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REGISTERED NUMBER: SC426874 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Bellrock Technology Limited

Bellrock Technology Limited (Registered number: SC426874)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Bellrock Technology Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A J Brown
S J Langmead
Prof S D J McArthur
S C Morris





REGISTERED OFFICE: 15 Candleriggs Square
Glasgow
G1 1TQ





REGISTERED NUMBER: SC426874 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Bellrock Technology Limited (Registered number: SC426874)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,012,438 1,195,607
Tangible assets 5 8,187 10,290
1,020,625 1,205,897

CURRENT ASSETS
Debtors 6 684,215 618,080
Cash at bank 23,916 52,061
708,131 670,141
CREDITORS
Amounts falling due within one year 7 822,063 624,685
NET CURRENT (LIABILITIES)/ASSETS (113,932 ) 45,456
TOTAL ASSETS LESS CURRENT
LIABILITIES

906,693

1,251,353

CREDITORS
Amounts falling due after more than one year 8 (25,000 ) (33,333 )

PROVISIONS FOR LIABILITIES (161,592 ) (79,832 )
NET ASSETS 720,101 1,138,188

CAPITAL AND RESERVES
Called up share capital 17 17
Share premium 1,427,469 1,427,469
Retained earnings (707,385 ) (289,298 )
720,101 1,138,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Bellrock Technology Limited (Registered number: SC426874)

Statement of Financial Position - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





A J Brown - Director


Bellrock Technology Limited (Registered number: SC426874)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Bellrock Technology Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
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:

Development costs 20% on cost
Trademark costs 10% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Computer equipments - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bellrock Technology Limited (Registered number: SC426874)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 January 2024 2,015,005
Additions 245,330
At 31 December 2024 2,260,335
AMORTISATION
At 1 January 2024 819,398
Amortisation for year 428,499
At 31 December 2024 1,247,897
NET BOOK VALUE
At 31 December 2024 1,012,438
At 31 December 2023 1,195,607

5. TANGIBLE FIXED ASSETS
Short Computer
leasehold equipments Totals
£    £    £   
COST
At 1 January 2024 1,275 46,565 47,840
Additions - 4,135 4,135
Disposals (1,275 ) (23,190 ) (24,465 )
At 31 December 2024 - 27,510 27,510
DEPRECIATION
At 1 January 2024 1,275 36,275 37,550
Charge for year - 6,238 6,238
Eliminated on disposal (1,275 ) (23,190 ) (24,465 )
At 31 December 2024 - 19,323 19,323
NET BOOK VALUE
At 31 December 2024 - 8,187 8,187
At 31 December 2023 - 10,290 10,290

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 592,246 486,598
Tax 81,626 113,414
Prepayments and accrued income 10,343 18,068
684,215 618,080

Bellrock Technology Limited (Registered number: SC426874)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 55,481 46,224
Social security and other taxes 15,296 24,293
VAT 108,311 103,081
Other creditors 51,746 24,705
Directors' current accounts 30,000 -
Accruals and deferred income 531,558 401,094
Accrued expenses 19,671 15,288
822,063 624,685

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 2-5 years 10,000 18,333
Other creditors 15,000 15,000
25,000 33,333

9. RELATED PARTY DISCLOSURES

The company has an outstanding loan from Strathclyde University, originally provided in a prior period. The loan is unsecured, interest-free, and repayable on demand. There are no fixed terms of repayment, and the company may repay the loan in part or in full at any time without penalty.