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COMPANY REGISTRATION NUMBER: 12472314
Boldspace Group Limited
Filleted Unaudited Financial Statements
31 March 2025
Boldspace Group Limited
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Boldspace Group Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Intangible assets
5
632,092
696,194
Tangible assets
6
71,818
86,185
---------
---------
703,910
782,379
Current assets
Debtors
7
1,058,556
954,136
Cash at bank and in hand
32,933
126,060
------------
------------
1,091,489
1,080,196
Creditors: amounts falling due within one year
8
904,148
837,925
------------
------------
Net current assets
187,341
242,271
---------
------------
Total assets less current liabilities
891,251
1,024,650
Creditors: amounts falling due after more than one year
9
229,132
79,514
---------
------------
Net assets
662,119
945,136
---------
------------
Capital and reserves
Called up share capital
3
3
Share premium account
506,742
506,742
Profit and loss account
155,374
438,391
---------
---------
Shareholders funds
662,119
945,136
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Boldspace Group Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 17 June 2025 , and are signed on behalf of the board by:
Mr M N Robb
Director
Company registration number: 12472314
Boldspace Group Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 119 Wardour Street, London, W1F 0UW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangibles
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 41 (2024: 40 ).
5. Intangible assets
Intangibles
Digital assets
Total
£
£
£
Cost
At 1 April 2024
1,654,337
8,000
1,662,337
Additions
Additions from internal developments
571,508
571,508
------------
-------
------------
At 31 March 2025
2,225,845
8,000
2,233,845
------------
-------
------------
Amortisation
At 1 April 2024
966,143
966,143
Charge for the year
635,610
635,610
------------
-------
------------
At 31 March 2025
1,601,753
1,601,753
------------
-------
------------
Carrying amount
At 31 March 2025
624,092
8,000
632,092
------------
-------
------------
At 31 March 2024
688,194
8,000
696,194
------------
-------
------------
6. Tangible assets
Plant and machinery
Office equipment
Total
£
£
£
Cost
At 1 April 2024
3,106
137,578
140,684
Additions
22,998
22,998
-------
---------
---------
At 31 March 2025
3,106
160,576
163,682
-------
---------
---------
Depreciation
At 1 April 2024
712
53,787
54,499
Charge for the year
776
36,589
37,365
-------
---------
---------
At 31 March 2025
1,488
90,376
91,864
-------
---------
---------
Carrying amount
At 31 March 2025
1,618
70,200
71,818
-------
---------
---------
At 31 March 2024
2,394
83,791
86,185
-------
---------
---------
7. Debtors
2025
2024
£
£
Trade debtors
823,690
727,819
Other debtors
234,866
226,317
------------
---------
1,058,556
954,136
------------
---------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
263,691
301,352
Trade creditors
156,217
129,273
Social security and other taxes
142,077
107,855
Other creditors
342,163
299,445
---------
---------
904,148
837,925
---------
---------
At the balance sheet date, GLIF SD LP hold a fixed and floating charge over the property or undertakings of the company.
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
229,132
79,514
---------
--------