Registered number
SC558460
Blom Creative Limited
Filleted Accounts
31 January 2025
Blom Creative Limited
Registered number: SC558460
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 3,900 5,850
Tangible assets 4 7,726 7,158
11,626 13,008
Current assets
Stocks 32,000 84,000
Debtors 5 70,934 12,236
Cash at bank and in hand 191,823 191,188
294,757 287,424
Creditors: amounts falling due within one year 6 (117,627) (135,970)
Net current assets 177,130 151,454
Total assets less current liabilities 188,756 164,462
Creditors: amounts falling due after more than one year 7 (12,137) (26,781)
Provisions for liabilities (1,360) (1,360)
Net assets 175,259 136,321
Capital and reserves
Called up share capital 10 10
Profit and loss account 175,249 136,311
Shareholder's funds 175,259 136,321
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Janis Blom
Director
Approved by the board on 25 March 2025
Blom Creative Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill and Franchise Fee:
Cost
At 1 February 2024 19,500
At 31 January 2025 19,500
Amortisation
At 1 February 2024 13,650
Provided during the year 1,950
At 31 January 2025 15,600
Net book value
At 31 January 2025 3,900
At 31 January 2024 5,850
Goodwill and Franchise Fee is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 February 2024 2,464 26,895 29,359
Re-statement - 2,000 2,000
At 31 January 2025 2,464 28,895 31,359
Depreciation
At 1 February 2024 2,029 20,172 22,201
Charge for the year 87 1,345 1,432
At 31 January 2025 2,116 21,517 23,633
Net book value
At 31 January 2025 348 7,378 7,726
At 31 January 2024 435 6,723 7,158
5 Debtors 2025 2024
£ £
Trade debtors 21,446 10,400
Taxation and social security costs 12,488 -
Other debtors 37,000 1,836
70,934 12,236
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 9,000 9,000
Obligations under finance lease and hire purchase contracts 1,407 3,378
Trade creditors (7) 5,328
Accrued charges 31,961 31,393
Taxation and social security costs 75,159 59,090
Other creditors 107 27,781
117,627 135,970
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 1,501 12,000
Obligations under finance lease and hire purchase contracts 10,636 14,781
12,137 26,781
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Janis Blom
Director's loan - 37,000 - 37,000
- 37,000 - 37,000
9 Controlling party
Janis Blom, the director, held a 100% beneficial interest in the company's share capital.
10 Other information
Blom Creative Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
272 Bath Street
Glasgow
G2 4JR
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