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Registered number: 12232064









BLACK INK PROJECTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
BLACK INK PROJECTS LTD
REGISTERED NUMBER: 12232064

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,212
4,282

Current assets
  

Debtors: amounts falling due within one year
 5 
1,072,846
232,671

Current asset investments
  
85,000
-

Bank and cash balances
  
629,398
741,814

  
1,787,244
974,485

Creditors: amounts falling due within one year
 7 
(651,554)
(356,115)

Net current assets
  
 
 
1,135,690
 
 
618,370

Net assets
  
1,138,902
622,652


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,138,900
622,650

  
1,138,902
622,652


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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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 21 May 2025.




H Gaynor
M Dixon
Director
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
BLACK INK PROJECTS LTD
REGISTERED NUMBER: 12232064
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024


Page 2

 
BLACK INK PROJECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Black Ink Projects Ltd is a private company limited by shares and registered in England & Wales. The address of its registered office is 10 Shortlands Close, Helmdon, Brackley, England, NN13 5QR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

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 and value added tax. 
Revenue from sale of printed advertising and packaging materials are recognised when the work has been completed, product delivered to customer and significant risk and rewards of ownership has been transferred to customer.
Revenue from a consultancy service is recognised in the period in which the services are provided and when 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.

Page 3

 
BLACK INK PROJECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Computer equipment
-
25%
reducing balance

Page 4

 
BLACK INK PROJECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.11

Creditors

Short term creditors are measured at the transaction price.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2023 - 3).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 October 2023
7,436



At 30 September 2024

7,436



Depreciation


At 1 October 2023
3,154


Charge for the period on owned assets
1,070



At 30 September 2024

4,224



Net book value



At 30 September 2024
3,212



At 30 September 2023
4,282

Page 5

 
BLACK INK PROJECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
722,256
216,659

Amounts owed by group undertakings
298,715
-

Other debtors
51,875
16,012

1,072,846
232,671



6.


Current asset investments

2024
2023
£
£

Deposits
85,000
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
485,666
216,810

Corporation tax
148,757
126,545

Other taxation and social security
6,802
2,725

Other creditors
629
5,685

Accruals
9,700
4,350

651,554
356,115



8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £65,612 (2023 - £34,737). Contributions totalling £1,244 (2023 - £639) were payable to the fund at the reporting date and are included in creditors.


9.


Related party transactions

At the reporting date, the company was owed £47,777 (2023: owed to £5,685) by its directors which has been repaid in full within nine months after the reporting date. 

Page 6

 
BLACK INK PROJECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10.


Controlling party

The immediate and ultimate parent company is Black Ink Inc Limited.

 
Page 7