-3110651040ns10:RegisteredOffice2023-04-012024-03-3110651040ns5:PlantMachinery2023-04-012024-03-3110651040ns5:FurnitureFittings2023-04-012024-03-3110651040ns5:MotorVehicles2023-04-012024-03-3110651040ns5:PlantMachinery2023-03-3110651040ns5:FurnitureFittings2023-03-3110651040ns5:MotorVehicles2023-03-3110651040ns5:PlantMachinery2024-03-3110651040ns5:FurnitureFittings2024-03-3110651040ns5:MotorVehicles2024-03-3110651040ns5:PlantMachinery2023-03-3110651040ns5:FurnitureFittings2023-03-3110651040ns5:MotorVehicles2023-03-3110651040ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3110651040ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110651040ns5:CurrentFinancialInstruments2023-04-012024-03-3110651040ns5:Non-currentFinancialInstruments2023-04-012024-03-3110651040ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3110651040ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3110651040ns10:OrdinaryShareClass12024-03-3110651040ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 10651040 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

BLACKVEIN CIRCUITS LIMITED

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,052 36,735

CURRENT ASSETS
Debtors 5 206,111 179,422
Cash at bank 178,463 201,845
384,574 381,267
CREDITORS
Amounts falling due within one year 6 126,264 120,709
NET CURRENT ASSETS 258,310 260,558
TOTAL ASSETS LESS CURRENT LIABILITIES 284,362 297,293

CREDITORS
Amounts falling due after more than one
year

7

48,562

64,912
NET ASSETS 235,800 232,381

CAPITAL AND RESERVES
Called up share capital 9 110 110
Retained earnings 235,690 232,271
SHAREHOLDERS' FUNDS 235,800 232,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 July 2024 and were signed by:





Mr I Jeremiah - Director


BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Blackvein Circuits Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 10651040

Registered office: Duffryn Isaf
Duffryn Terrace
Wattsville
Newport
NP11 7QN

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% Straight line
Fixtures and fittings - 25% Straight line
Motor vehicles - 25% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial Instruments

Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,438 8,861 41,042 51,341
DEPRECIATION
At 1 April 2023 1,438 8,038 5,130 14,606
Charge for year - 422 10,261 10,683
At 31 March 2024 1,438 8,460 15,391 25,289
NET BOOK VALUE
At 31 March 2024 - 401 25,651 26,052
At 31 March 2023 - 823 35,912 36,735

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 156,085 114,796
Other debtors 48,952 64,098
Prepayments 1,074 528
206,111 179,422

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 11,667 11,667
Hire purchase contracts 4,456 3,482
Trade creditors 41,639 30,801
Social security and other taxes 67,183 74,077
Other creditors 375 375
Accruals and deferred income 944 307
126,264 120,709

The hire purchase liabilities due within one year are secured against the assets to which they relate.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 25,278 36,945
Hire purchase contracts 23,284 27,967
48,562 64,912

BLACKVEIN CIRCUITS LIMITED (REGISTERED NUMBER: 10651040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The hire purchase liabilities due in greater than one year are secured against the assets to which they relate.

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 11,667 11,667

Amounts falling due between two and five years:
Bank loans - 2-5 years 25,278 36,945

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A Ordinary £1 100 100
10 B Ordinary £1 10 10
110 110