Registration number:
Bloxd Ltd
for the Period from 24 May 2023 to 31 May 2024
Pages for filing with Registrar
Bloxd Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Bloxd Ltd
Company Information
Director |
Mr A Baker |
Registered office |
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Registered number |
14891128 |
Accountant |
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Bloxd Ltd
(Registration number: 14891128)
Balance Sheet as at 31 May 2024
Note |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Bloxd Ltd
(Registration number: 14891128)
Balance Sheet as at 31 May 2024
For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
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Director
Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
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.
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
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed 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 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:
Office equipment |
33% straight line |
Intangible fixed assets
Trademarks are stated in the balance sheet at cost, less any amortisation and impairment. Amortisation will commence once the patent is granted and in use in the business.
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.
Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
Trade debtors
Trade debtors are amounts due from customers for 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.
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.
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.
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.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
Share based payments
The company has issued options over its unissued shares to certain employees. The cost of equity-settled transactions is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the option holder becomes fully entitled to the award. Fair value is determined using the Black Scholes pricing model.
At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management’s best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest. No expense was recognised in the period as the amount is deemed immaterial.
Staff numbers |
The average number of persons employed by the company (including the director) during the period was
Taxation |
Tax charged in the profit and loss account
24 May 2023 to 31 May 2024 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense in the profit and loss account |
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Deferred tax
Deferred tax assets and liabilities
2024 |
Liability |
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Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
Intangible fixed assets |
Trademarks |
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Cost |
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Additions acquired separately |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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Tangible fixed assets |
Office equipment |
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Cost |
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Additions |
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At 31 May 2024 |
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Depreciation |
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Charge for the period |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
Debtors: amounts falling due within one year |
2024 |
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Trade debtors |
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Other debtors |
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Creditors |
2024 |
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Amounts falling due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals |
2,200 |
Corporation tax |
75,361 |
Director's loan account |
546 |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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1.00 |
On incorporation 1 share with the nominal value of £1 was issued at par value, subsequently the share was sub-divided into 1,000,000 shares each with the nominal value of £0.000001.
Bloxd Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
Share-based payments |
Scheme details and movements
The options will expire ten years after the grant date.
The movements in the number of share options during the period were as follows:
2024 |
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Granted during the period |
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Outstanding, end of period |
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The movements in the weighted average exercise price of share options during the period were as follows:
2024 |
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Granted during the period |
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Outstanding, end of period |
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Effect of share-based payments on profit or loss and financial position
The total expense recognised in profit or loss for the period was £Nil.