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REGISTERED NUMBER: 06635146 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

BLINC-UK LTD

BLINC-UK LTD (REGISTERED NUMBER: 06635146)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


BLINC-UK LTD (REGISTERED NUMBER: 06635146)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,896 2,030

CURRENT ASSETS
Stocks 600 600
Debtors 6 613,826 673,415
Cash at bank 32,529 17,248
646,955 691,263
CREDITORS
Amounts falling due within one year 7 480,705 375,544
NET CURRENT ASSETS 166,250 315,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,146

317,749

CREDITORS
Amounts falling due after more than one
year

8

(110,268

)

(196,688

)

PROVISIONS FOR LIABILITIES (474 ) (508 )
NET ASSETS 57,404 120,553

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,304 120,453
SHAREHOLDERS' FUNDS 57,404 120,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BLINC-UK LTD (REGISTERED NUMBER: 06635146)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





D S Bignall - Director


BLINC-UK LTD (REGISTERED NUMBER: 06635146)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

BLINC-UK LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06635146

Registered office: Chancery House
3 Hatchlands Road
Redhill
RH1 6AA

The presentation currency of the financial statements is the Pound Sterling (£).


All amounts in the financial statements have been rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the members have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover
The company continues to expand its offerings to the lettings industry supplying a range of products and services to the sector. This includes an increasing number of insurance based products. Turnover represents the total invoice value, excluding flat rate value added tax, of services rendered and products supplied during the year. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services and products.

BLINC-UK LTD (REGISTERED NUMBER: 06635146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Improvement to property - Over the lease term
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost

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

Financial instruments
Basic financial assets, including trade debtors, other debtors, loans to directors, cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors, other creditors and other loans, are initially recognised at transaction price and are subsequently recognised at amortised cost.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


BLINC-UK LTD (REGISTERED NUMBER: 06635146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

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.

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.

Holiday pay accruals
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscovered salary costs of the future holiday entitlement so accrued at the balance sheet date.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 20,440
Additions 1,757
Disposals (1,335 )
At 30 April 2024 20,862
DEPRECIATION
At 1 May 2023 18,410
Charge for year 1,891
Eliminated on disposal (1,335 )
At 30 April 2024 18,966
NET BOOK VALUE
At 30 April 2024 1,896
At 30 April 2023 2,030

BLINC-UK LTD (REGISTERED NUMBER: 06635146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 158,753 128,286
Other debtors 455,073 545,129
613,826 673,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,715 37,024
Trade creditors 74,600 14,468
Taxation and social security 285,544 239,620
Other creditors 83,846 84,432
480,705 375,544

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,833 20,833
Other creditors 99,435 175,855
110,268 196,688

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 26,715 27,024

The bank overdraft is secured by a debenture covering the assets of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company advanced £218,477 in total to directors, and £329,500 in total was repaid by directors. These loans are repayable on demand. Interest totalling £10,739 was charged on these loans.

At the balance sheet date the company was owed £346,713 (2023: £446,997) in total by directors.