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Registration number: 13334620

Black Balance Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Black Balance Limited

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 11

 

Black Balance Limited

Company Information

Directors

Mr A A Klich

Mrs A N Klich

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

Accountants

Rotherham Taylor Limited 21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Black Balance Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr A A Klich

Mrs A N Klich

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 15 January 2025 and signed on its behalf by:
 

.........................................
Mr A A Klich
Director

.........................................
Mrs A N Klich
Director

 

Black Balance Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

292,154

316,793

Cost of sales

 

(216,413)

(242,209)

Gross profit

 

75,741

74,584

Administrative expenses

 

(68,106)

(68,801)

Operating profit

 

7,635

5,783

Interest payable and similar expenses

 

(93)

1,225

Profit before tax

4

7,542

7,008

Tax on profit

 

(1,433)

(942)

Profit for the financial year

 

6,109

6,066

 

Black Balance Limited

(Registration number: 13334620)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,595

4,437

Current assets

 

Debtors

6

5,471

1,320

Cash at bank and in hand

 

8,826

4,842

 

14,297

6,162

Creditors: Amounts falling due within one year

7

(5,790)

(2,016)

Net current assets

 

8,507

4,146

Total assets less current liabilities

 

15,102

8,583

Provisions for liabilities

(1,253)

(843)

Net assets

 

13,849

7,740

Capital and reserves

 

Called up share capital

100

100

Retained earnings

13,749

7,640

Shareholders' funds

 

13,849

7,740

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

 

Black Balance Limited

(Registration number: 13334620)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 15 January 2025 and signed on its behalf by:
 

.........................................
Mr A A Klich
Director

.........................................
Mrs A N Klich
Director

 

Black Balance Limited

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


 

Share capital
£

Profit and loss account
£

Total
£

At 1 May 2023

100

7,640

7,740

Profit for the year

-

6,109

6,109

At 30 April 2024

100

13,749

13,849

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

100

1,574

1,674

Profit for the year

-

6,066

6,066

At 30 April 2023

100

7,640

7,740

 

Black Balance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

2

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 sales/value added tax, returns, rebates and discounts.

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Black Balance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024


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.

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

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 statement of financial position 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

Office equipment

33% straight line

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.

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.

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.

 

Black Balance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,476

2,972

 

Black Balance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

8,914

8,914

Additions

7,634

7,634

At 30 April 2024

16,548

16,548

Depreciation

At 1 May 2023

4,477

4,477

Charge for the year

5,476

5,476

At 30 April 2024

9,953

9,953

Carrying amount

At 30 April 2024

6,595

6,595

At 30 April 2023

4,437

4,437

6

Debtors

Current

2024
£

2023
£

Prepayments

539

1,320

Other debtors

4,932

-

 

5,471

1,320

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

624

-

Trade creditors

 

2,168

-

Taxation and social security

 

1,023

672

Accruals and deferred income

 

1,975

1,344

 

5,790

2,016

 

Black Balance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Director's loan accounts

624

-

The director's loan accounts are interest free and repayable on demand.

 

Black Balance Limited

Detailed Profit and Loss Account for the Year Ended 30 April 2024

2024
£

2023
£

Turnover (analysed below)

292,154

316,793

Cost of sales (analysed below)

(216,413)

(242,209)

Gross profit

75,741

74,584

Administrative expenses

Establishment costs (analysed below)

(624)

-

General administrative expenses (analysed below)

(61,352)

(65,062)

Finance charges (analysed below)

(654)

(767)

Depreciation costs (analysed below)

(5,476)

(2,972)

(68,106)

(68,801)

Operating profit

7,635

5,783

Interest payable and similar expenses (analysed below)

(93)

1,225

Profit before tax

7,542

7,008

 

Black Balance Limited

Detailed Profit and Loss Account for the Year Ended 30 April 2024

2024
£

2023
£

   

Turnover

Sales

291,805

316,600

Other revenue

349

193

292,154

316,793

   

Cost of sales

Direct costs

(216,413)

(242,209)

   

Establishment costs

Use of home as office

(624)

-

   

General administrative expenses

Computer software, subscriptions and maintenance costs

(6,989)

(6,650)

Printing, postage and stationery

(2,292)

(1,448)

Travel and subsistence

(7,393)

(17,364)

Advertising

(42,982)

(34,295)

Accountancy fees

(1,554)

(1,344)

Legal and professional fees

(142)

(3,961)

(61,352)

(65,062)

   

Finance charges

Bank charges

(654)

(767)

   

Depreciation costs

Depreciation of office equipment (owned)

(5,476)

(2,972)

   

Interest payable and similar expenses

Bank interest payable

(4)

-

Foreign currency (gains)/losses

(89)

1,225

(93)

1,225