Bloxd Ltd 14891128 false 2023-05-24 2024-05-31 2024-05-31 The principal activity of the company is the development of multiplayer web games and to generate revenue by selling advertising space & license agreements. Digita Accounts Production Advanced 6.30.9574.0 true 14891128 2023-05-24 2024-05-31 14891128 2024-05-31 14891128 bus:OrdinaryShareClass1 2024-05-31 14891128 core:RetainedEarningsAccumulatedLosses 2024-05-31 14891128 core:ShareCapital 2024-05-31 14891128 core:CurrentFinancialInstruments 2024-05-31 14891128 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14891128 core:OtherResidualIntangibleAssets 2024-05-31 14891128 core:FurnitureFittingsToolsEquipment 2024-05-31 14891128 core:Share-basedArrangement1 2024-05-31 14891128 bus:SmallEntities 2023-05-24 2024-05-31 14891128 bus:AuditExemptWithAccountantsReport 2023-05-24 2024-05-31 14891128 bus:FilletedAccounts 2023-05-24 2024-05-31 14891128 bus:SmallCompaniesRegimeForAccounts 2023-05-24 2024-05-31 14891128 bus:RegisteredOffice 2023-05-24 2024-05-31 14891128 bus:Director1 2023-05-24 2024-05-31 14891128 bus:OrdinaryShareClass1 2023-05-24 2024-05-31 14891128 bus:PrivateLimitedCompanyLtd 2023-05-24 2024-05-31 14891128 bus:Agent1 2023-05-24 2024-05-31 14891128 core:OtherResidualIntangibleAssets 2023-05-24 2024-05-31 14891128 core:FurnitureFittingsToolsEquipment 2023-05-24 2024-05-31 14891128 core:OfficeEquipment 2023-05-24 2024-05-31 14891128 core:Share-basedArrangement1 2023-05-24 2024-05-31 14891128 core:UKTax 2023-05-24 2024-05-31 14891128 countries:EnglandWales 2023-05-24 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14891128

Bloxd Ltd

Unaudited Filleted Financial Statements

for the Period from 24 May 2023 to 31 May 2024

Pages for filing with Registrar

 

Bloxd Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Bloxd Ltd

Company Information

Director

Mr A Baker

Registered office

86-90 Paul Street
London
EC2A 4NE

Registered number

14891128

Accountant

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Bloxd Ltd

(Registration number: 14891128)
Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Intangible assets

5

5,960

Tangible assets

6

7,213

 

13,173

Current assets

 

Debtors

7

111,523

Cash at bank and in hand

 

246,861

 

358,384

Creditors: Amounts falling due within one year

8

(135,197)

Net current assets

 

223,187

Total assets less current liabilities

 

236,360

Provisions for liabilities

(1,622)

Net assets

 

234,738

Capital and reserves

 

Called up share capital

9

1

Profit and loss account

234,737

Total equity

 

234,738

 

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised for issue by the director on 13 March 2025
 

.........................................

Mr A Baker
Director

 

Bloxd Ltd

Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86-90 Paul Street
London
EC2A 4NE

2

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

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 rates prevailing on the initial transaction dates.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 3 .

4

Taxation

Tax charged in the profit and loss account

24 May 2023 to 31 May 2024
 £

Current taxation

UK corporation tax

75,361

Deferred taxation

Arising from origination and reversal of timing differences

1,622

Tax expense in the profit and loss account

76,983

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

1,622

   

 
 

Bloxd Ltd

Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024

5

Intangible fixed assets

Trademarks
 £

Cost

Additions acquired separately

5,960

At 31 May 2024

5,960

Carrying amount

At 31 May 2024

5,960

6

Tangible fixed assets

Office equipment
 £

Cost

Additions

10,765

At 31 May 2024

10,765

Depreciation

Charge for the period

3,552

At 31 May 2024

3,552

Carrying amount

At 31 May 2024

7,213

 

Bloxd Ltd

Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024

7

Debtors: amounts falling due within one year

2024
£

Trade debtors

81,013

Other debtors

30,510

111,523

8

Creditors

2024
£

Amounts falling due within one year

Trade creditors

25,112

Taxation and social security

5,300

Other creditors

26,678

Accruals

2,200

Corporation tax

75,361

Director's loan account

546

135,197

9

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £0.000001 each

1,000,000

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

10

Share-based payments

Scheme details and movements

Share options were granted in the period to certain emplyees under an EMI share option scheme. The options are exercisable provided cerain criteria are met regarding continued emplyments and achievement of vertain targets.

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
Number

Granted during the period

37,647

Outstanding, end of period

37,647

The movements in the weighted average exercise price of share options during the period were as follows:

2024
£

Granted during the period

0.17

Outstanding, end of period

0.17

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.