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REGISTERED NUMBER: 11759911 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

BLOCKAPT LIMITED

BLOCKAPT LIMITED (Registered number: 11759911)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLOCKAPT LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Z Karim
S A W Hudson
S A Shah





REGISTERED OFFICE: 6 Vicarage Road
Edgbaston
Birmingham
England
B15 3ES





REGISTERED NUMBER: 11759911 (England and Wales)





ACCOUNTANTS: Elemental CoSec Limited
27 Old Gloucester Street
London
WC1N 3AX

BLOCKAPT LIMITED (Registered number: 11759911)

Balance Sheet
31 December 2024

31.12.24 31.12.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,919
Tangible assets 5 4,586 11,550
4,586 13,469

CURRENT ASSETS
Debtors 6 38,284 86,573
Cash at bank 227,438 566,724
265,722 653,297
CREDITORS
Amounts falling due within one year 7 (64,359 ) 73,709
NET CURRENT ASSETS 330,081 579,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

334,667

593,057

CREDITORS
Amounts falling due after more than one
year

8

275,000

275,000
NET ASSETS 59,667 318,057

BLOCKAPT LIMITED (Registered number: 11759911)

Balance Sheet - continued
31 December 2024

31.12.24 31.12.23
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 2,313 2,160
Share premium 3,554,370 2,920,474
Retained earnings (3,497,016 ) (2,604,577 )
59,667 318,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:




Z Karim - Director



S A W Hudson - Director


BLOCKAPT LIMITED (Registered number: 11759911)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

BLOCKAPT 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover is recognised by reference to the point at which services have been provided.

Intangible assets
Intangible assets acquired separately from a business combination are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful life currently recognised as 5 years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets on straight line basis for 3 years.

Valuation of financial instruments policy
All of the financial instruments of the company are basic and the company has elected to apply the
provisions of Section 11 "Basic Financial Instruments of FRS 10" to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes
party to the contractual provisions of the instruments.

Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.


BLOCKAPT LIMITED (Registered number: 11759911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable
development expenditure is capitalised to the extent that the technical, commercial and financial
feasibility can be demonstrated.

Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Employee benefits policy
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Going concern
The directors have considered the trading performance of the company during the year, and have
considered the business plans for the forthcoming year indicating continuing losses whilst the business develops fully. The directors have noted the funds raised from the issue of shares after the year end, and are reassured that the future funding requirements of the company can continued to be met with the support of its shareholders.

Accordingly, based upon the available information, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Share based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to a recent share transaction in the company. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

BLOCKAPT LIMITED (Registered number: 11759911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 175,000
AMORTISATION
At 1 January 2024 173,081
Charge for year 1,919
At 31 December 2024 175,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 1,919

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 39,855
DEPRECIATION
At 1 January 2024 28,305
Charge for year 6,964
At 31 December 2024 35,269
NET BOOK VALUE
At 31 December 2024 4,586
At 31 December 2023 11,550

BLOCKAPT LIMITED (Registered number: 11759911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
as restated
£    £   
Trade debtors 18,600 62,838
Other debtors 19,684 23,735
38,284 86,573

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
as restated
£    £   
Trade creditors 30,163 34,361
Taxation and social security (155,421 ) (69,667 )
Other creditors 60,899 109,015
(64,359 ) 73,709

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
as restated
£    £   
Other creditors 275,000 275,000

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 25,000 25,000

BLOCKAPT LIMITED (Registered number: 11759911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. CALLED UP SHARE CAPITAL

2024 2023
as restated
£    £   
Ordinary Share Capital
Issued and fully paid
Ordinary Shares 1,830 1,677
Preference Shares 483 483
Share Premium 3,554,370 2,920,474
3,556,682 2,922,634

During the year 763,244 new Ordinary A shares were issued of £152.65 at £0.0002 each. Total premium of £708,938 has been recorded.

These shares were fully paid.

10. SHARE-BASED PAYMENT TRANSACTIONS

The company has an approved EMI option scheme. Under the scheme, options may be exercised over growth shares in the company. The growth shares convert at exit into ordinary shares on a one for one basis, after a hurdle rate of £0.80, £0.96 or £0.97 per ordinary share. The hurdle rate is applicable to all EMI options.

As at 31 December 2024, there were 1,256,333 share options in existence.


Type of optionsNo of sharesExercise price (£)
EMI options category -1575,0000.0002
EMI options category -2204,0000.1600
EMI options category -3477,3330.1700
Total1,256,333