Company registration number 13677696 (England and Wales)
LUNAR BLOCKCHAIN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LUNAR BLOCKCHAIN LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
LUNAR BLOCKCHAIN LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
218,775
249,451
Current assets
Debtors
4
24,066
42,673
Cash at bank and in hand
8,986
5,872
33,052
48,545
Creditors: amounts falling due within one year
5
(22,242)
(13,589)
Net current assets
10,810
34,956
Total assets less current liabilities
229,585
284,407
Creditors: amounts falling due after more than one year
6
(322,047)
(316,237)
Net liabilities
(92,462)
(31,830)
Capital and reserves
Called up share capital
7
120
120
Profit and loss reserves
(92,582)
(31,950)
Total equity
(92,462)
(31,830)
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 15 August 2025 and are signed on its behalf by:
Mr R J Garbutt
Director
Company registration number 13677696 (England and Wales)
LUNAR BLOCKCHAIN LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
120
(6,078)
(5,958)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(25,872)
(25,872)
Balance at 31 December 2023
120
(31,950)
(31,830)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(60,632)
(60,632)
Balance at 31 December 2024
120
(92,582)
(92,462)
LUNAR BLOCKCHAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Lunar Blockchain Limited is a private company limited by shares incorporated in England and Wales, registration number 13677696. The registered office and principal place of business is Unit 2 Reynolds House, 4 Archway, Manchester, M15 5RL.
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
Atruet the reporting date, the company's liabilities exceed its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.
1.3
Turnover
Turnover represents amounts recognised by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the services provided in relation to the mining of cryptocurrency.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:
Plant and equipment
10% straight line
Computers
20% straight line
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank and in hand.
LUNAR BLOCKCHAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
1.9
Robin Garbutt and Patrick Doyle hold a charge, dated 1st February 2022, creating a fixed and floating charge over the property or undertaking of the entity. This charge contains a negative pledge and relates to shareholders' loans provided to the group.
1.10
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
LUNAR BLOCKCHAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
306,778
Depreciation and impairment
At 1 January 2024
57,327
Depreciation charged in the year
30,676
At 31 December 2024
88,003
Carrying amount
At 31 December 2024
218,775
At 31 December 2023
249,451
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
11,113
Amounts owed by group undertakings
29
29
Other debtors
24,037
31,531
24,066
42,673
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
24
Trade creditors
16,988
4,010
Taxation and social security
4,742
Other creditors
5,254
4,813
22,242
13,589
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
322,047
316,237
LUNAR BLOCKCHAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
120
120
120
120
8
Related party transactions
Transactions with related parties
Included within debtors is an amount of £16,275 (2023: £23,317) owed from a company under common control. This balance represents an interest free loan, repayable on demand.
9
Parent company
The ultimate controlling party are the shareholders of Lunar Green Holdings Limited by virtue of their controlling interest in the entity.