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REGISTERED NUMBER: 03260753 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 June 2024

for

Blackmore Limited

Blackmore Limited (Registered number: 03260753)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Blackmore Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr A J Robbins
Mr N J Hunt
Mr S West





REGISTERED OFFICE:
Longmead Industrial Estate
Shaftesbury
Dorset
SP7 8PX





REGISTERED NUMBER: 03260753 (England and Wales)





AUDITORS: Ward Goodman Audit Services Ltd
4 Cedar Park
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Blackmore Limited (Registered number: 03260753)

Strategic Report
for the Year Ended 30 June 2024

I am very pleased to report another year of profit, continuing a profitable trend and with many KPIs achieved.

REVIEW OF BUSINESS
The strategic focus on high quality, sustainably conscience products and customers continues to be successful, with GP in excess of 40% and the KPI of profitability from the summer trading period achieved.

All environmental standards have been maintained with the solar panels, installed last year now saving over one third of the company's power, significantly mitigating the global increase in electricity costs. In addition, over 50,000 kg of CO2 emissions have been saved. This, along with a variety of other measures, has contributed to recognition, both regionally and nationally, such as the Dorset Business Environmental Impact award win in the past year.

Continuing the firm's strategy of pursuing prudent acquisition opportunities, a small acquisition has been successfully absorbed into the company in the latter half of the year, adding some additional services and nationally known names to the firm's client base.

The company continues to invest in training with fewer but more multi-skilled staff and Blackmore's latest apprentices have all successfully qualified over the last year.

KEY PERFORMANCE INDICATORS
Turnover, Added Value and Gross Profit all increased this year, but perhaps most significantly AV% was in excess of 56% and GP% in excess of 40%, both figures significantly higher than pre pandemic.

Cash generation and a strong Balance Sheet have both been maintained and whilst the net profit figure from trading is slightly lower than the long-term trend, this is substantially due to a sudden and unforeseen drop in the global waste price which reduced the firm's recycling waste income. This drop in price has now been reversed.

FUTURE DEVELOPMENT
The focus on environmentally sustainable products, including recyclable packaging, continues and will form an increasing share of the company's turnover. The future cost increases from the government's recent budget has meant the firm has planned a prudent growth budget, with counter cost measures already planned and implemented. In addition, the return of the waste price and the full effect of last year's acquisition will be significant positives. An investment in a new colour removal system will also have a positive effect on overheads. The company will continue and indeed improve its environmental standards with all fleet cars electric by Christmas 2024. A strong cash and Balance Sheet position means the company will continue its pursuit of prudent acquisitions and is confident of maintaining long term profitable trends.

ON BEHALF OF THE BOARD:





Mr A J Robbins - Director


12 December 2024

Blackmore Limited (Registered number: 03260753)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr A J Robbins
Mr N J Hunt
Mr S West

PRINCIPAL RISKS AND UNCERTAINTIES
The company gives appropriate consideration to risk management objectives and policies. Facilities are in place to deal with cash flow and liquidity risk. Supplier pricing risk is mitigated by a diverse supplier portfolio. Credit risk is managed through adoption of a rigorous credit policy.

DISCLOSURE IN THE STRATEGIC REPORT
The strategic report contains the review of the business and future developments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Blackmore Limited (Registered number: 03260753)

Report of the Directors
for the Year Ended 30 June 2024


AUDITORS
The auditors, Ward Goodman Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A J Robbins - Director


12 December 2024

Report of the Independent Auditors to the Members of
Blackmore Limited

Opinion
We have audited the financial statements of Blackmore Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Blackmore Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Blackmore Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.
- We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquires to the management. We corroborated our inquiries through our review of board minutes.
- We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur.

Audit procedures performed by the Audit engagement team included:
o Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
o Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
o Challenging assumptions and judgments made by management in its significant accounting estimates;
o Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
o Assessing the extent of compliance with the relevant law and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr I M Rodd BSc FCA FCCA (Senior Statutory Auditor)
for and on behalf of Ward Goodman Audit Services Ltd
4 Cedar Park
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

17 December 2024

Blackmore Limited (Registered number: 03260753)

Income Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 6,292,366 6,081,216

Cost of sales 3,769,967 3,611,863
GROSS PROFIT 2,522,399 2,469,353

Administrative expenses 2,308,562 2,291,950
213,837 177,403

Other operating income - 88,917
OPERATING PROFIT 4 213,837 266,320


Interest payable and similar expenses 5 159,823 123,773
PROFIT BEFORE TAXATION 54,014 142,547

Tax on profit 6 (35,061 ) 54,908
PROFIT FOR THE FINANCIAL YEAR 89,075 87,639

Blackmore Limited (Registered number: 03260753)

Other Comprehensive Income
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 89,075 87,639


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

89,075

87,639

Blackmore Limited (Registered number: 03260753)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 3,832,081 3,972,921
Investments 10 - -
3,832,081 3,972,921

CURRENT ASSETS
Stocks 11 297,513 276,577
Debtors 12 995,167 1,068,106
Cash at bank and in hand 147,293 149,298
1,439,973 1,493,981
CREDITORS
Amounts falling due within one year 13 2,460,920 2,365,688
NET CURRENT LIABILITIES (1,020,947 ) (871,707 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,811,134

3,101,214

CREDITORS
Amounts falling due after more than one year 14 (649,814 ) (993,908 )

PROVISIONS FOR LIABILITIES 18 (848,505 ) (883,566 )
NET ASSETS 1,312,815 1,223,740

CAPITAL AND RESERVES
Called up share capital 19 684,000 684,000
Retained earnings 20 628,815 539,740
SHAREHOLDERS' FUNDS 1,312,815 1,223,740

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





Mr A J Robbins - Director


Blackmore Limited (Registered number: 03260753)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 684,000 512,101 1,196,101

Changes in equity
Dividends - (60,000 ) (60,000 )
Total comprehensive income - 87,639 87,639
Balance at 30 June 2023 684,000 539,740 1,223,740

Changes in equity
Total comprehensive income - 89,075 89,075
Balance at 30 June 2024 684,000 628,815 1,312,815

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Blackmore Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Company meets its day to day working capital requirements through facilities provided by its bankers and the Company's forecasts and projections show that the Company is able to operate within its current facilities.The directors have considered cashflow forecasts for the 12 month period from the date of approval of the financial statements.The forecasts show that the company is able to meet its debts as they fall due for the foreseeable future and on the basis of these forecasts the directors consider it appropriate to prepare the financial statements on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other members of the group.

Significant judgements and estimates
There are no significant sources of judgement and estimations during this and the previous year.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

All turnover arises from the principal activity in the UK.

Turnover is recognised at the completion of each printing assignment.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, was being amortised evenly over its useful life. This has now been updated to be charged in full for the prior period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold- 20% on cost
Plant and machinery- Ranges from 5% to 33% on cost
Fixtures and fittings- 15% and 10% on cost


Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Raw materials - cost of purchase on a first in, first out basis.
Work in progress - cost of raw materials and labour together with attributable overheads.

Net realisable value is based on estimated selling price less further costs to completion and disposal.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,646,452 1,773,173
Social security costs 156,009 160,558
Other pension costs 59,124 56,211
1,861,585 1,989,942

The average number of employees during the year was as follows:
2024 2023

Production 40 38
Selling and distribution 16 19
Administration 2 2
58 59


4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 57,452 65,383
Other operating leases 134,384 165,212
Depreciation - owned assets 337,021 312,323
Depreciation - assets on hire purchase contracts 46,424 43,568
Loss/(profit) on disposal of fixed assets 146 (6,954 )
Auditors' remuneration 5,450 5,190

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 42,110 37,424
Hire purchase 117,713 86,349
159,823 123,773

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - (48,055 )

Deferred tax (35,061 ) 102,963
Tax on profit (35,061 ) 54,908

7. DIVIDENDS
2024 2023
£    £   
Interim - 60,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1,335,400
AMORTISATION
At 1 July 2023
and 30 June 2024 1,335,400
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 July 2023 534,545 5,991,385 571,302 7,097,232
Additions 36,661 204,946 2,426 244,033
Disposals - (1,574 ) - (1,574 )
At 30 June 2024 571,206 6,194,757 573,728 7,339,691
DEPRECIATION
At 1 July 2023 217,663 2,389,826 516,822 3,124,311
Charge for year 34,022 334,513 14,910 383,445
Eliminated on disposal - (146 ) - (146 )
At 30 June 2024 251,685 2,724,193 531,732 3,507,610
NET BOOK VALUE
At 30 June 2024 319,521 3,470,564 41,996 3,832,081
At 30 June 2023 316,882 3,601,559 54,480 3,972,921

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 664,436 46,247 710,683
DEPRECIATION
At 1 July 2023 331,133 46,247 377,380
Charge for year 46,424 - 46,424
At 30 June 2024 377,557 46,247 423,804
NET BOOK VALUE
At 30 June 2024 286,879 - 286,879
At 30 June 2023 333,303 - 333,303

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Lamport Gilbert Limited
Registered office: Longmead Industrial Estate, Shaftesbury, Dorset, SP7 8PX
Nature of business: Commercial Printer
%
Class of shares: holding
Ordinary 100.00

11. STOCKS
2024 2023
£    £   
Stocks 157,098 135,005
Work-in-progress 140,415 141,572
297,513 276,577

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 851,249 775,796
Amounts owed by group undertakings 500 -
Other debtors 2,938 74,940
VAT 16,888 31,214
Prepayments 123,592 186,156
995,167 1,068,106

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 164,865 168,056
Hire purchase contracts (see note 16) 659,239 641,683
Trade creditors 1,184,589 1,167,616
Amounts owed to group undertakings - 180,000
Social security and other taxes 35,457 34,829
Other creditors 327,829 10,450
Accrued expenses 88,941 163,054
2,460,920 2,365,688

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 70,833 235,697
Hire purchase contracts (see note 16) 578,981 758,211
649,814 993,908

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 164,865 168,056

Amounts falling due between two and five years:
Bank loans - 2-5 years 70,833 235,697

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 740,538 750,034
Between one and five years 615,477 808,880
1,356,015 1,558,914

Finance charges repayable:
Within one year 81,299 108,351
Between one and five years 36,496 50,669
117,795 159,020

Net obligations repayable:
Within one year 659,239 641,683
Between one and five years 578,981 758,211
1,238,220 1,399,894

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

16. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 203,600 235,235
Between one and five years 659,055 677,405
In more than five years 812,500 962,500
1,675,155 1,875,140

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,238,220 1,399,894

Hire purchase creditors are secured against the assets to which they relate.

Other loans are secured against the trade debtors of the company.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 848,505 883,566

Deferred
tax
£   
Balance at 1 July 2023 883,566
Provided during year (35,061 )
Balance at 30 June 2024 848,505

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
648,000 Ordinary 1 684,000 684,000

Blackmore Limited (Registered number: 03260753)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

20. RESERVES
Retained
earnings
£   

At 1 July 2023 539,740
Profit for the year 89,075
At 30 June 2024 628,815

21. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £59,124 (2023: £56,211). Contributions totalling £13,410 (2023: £10,450) were payable to the fund at the balance sheet date and are included in creditors.

22. ULTIMATE PARENT COMPANY

NAS Group Limited Company Number: 12414746 is regarded by the directors as being the company's ultimate parent company.