REGISTERED NUMBER: |
Bloomsbury Minerals Economics Limited |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
Bloomsbury Minerals Economics Limited |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Bloomsbury Minerals Economics Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
97 Judd Street |
London |
WC1H 9JG |
BANKERS: |
Chancery Lane & Holborn Branch |
332 High Holbron |
London |
WC1V 7PS |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Report of the Directors |
for the Year Ended 30 June 2024 |
The directors present their report with the financial statements of the company for the year ended 30 June 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Balance Sheet |
30 June 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings | 5,677,240 | 6,039,726 |
SHAREHOLDERS' FUNDS |
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. |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Bloomsbury Minerals Economics Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at fair value along with loans to these entities, ensuring that fluctuations in asset value are accurately reflected in the company's accounts. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Investments |
Fixed asset investments are stated at market value. |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in | Interest |
group | in |
undertakings | associate | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2023 | 776,405 | 776,575 |
Additions | 401,200 |
Revaluations | 791,000 |
Impairments | ( |
) | ( |
) | (697,605 | ) |
At 30 June 2024 | 1,271,170 |
NET BOOK VALUE |
At 30 June 2024 | 1,271,170 |
At 30 June 2023 | 776,575 |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 30 June 2024 is represented by: |
Shares in | Interest |
group | in |
undertakings | associate | Totals |
£ | £ | £ |
Valuation in 2024 | 452,000 | 190,343 | 642,343 |
Cost | 170 | 628,657 | 628,827 |
452,170 | 819,000 | 1,271,170 |
During the year the company had two subsidiary companies, Bloomsbury Natural Capital Ltd and Bloomsbury Information Capital Ltd. |
The company owned 85 shares in Bloomsbury Natural Capital Ltd which is an 85% subsidiary of the company. Bloomsbury Natural Capital Ltd is an investment vehicle and as of 30th June 2024 its share portfolio was valued at £431,071 which resulted in an impairment of £339,000. |
The company owned 85 shares in Bloomsbury Information Capital Ltd which is an 85% subsidiary of the company. Bloomsbury Information Capital Ltd is an investment vehicle and as of 30th June 2024 its share portfolio was valued at £2,338,861 which resulted in an increased valuation of £791,000. |
6. | DEBTORS |
30/6/24 | 30/6/23 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Loan to Skarn Associates Ltd | - | 200,000 |
Loan to O'Donnell | 242,700 | - |
Directors' loan accounts | 776,092 | 1,000,000 |
Prepayments |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
Bloomsbury Minerals Economics Limited (Registered number: 02815797) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Tax |
Other creditors |
Accrued expenses |