| REGISTERED NUMBER: |
| Blackthorn (Midlands) Limited |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| REGISTERED NUMBER: |
| Blackthorn (Midlands) Limited |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| Blackthorn (Midlands) Limited (Registered number: 05071765) |
| Contents of the Financial Statements |
| for the year ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Blackthorn (Midlands) Limited |
| Company Information |
| for the year ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and |
| Statutory Auditor |
| 28 Eaton Avenue |
| Matrix Office Park |
| Buckshaw Village |
| Chorley |
| Lancashire |
| PR7 7NA |
| Blackthorn (Midlands) Limited (Registered number: 05071765) |
| Balance Sheet |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 4 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Blackthorn (Midlands) Limited (Registered number: 05071765) |
| Notes to the Financial Statements |
| for the year ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Blackthorn (Midlands) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The amounts in the financial statements have been rounded to the nearest £1. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements are prepared on a going concern basis which the directors believe to be appropriate for the following reasons. |
| The parent company has committed to provide financial support to this company for the foreseeable future, should this be required. The directors do not prepare formal forecasts, but instead rely on their market knowledge and experience to monitor future cashflow requirements. The Group is in the process of realising various development assets, which will supplement their operating cashflows and enable them to reduce their reliance on bank and hire purchase funding. |
| The forecasts also include additional funding as required to be provided by the shareholders in the event of delays in the completion of other projects. |
| Based on the above indications, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. |
| The financial statements do not include any adjustments that would result from this basis of preparation being inappropriate. |
| Turnover |
| Turnover represents net invoiced sales of properties and rent received, excluding value added tax. |
| Stocks |
| Work in progress is valued on the basis of direct costs plus attributable overheads based on the normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
| Financial instruments |
| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. |
| Blackthorn (Midlands) Limited (Registered number: 05071765) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Work-in-progress |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Accrued expenses |
| 7. | SECURED DEBTS |
| There is a charge dated 19 July 2021 over the property held by the company. The extent of the liability under the charge has been recognised as a provision in these financial statements, as the circumstances meet the recognition criteria under FRS 102 "The Financial Reporting Standard |
| applicable in the UK and Republic of Ireland". |
| Blackthorn (Midlands) Limited (Registered number: 05071765) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary "A" | £1 | 500 | 500 |
| Ordinary "B" | £1 | 500 | 500 |
| 1,000 | 1,000 |
| The shares have attached to them full voting, dividend and capital distribution rights. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is Ruttle Group Limited. The accounts of this company are consolidated into Ruttle Group Limited, copies of which are available from their registered office at Lancaster House, Ackhurst Road, Chorley, PR7 1NH. |
| The Group is ultimately controlled by GH Ruttle, the director of the ultimate parent company. |