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BLOCKBUSTERS CONTRACTS LIMITED

Registered Number
02992653
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

BLOCKBUSTERS CONTRACTS LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

K Began
K A Connolly
T J Hayes

Registered Address

The Old Barn, Ranscombe Lane
Glynde
Lewes
BN8 6AA

Registered Number

02992653 (England and Wales)
BLOCKBUSTERS CONTRACTS LIMITED
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4278,503246,967
278,503246,967
Current assets
Stocks541,87541,875
Debtors6610,516519,257
Cash at bank and on hand166,153698
818,544561,830
Creditors amounts falling due within one year7(705,129)(567,499)
Net current assets (liabilities)113,415(5,669)
Total assets less current liabilities391,918241,298
Creditors amounts falling due after one year8(70,834)(120,834)
Provisions for liabilities9(56,122)(42,404)
Net assets264,96278,060
Capital and reserves
Called up share capital100100
Profit and loss account264,86277,960
Shareholders' funds264,96278,060
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2025, and are signed on its behalf by:
K A Connolly
Director
Registered Company No. 02992653
BLOCKBUSTERS CONTRACTS LIMITED
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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 sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Fixtures and fittings25-
Vehicles25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year4851
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 December 2379,770497,7321,108,34249,6571,735,501
Additions-33,22757,6993,49994,425
At 30 November 2479,770530,9591,166,04153,1561,829,926
Depreciation and impairment
At 01 December 2323,931439,091976,36049,1521,488,534
Charge for year7,97717,31437,32627262,889
At 30 November 2431,908456,4051,013,68649,4241,551,423
Net book value
At 30 November 2447,86274,554152,3553,732278,503
At 30 November 2355,83958,641131,982505246,967
5.Stocks

2024

2023

££
Work in progress26,50026,500
Finished goods15,37515,375
Total41,87541,875
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables605,506512,417
Other debtors5,0106,840
Total610,516519,257
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables107,778141,799
Bank borrowings and overdrafts-4,915
Taxation and social security340,487244,726
Finance lease and HP contracts85,22128,804
Other creditors36,42046,977
Accrued liabilities and deferred income135,223100,278
Total705,129567,499
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts70,834120,834
Total70,834120,834
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)56,12242,404
Total56,12242,404