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No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
4,137,925
10,795
4,148,720
4,148,720
4,137,925
xbrli:pure
xbrli:shares
iso4217:GBP
13277394
2024-01-01
2024-12-31
13277394
2024-12-31
13277394
2023-12-31
13277394
2023-01-01
2023-12-31
13277394
2023-12-31
13277394
2022-12-31
13277394
bus:OrdinaryShareClass1
2024-01-01
2024-12-31
13277394
bus:Director1
2024-01-01
2024-12-31
13277394
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2024-12-31
13277394
core:WithinOneYear
2023-12-31
13277394
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2024-12-31
13277394
core:AfterOneYear
2023-12-31
13277394
core:ShareCapital
2024-12-31
13277394
core:ShareCapital
2023-12-31
13277394
core:SharePremium
2024-12-31
13277394
core:SharePremium
2023-12-31
13277394
core:OtherReservesSubtotal
2024-12-31
13277394
core:OtherReservesSubtotal
2023-12-31
13277394
core:RetainedEarningsAccumulatedLosses
2024-12-31
13277394
core:RetainedEarningsAccumulatedLosses
2023-12-31
13277394
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core:Non-currentFinancialInstruments
2023-12-31
13277394
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core:Non-currentFinancialInstruments
2024-12-31
13277394
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
13277394
core:Non-currentFinancialInstruments
2024-12-31
13277394
core:Non-currentFinancialInstruments
2023-12-31
13277394
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2024-01-01
2024-12-31
13277394
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2024-01-01
2024-12-31
13277394
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2024-01-01
2024-12-31
13277394
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
13277394
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2024-01-01
2024-12-31
13277394
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2024-12-31
13277394
bus:OrdinaryShareClass1
2023-12-31
COMPANY REGISTRATION NUMBER:
13277394
|
Blockstar Holdings Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Blockstar Holdings Limited |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Investments |
4 |
|
4,148,720 |
4,137,925 |
|
|
|
|
|
Current assets
|
Debtors |
5 |
15,962,658 |
|
10,420,587 |
|
Cash at bank and in hand |
177,057 |
|
21,860 |
|
------------- |
|
------------- |
|
16,139,715 |
|
10,442,447 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
290,909 |
|
95,205 |
|
------------- |
|
------------- |
|
Net current assets |
|
15,848,806 |
10,347,242 |
|
|
------------- |
------------- |
|
Total assets less current liabilities |
|
19,997,526 |
14,485,167 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
6,015,198 |
211,308 |
|
|
------------- |
------------- |
|
Net assets |
|
13,982,328 |
14,273,859 |
|
|
------------- |
------------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
9 |
|
496 |
495 |
|
Share premium account |
|
13,967,170 |
13,945,618 |
|
Other reserves |
|
550,601 |
539,806 |
|
Profit and loss account |
|
(
535,939) |
(
212,060) |
|
|
------------- |
------------- |
|
Shareholders funds |
|
13,982,328 |
14,273,859 |
|
|
------------- |
------------- |
|
|
|
|
|
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 comprehensive income has not been delivered.
For the year ending 31 December 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 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
15 July 2025
, and are signed on behalf of the board by:
Company registration number:
13277394
|
Blockstar Holdings Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 316A Beaulah Hill, London, SE19 3HF, United Kingdom.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Share-based payments
The company operates an equity-settled share-based payment scheme whereby employees of a subsidiary are granted options over shares in the parent company. The fair value of the share options granted is measured at the grant date and is recognized as an expense in the subsidiary’s financial statements over the vesting period. The parent company accounts for the grant as a capital contribution to the subsidiary, with a corresponding credit to equity.
Going concern
The financial statements have been prepared on a going concerned basis. The Directors have assessed the Company's ability to continue as a going concern and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 |
4,137,925 |
|
Additions |
10,795 |
|
------------ |
|
At 31 December 2024 |
4,148,720 |
|
------------ |
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
------------ |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
4,148,720 |
|
------------ |
|
At 31 December 2023 |
4,137,925 |
|
------------ |
|
|
The company owns 100% of the Ordinary share capital of Zumo Financial Services Limited, whose principal activity is that of development of software. It also owns 100% of the Ordinary share capital of Zumo Technologies Limited, whose principal activity is that of development of software.
During the financial year, an expense of £10,795 was recognized in respect of share-based payment transactions. This expense was recorded in the subsidiary’s financial statements, with a corresponding increase in equity in the parent entity, reflecting a capital contribution to the subsidiary.
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed by group undertakings |
15,961,194 |
10,419,797 |
|
Other debtors |
1,464 |
790 |
|
------------- |
------------- |
|
15,962,658 |
10,420,587 |
|
------------- |
------------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
4,525 |
– |
|
Amounts owed to group undertakings |
– |
8,014 |
|
Other creditors |
286,384 |
87,191 |
|
--------- |
-------- |
|
290,909 |
95,205 |
|
--------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Convertible loans |
6,015,198 |
211,308
|
|
------------ |
--------- |
|
|
|
In December 2024 the company issued further convertible loan notes worth £5,803,890 (2023: £211,308). The loan notes are unsecured and interest is charged at a rate of 7% per annum. The loan notes and accrued interest are convertible into shares in the company in December 2026, unless conversion is triggered earlier following a conversion event. Given the fixed-for-fixed criteria is not met, i.e. the conversion is not a fixed amount of loan note for a fixed number of the company's own equity instruments, the loan notes have been recognised as a a liability.
8.
Share-based payments
Certain employees of Zumo Financial Services had been granted options to subscribe for shares under share option schemes. Under the scheme, employees of Zumo Financial Services are granted share options over shares in
Blockstar Holdings Limited
. The estimated fair values were calculated by applying the Black-Scholes option pricing model.
The model inputs were:
Share price at grant date
£1.11-£15.87
Exercise price
£1.1-£8.67
Expected volatility
70%
Expected life
10 years
Risk free interest rate
0.759%-4.13%
Dividend yield
0%
The fair value of equity-settled share-based payments at date of grant was estimated using the Black Scholes valuation model as this model, taking into account the terms and conditions of the share options granted.
Certain employees of Zumo Financial Services had been granted options to subscribe for shares under share option schemes. Under the scheme, employees of Zumo Financial Services are granted share options over shares in
Blockstar Holdings Limited
. The estimated fair values were calculated by applying the Black-Scholes option pricing model.
The model inputs were:
Share price at grant date
£1.11-£15.87
Exercise price
£1.1-£8.67
Expected volatility
70%
Expected life
10 years
Risk free interest rate
0.759%-4.13%
Dividend yield
0%
The fair value of equity-settled share-based payments at date of grant was estimated using the Black Scholes valuation model as this model, taking into account the terms and conditions of the share options granted.
9.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 0.0001 each |
4,957,761 |
496 |
4,951,756 |
495 |
|
------------ |
---- |
------------ |
---- |
|
|
|
|
|
10.
Related party transactions
The company has taken advantage of the exemption under FRS 102 33.1A from disclosing transactions with wholly-owned members of the group.