Registered number: 14250024
BLOCKTHREE HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 MARCH 2024
Fletcher & Partners
Chartered Accountants
Salisbury
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BLOCKTHREE HOLDINGS LIMITED
REGISTERED NUMBER: 14250024
BALANCE SHEET
AS AT 30 MARCH 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 1
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BLOCKTHREE HOLDINGS LIMITED
REGISTERED NUMBER: 14250024
BALANCE SHEET (CONTINUED)
AS AT 30 MARCH 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.
The notes on pages 5 to 8 form part of these financial statements.
Page 2
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BLOCKTHREE HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 MARCH 2024
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Comprehensive income for the period
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Other comprehensive income for the period
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Total comprehensive income for the period
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Total transactions with owners
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The notes on pages 5 to 8 form part of these financial statements.
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Page 3
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BLOCKTHREE HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
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Comprehensive income for the period
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Other comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Shares issued during the period
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Total transactions with owners
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The notes on pages 5 to 8 form part of these financial statements.
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Page 4
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BLOCKTHREE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
Blockthree Holdings Limited is a private company limited by shares and incorporated on 22 July 2022 in England and Wales with the registered number 14250024. Its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Investments in subsidiaries are measured at cost less accumulated impairment.
Page 5
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BLOCKTHREE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including the directors, during the period was as follows:
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Period from 22 July 2022 to
31 March
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Investments in subsidiary companies
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Page 6
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BLOCKTHREE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
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Due after more than one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to associates
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Accruals and deferred income
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Page 7
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BLOCKTHREE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
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Creditors: Amounts falling due after more than one year
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Allotted, called up and fully paid
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998,432 (2023 - 998,430) Ordinary shares of £0.001 each
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75,000 (2023 - 75,000) A shares shares of £0.001 each
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Related party transactions
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At the end of the year, all the shareholders in Five Islands Capital Limited transferred their shares to Blockthree Holdings Limited, which owned 100% of the shares in Five Islands Capital Limited. The ex-shareholders of Five Islands Capital Limited received in exchange for their shares, the same percentage holding in Blockthree Holdings Limited. Blockthree Holdings Limited sold 100% of their holding in Five Islands Capital Limited on 30 March 2024 to Mr A Lubin.
Five Islands Capital Limited held 100% of the ordinary share capital of Pinnaclepay Group Limited, 5I Digital D.O.O. Fiveiq Limited, Blockthree Europe D.O.O. and Blockthree Technologies Limited. Pinnaclepay Group Limited registered office is Unit B1 Hercules Office Park, Bird Hall Lane, Cheadle, GreaterManchester, SK3 0UX. 5I Digital D.O.O. and Blockthree Europe D.O.O. registered office is Radnicka cesta 48 10000, Zagreb, Grad Zagreb, Croatia. Fiveiq Limited registered office is FD Ground Floor, Accelerator Building, Masdar City Services, Masdar City, PO Box 54115, Abu Dhabi, United Arab Emirates. 5i Digital D.O.O. was sold to Mr A Lubin during the year and Blockthree Europe D.O.O. and Blockthree Technologies Limited was transferred to Blockthree Holdings Limited on 30 March 2024.
Five Islands Capital Limited owed Dexapoint (UK) Limited £442,961 at the end of the year, and the loan was novated to Blockthree Holdings Limited at this date. There is no interest charge in the year. Dexapoint (UK) Limited is owned by one of Five Islands Capital Limited's directors, Mr A Lubin and Mr N Lubin an ex-director. This load was transferred to Blockthree Holdings Limited on 30 March 2024.
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Page 8
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