Company registration number 10782504 (England and Wales)
BLACKTAIL GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
BLACKTAIL GROUP LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
BLACKTAIL GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Trade and other receivables
2
13,086
26,505
Current liabilities
3
(17,365)
(15,856)
Net current (liabilities)/assets
(4,279)
10,649
Non-current liabilities
4
(18,592)
(28,542)
Net liabilities
(22,871)
(17,893)
Equity
Called up share capital
5
2,000
2,000
Retained earnings
(24,871)
(19,893)
Total equity
(22,871)
(17,893)
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 13 August 2025
P Cooney
Director
Company registration number 10782504 (England and Wales)
BLACKTAIL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Blacktail Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, 3 Dorset Rise, London, EC4Y 8EN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2
Going concern
At 31 May 2024 the company had net liabilities of £22,871. Notwithstanding this, the director has reviewed the company’s financing facilities and at the time of approving the financial statements, he has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director has adopted the going concern basis of accounting in preparing the financial statements.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
BLACKTAIL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including other payables and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
7,215
3,588
Other receivables
5,871
22,917
13,086
26,505
3
Current liabilities
2024
2023
£
£
Bank loans and overdrafts
12,365
11,356
Other payables
5,000
4,500
17,365
15,856
4
Non-current liabilities
2024
2023
£
£
Bank loans and overdrafts
18,592
28,542
BLACKTAIL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and not fully paid
1,000 Ordinary Class A Shares of £1 each
1,000
1,000
1,000 Ordinary Class B Shares of £1 each
1,000
1,000
2,000
2,000
6
Related party transactions
At 1 June 2023, the director owed the company £22,917. During the year, the company was repaid £18,040 by the director and charged interest of £404. At 31 May 2024, the director owed the company £5,281.