Registration number:
Blackboards Europe Limited
for the Year Ended 29 February 2024
Blackboards Europe Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Blackboards Europe Limited
Company Information
Director |
Mr Ian Charles Black |
Registered office |
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Accountants |
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Blackboards Europe Limited
(Registration number: 07509398)
Balance Sheet as at 29 February 2024
Note |
2024 |
(As restated) |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
516,878 |
488,463 |
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Shareholders' funds |
516,879 |
488,464 |
For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Blackboards Europe Limited
(Registration number: 07509398)
Balance Sheet as at 29 February 2024
Approved and authorised by the
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Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Tombstone Surf
Unit N2
St Erth Business Park
Hayle
Cornwall
TR27 6LP
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehicle |
20% straight-line basis |
Office equipment |
20% reducing-balance basis |
Fixtures & fittings |
15% reducing-balance basis |
Computer equipment |
25% straight-line basis |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate cost at acquisition date of assets given.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Website costs are shown at historical cost.
Trademarks, licences, customer-related intangible assets (including websites) have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks, patents and licences |
Straight line over 10 years |
Website costs |
Straight line over 5 years |
Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
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.
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.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Intangible assets |
Trademarks, patents and licences |
Website costs |
Total |
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Cost or valuation |
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At 1 March 2023 |
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Additions acquired separately |
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- |
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At 29 February 2024 |
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Amortisation |
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At 1 March 2023 |
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Amortisation charge |
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At 29 February 2024 |
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Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £
Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 March 2023 |
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Disposals |
- |
( |
- |
( |
At 29 February 2024 |
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Depreciation |
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At 1 March 2023 |
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Charge for the year |
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- |
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Eliminated on disposal |
- |
( |
- |
( |
At 29 February 2024 |
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Carrying amount |
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At 29 February 2024 |
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- |
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At 28 February 2023 |
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- |
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Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Investments |
2024 |
2023 |
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Investment in associated company |
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Associates |
£ |
Cost |
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At 1 March 2023 |
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Provision |
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Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Associates |
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15 Alverton Street
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Ordinary shares |
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England and Wales |
Associates |
Black Sand Industries Limited The principal activity of Black Sand Industries Limited is |
Stocks |
2024 |
2023 |
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Items for retail |
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Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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- |
Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Blackboards Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Related party transactions |
Transactions with the director |
2024 |
At 1 March 2023 |
Advances to director |
Repayments by director |
At 29 February 2024 |
Mr Ian Charles Black |
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Interest-free loan to the company, repayable on demand |
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( |
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2023 |
At 1 March 2022 |
Advances to director |
Repayments by director |
At 28 February 2023 |
Mr Ian Charles Black |
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Interest-free loan to the company, repayable on demand |
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( |
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Summary of transactions with associates
Black Sand Industries Limited Mr Ian Charles Black, the shareholder and director of Blackboards Europe Limited, is also a shareholder and director of Black Sand Industries Limited.
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