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Registration number: 11060647

Blurred Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Blurred Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Blurred Limited

Company Information

Directors

Mrs E Weisgard

Mrs N S Govier

Mrs K E J Stolliday

Mr S Lambert

Registered office

16 Bastwick Street
London
EC1V 3PS

Accountants

Redwoods
Chartered Certified2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

Blurred Limited

(Registration number: 11060647)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,462

27,933

Other financial assets

5

-

418

 

39,462

28,351

Current assets

 

Stocks

6

73,454

5,000

Debtors

7

599,488

744,874

Cash at bank and in hand

 

1,085,741

891,712

 

1,758,683

1,641,586

Creditors: Amounts falling due within one year

8

(1,028,925)

(886,507)

Net current assets

 

729,758

755,079

Total assets less current liabilities

 

769,220

783,430

Creditors: Amounts falling due after more than one year

8

(10,000)

(15,000)

Provisions for liabilities

(4,129)

(1,247)

Net assets

 

755,091

767,183

Capital and reserves

 

Called up share capital

9

2

2

Share premium reserve

111,449

171,000

Retained earnings

643,640

596,181

Shareholders' funds

 

755,091

767,183

For the financial year ending 31 December 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Blurred Limited

(Registration number: 11060647)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 27 February 2025 and signed on its behalf by:
 

.........................................
Mrs E Weisgard
Director

 

Blurred Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
16 Bastwick Street
London
EC1V 3PS

These financial statements were authorised for issue by the Board on 27 February 2025.

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.

The accounts are presented in £ Sterling and are rounded to the nearest £1.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

 

Blurred Limited

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

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.

Trade 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Blurred Limited

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

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 25).

 

Blurred Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

22,945

47,418

70,363

Additions

-

22,848

22,848

At 31 December 2024

22,945

70,266

93,211

Depreciation

At 1 January 2024

-

42,430

42,430

Charge for the year

-

11,319

11,319

At 31 December 2024

-

53,749

53,749

Carrying amount

At 31 December 2024

22,945

16,517

39,462

At 31 December 2023

22,945

4,988

27,933

Included within the net book value of land and buildings above is £22,945 (2023 - £22,945) in respect of short leasehold land and buildings.
 

5

Other financial assets (current and non-current)

2024
£

2023
£

Non-current financial assets

Financial assets at cost less impairment

-

418

6

Stocks

2024
£

2023
£

Work in progress

73,454

5,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

552,719

633,900

Prepayments

43,011

33,982

Other debtors

3,758

76,992

 

599,488

744,874

 

Blurred Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

5,000

10,000

Trade creditors

 

4,720

11,137

Taxation and social security

 

262,380

229,802

Accruals and deferred income

 

736,620

601,740

Other creditors

 

20,205

33,828

 

1,028,925

886,507

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

10,000

15,000

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £0.00001 each

123,800

1.24

123,800

1.24

Ordinary B of £0 (2023 - £0.00001) each

-

-

8,333

0.08

Ordinary C of £0.00001 each

19,600

0.20

19,600

0.20

Ordinary D of £0.00001 each

19,600

0.20

19,600

0.20

Ordinary E of £0.00001 each

11,334

0.11

11,334

0.11

Ordinary F of £0.00001 each

11,334

0.11

11,334

0.11

Ordinary G of £0.00001 each

6,334

0.06

6,334

0.06

Ordinary H of £0.00001 each

5,500

0.06

5,500

0.06

 

197,502

1.98

205,835

2.06

 

Blurred Limited

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

15,000

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

10,000

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £97,000 (2023 - £199,000). The company has entered into a lease for office premises.