UBLOQUITY LTD

Company Registration Number:
NI675891 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

UBLOQUITY LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

UBLOQUITY LTD

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 509,832 728,332
Tangible assets: 4 6,413 4,759
Investments: 5 87 87
Total fixed assets: 516,332 733,178
Current assets
Debtors:   117,681 191,667
Cash at bank and in hand: 103,346 169,059
Total current assets: 221,027 360,726
Creditors: amounts falling due within one year:   (309,580) (85,342)
Net current assets (liabilities): (88,553) 275,384
Total assets less current liabilities: 427,779 1,008,562
Total net assets (liabilities): 427,779 1,008,562
Capital and reserves
Called up share capital: 1,238 1,220
Share premium account: 1,860,983 1,759,830
Profit and loss account: (1,434,442) (752,488)
Shareholders funds: 427,779 1,008,562

The notes form part of these financial statements

UBLOQUITY LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 June 2024
and signed on behalf of the board by:

Name: Kieran Kelly
Status: Director

The notes form part of these financial statements

UBLOQUITY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Equipment -20% straight line

Intangible fixed assets and amortisation policy

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Intellectual Property - 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

UBLOQUITY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 11 9

UBLOQUITY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Intangible Assets

Total
Cost £
At 01 February 2023 728,332
At 31 January 2024 728,332
Amortisation
At 01 February 2023 0
Charge for year 218,500
At 31 January 2024 218,500
Net book value
At 31 January 2024 509,832
At 31 January 2023 728,332

UBLOQUITY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible Assets

Total
Cost £
At 01 February 2023 4,950
Additions 2,832
At 31 January 2024 7,782
Depreciation
At 01 February 2023 191
Charge for year 1,178
At 31 January 2024 1,369
Net book value
At 31 January 2024 6,413
At 31 January 2023 4,759

UBLOQUITY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Fixed investments

The company holds 100% of the shares in Ubloquity (Ireland) Limited.