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Registration number: 12893055

Nascent Blockchain Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Nascent Blockchain Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Nascent Blockchain Ltd

Company Information

Directors

M A Huggins

L Brobbin

Registered office

6 Eyre Chapel Rise
Chesterfield
Derbyshire
S41 7QX

 

Nascent Blockchain Ltd

(Registration number: 12893055)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

11,405

14,727

Tangible assets

5

3,764

5,357

 

15,169

20,084

Current assets

 

Debtors

6

-

1,472

Cash at bank and in hand

 

894

100

 

894

1,572

Creditors: Amounts falling due within one year

7

(2,095)

(1,915)

Net current liabilities

 

(1,201)

(343)

Total assets less current liabilities

 

13,968

19,741

Provisions for liabilities

(491)

(1,018)

Net assets

 

13,477

18,723

Capital and reserves

 

Called up share capital

2

2

Retained earnings

13,475

18,721

Shareholders' funds

 

13,477

18,723

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 June 2025 and signed on its behalf by:
 

.........................................
M A Huggins
Director

 

Nascent Blockchain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 12893055.

The address of its registered office is:
6 Eyre Chapel Rise
Chesterfield
Derbyshire
S41 7QX
England

These financial statements were authorised for issue by the Board on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of software and crypto currency trading services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Foreign currency transactions and balances

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.

 

Nascent Blockchain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Intangible assets

Intangible assets are held under the revaluation model. Assets are initially recognised at cost and then revalued at the period end using the market rate applicable at that date.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

Nascent Blockchain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 October 2023

14,727

14,727

Disposals

(4,252)

(4,252)

Foreign exchange movements

930

930

At 30 September 2024

11,405

11,405

Amortisation

Carrying amount

At 30 September 2024

11,405

11,405

At 30 September 2023

14,727

14,727

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

8,381

8,381

Additions

430

430

Disposals

(1,534)

(1,534)

At 30 September 2024

7,277

7,277

Depreciation

At 1 October 2023

3,024

3,024

Charge for the year

1,691

1,691

Eliminated on disposal

(1,202)

(1,202)

At 30 September 2024

3,513

3,513

Carrying amount

At 30 September 2024

3,764

3,764

At 30 September 2023

5,357

5,357

 

Nascent Blockchain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

2024
£

2023
£

Income tax asset

-

1,472

-

1,472

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,014

870

Accruals and deferred income

 

1,081

1,045

 

2,095

1,915

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,014

870

Other borrowings include unsecured amounts due to Directors.

9

Related party transactions

Other transactions with Directors

At the year end, the Directors were owed £1,014 (2023: £559) by the Company. The amount is unsecured, interest-free and repayable on demand.