Registered number
03030363
Blackadder International Ltd
Filleted Accounts
31 March 2025
Blackadder International Ltd
Registered number: 03030363
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Investments 3 704,865 598,021
Current assets
Stocks 2,065,452 1,715,736
Debtors 4 55,677 353,403
Cash at bank and in hand 4,952 36,419
2,126,081 2,105,558
Creditors: amounts falling due within one year 5 (564,286) (712,777)
Net current assets 1,561,795 1,392,781
Total assets less current liabilities 2,266,660 1,990,802
Creditors: amounts falling due after more than one year 6 (1,271,249) (1,170,998)
Net assets 995,411 819,804
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 985,411 809,804
Shareholders' funds 995,411 819,804
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R M Tucek
Director
Approved by the board on 8 August 2025
Blackadder International Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 4
3 Investments 2025 2024
£ £
Investments 16,334 16,335
Loans 688,531 581,687
At 31 March 2025 704,865 598,022
Investments consist of wolly owned interests in companies involved in the same trade: Jolly Good Brands Limited £3,334 and Abereen Distillers Limited £13,000. Durng the year the company advanced loans totalling £106,844 to Aberdeen Distillers Limited
4 Debtors 2025 2024
£ £
Trade debtors 28,953 284,498
Corporation tax repayable - 47,408
Other debtors 26,724 21,497
55,677 353,403
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 352,918 352,918
Trade creditors 80,136 18,404
Amount due to directors 78,803 113,859
Amounts due to subsidary companies - 188,396
Taxation and social security costs 31,428 -
Other creditors 21,001 39,200
564,286 712,777
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 1,271,249 1,170,998
The company has a stock financing facility in place with Ferovinum Ltd. This involves a sale and repurchase facility over a defined term for tranches of stock it brings into the arrangement where the tite to the stock remains with Ferovinum Ltd over the period in which the financing is in place. The company repurchases stocks as it requires to support its trading duing the term (an which reduces the outstanding debt) but is obliged to repurchase anything remaining at the end of the term. The final exit dates are set within the yer ending 31 March 2027. The company incurs an initial 1% fee on funds released on tranches that are brought into the arrangement and then monthly fees of 0.413% related to the running balance of debts remaining during the year.
7 Financial Commitments, guarantees and contingent liabilities
A floating charge over all the property or undertaking of the company is in place in respect of the liabilities contained in Note 6 in favour of Ferovinum Ltd
7 Other information
Blackadder International Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Pear Tree House
Chapel Lane
Hastings
TN35 4QX
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