Registered number
05576391
Bloc Digital Limited
Filleted Accounts
30 September 2024
Bloc Digital Limited
Registered number: 05576391
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 4 1,877 3,125
Tangible assets 5 131,761 174,084
133,638 177,209
Current assets
Stocks 363,090 306,483
Debtors 6 1,140,175 639,004
Cash at bank and in hand 665,242 765,431
2,168,507 1,710,918
Creditors: amounts falling due within one year 7 (1,154,679) (952,000)
Net current assets 1,013,828 758,918
Total assets less current liabilities 1,147,466 936,127
Creditors: amounts falling due after more than one year 8 (5,180) (35,126)
Provisions for liabilities (31,516) (23,015)
Net assets 1,110,770 877,986
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,110,670 877,886
Shareholders' funds 1,110,770 877,986
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr K Cox
Director
Approved by the board on 8 April 2025
Bloc Digital Limited
Notes to the Accounts
for the year ended 30 September 2024
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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 3 years on a straight line basis
Furniture, fittings & Equipment over 4 years on a straight line basis
Government grants
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate, which in the case of grants related to assets requires setting up the grant as deferred income.
Work in progress
The cost of work in progress comprises direct materials and direct labour costs and those overheads that have been incurred in bringing the projects to their present state. At each reporting date, the work in progress is assessed for impairment. If any impairment is necessary, the carrying amount is reduced and the impairment loss is recognised immediately in profit or loss.
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
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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.
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.
Foreign currency translation
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 rate on the date when the fair value is re-measured. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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.
Exceptional items
Exceptional items relates to a redundancy that was made in the year.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional item 2024 2023
£ £
Exceptional item 8,654 0
8,654 -
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 54 46
4 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 25,320
At 30 September 2024 25,320
Amortisation
At 1 October 2023 22,195
Provided during the year 1,248
At 30 September 2024 23,443
Net book value
At 30 September 2024 1,877
At 30 September 2023 3,125
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 9,744 481,534 491,278
Additions - 25,189 25,189
At 30 September 2024 9,744 506,723 516,467
Depreciation
At 1 October 2023 9,744 307,450 317,194
Charge for the year - 67,512 67,512
At 30 September 2024 9,744 374,962 384,706
Net book value
At 30 September 2024 - 131,761 131,761
At 30 September 2023 - 174,084 174,084
6 Debtors 2024 2023
£ £
Trade debtors 792,201 533,899
Amounts owed by group undertakings and undertakings in which the company has a participating interest 244,785 15,708
Corporation tax receivable 18,240 35,385
Other debtors 84,949 54,012
1,140,175 639,004
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 47,014 30,866
Amounts owed to group undertakings and undertakings in which the company has a participating interest 400,000 400,000
Taxation and social security costs 153,041 150,334
Other creditors 554,624 370,800
1,154,679 952,000
8 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 5,180 35,126
9 Events after the reporting date
The following dividends have been voted since the balance sheet date:
£nil (2023: £9,966) on ordinary shares.
10 Pension commitments
The company operates a defined contribution scheme. Total contributions in the year amounted to £45,504 (2023: £47,049).
11 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 373,382 148,388
12 Related party transactions
The company has taken advantage of the exemption in FRS102 Section 1A from disclosing transactions with other members of the group.
13 Controlling party
The company is a wholly owned subsidiary of Bloc Holdings Limited. The registered office is 2nd Floor, Enterprise Centre, Bridge Street, Derby, DE1 3LD.
14 Other information
Bloc Digital Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd floor, Enterprise Centre,
Bridge Street
Derby
Derbyshire
DE1 3LD
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