Company registration number 08540961 (England and Wales)
BLACKCHAIR SOFTWARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BLACKCHAIR SOFTWARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BLACKCHAIR SOFTWARE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,012,956
3,037,755
Tangible assets
4
15,242
12,508
3,028,198
3,050,263
Current assets
Debtors
5
1,167,719
787,228
Cash at bank and in hand
281,705
287,644
1,449,424
1,074,872
Creditors: amounts falling due within one year
6
(895,263)
(932,157)
Net current assets
554,161
142,715
Total assets less current liabilities
3,582,359
3,192,978
Creditors: amounts falling due after more than one year
7
(31,934)
(111,708)
Provisions for liabilities
(2,422)
(2,422)
Net assets
3,548,003
3,078,848
Capital and reserves
Called up share capital
1,077
882
Share premium account
1,047,930
1,047,930
Profit and loss reserves
2,498,996
2,030,036
Total equity
3,548,003
3,078,848
BLACKCHAIR SOFTWARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 May 2025 and are signed on its behalf by:
Mr J T Owen
Mr N J U Timmins
Director
Director
Company registration number 08540961 (England and Wales)
BLACKCHAIR SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Blackchair Software Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1386 London Road, Leigh on Sea, Essex, England, SS9 2UJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 

 

Turnover represents the income receivable to the company net of value added tax on the following basis:

 

 

 

 

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
Will be maintained and will not lose value
Development costs
20%
BLACKCHAIR SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Development costs are being amortised evenly over their estimated useful life.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

BLACKCHAIR SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
16
3
Intangible fixed assets
Software
Development costs
Total
£
£
£
Cost
At 1 January 2024
15,895
8,321,991
8,337,886
Additions - internally developed
-
0
724,468
724,468
At 31 December 2024
15,895
9,046,459
9,062,354
Amortisation and impairment
At 1 January 2024
-
0
5,300,131
5,300,131
Amortisation charged for the year
-
0
749,267
749,267
At 31 December 2024
-
0
6,049,398
6,049,398
Carrying amount
At 31 December 2024
15,895
2,997,061
3,012,956
At 31 December 2023
15,895
3,021,860
3,037,755
BLACKCHAIR SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
68,306
Additions
7,815
At 31 December 2024
76,121
Depreciation and impairment
At 1 January 2024
55,798
Depreciation charged in the year
5,081
At 31 December 2024
60,879
Carrying amount
At 31 December 2024
15,242
At 31 December 2023
12,508
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
568,332
497,918
Unpaid share capital
195
-
0
Other debtors
565,722
259,977
Prepayments and accrued income
33,470
29,333
1,167,719
787,228
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
112,710
147,352
Taxation and social security
79,813
72,773
Other creditors
694,641
703,934
Accruals and deferred income
8,099
8,098
895,263
932,157
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
31,934
111,708
2024-12-312024-01-01falsefalsefalse29 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr J T OwenMr N J U Timmins085409612024-01-012024-12-31085409612024-12-31085409612023-12-3108540961core:ComputerSoftware2024-12-3108540961core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-12-3108540961core:ComputerSoftware2023-12-3108540961core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3108540961core:ComputerEquipment2024-12-3108540961core:ComputerEquipment2023-12-3108540961core:ShareCapital2024-12-3108540961core:ShareCapital2023-12-3108540961core:SharePremium2024-12-3108540961core:SharePremium2023-12-3108540961core:RetainedEarningsAccumulatedLosses2024-12-3108540961core:RetainedEarningsAccumulatedLosses2023-12-3108540961bus:Director12024-01-012024-12-3108540961bus:Director22024-01-012024-12-3108540961core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3108540961core:ComputerSoftware2024-01-012024-12-3108540961core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-01-012024-12-3108540961core:ComputerEquipment2024-01-012024-12-31085409612023-01-012023-12-3108540961core:ComputerSoftware2023-12-3108540961core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-31085409612023-12-3108540961core:ComputerSoftwarecore:InternallyGeneratedIntangibleAssets2024-01-012024-12-3108540961core:DevelopmentCostsCapitalisedDevelopmentExpenditurecore:InternallyGeneratedIntangibleAssets2024-01-012024-12-3108540961core:InternallyGeneratedIntangibleAssets2024-01-012024-12-3108540961core:ComputerEquipment2023-12-3108540961core:CurrentFinancialInstruments2024-12-3108540961core:CurrentFinancialInstruments2023-12-3108540961core:Non-currentFinancialInstruments2024-12-3108540961core:Non-currentFinancialInstruments2023-12-3108540961bus:PrivateLimitedCompanyLtd2024-01-012024-12-3108540961bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3108540961bus:FRS1022024-01-012024-12-3108540961bus:AuditExemptWithAccountantsReport2024-01-012024-12-3108540961bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP