REGISTERED NUMBER: 07353109 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Black Eye Project Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J A R Lobley

Mr T F Storer

REGISTERED OFFICE:

The Paint Factory

163 Rutland Road

Sheffield

South Yorkshire

S3 9PT

REGISTERED NUMBER:

07353109 (England and Wales)

ACCOUNTANTS:

Lishmans LLP

16-18 Station Road

Chapeltown

Sheffield

South Yorkshire

S35 2XH

FIXED ASSETS

Tangible assets

4

131,169

152,093

CURRENT ASSETS

Stocks

20,570

107,437

Debtors

5

110,422

158,438

Cash at bank

8,773

-

139,765

265,875

CREDITORS

Amounts falling due within one year

6

179,404

182,222

NET CURRENT (LIABILITIES)/ASSETS

(39,639

)

83,653

TOTAL ASSETS LESS CURRENT LIABILITIES

91,530

235,746

CREDITORS

Amounts falling due after more than one year

7

(9,570

)

(18,404

)

PROVISIONS FOR LIABILITIES

8

(24,922

)

(28,898

)

NET ASSETS

57,038

188,444

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

57,036

188,442

SHAREHOLDERS' FUNDS

57,038

188,444

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:

Mr T F Storer - Director

Mr J A R Lobley - Director

1.	STATUTORY INFORMATION

The Black Eye Project Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance basis

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

244,611

Additions

17,507

At 31 December 2024

262,118

DEPRECIATION

At 1 January 2024

92,518

Charge for year

38,431

At 31 December 2024

130,949

NET BOOK VALUE

At 31 December 2024

131,169

At 31 December 2023

152,093

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

105,686

76,883

Other debtors

4,736

81,555

110,422

158,438

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

7,241

Trade creditors

9,806

27,188

Taxation and social security

94,193

86,862

Other creditors

75,405

60,931

179,404

182,222

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

9,570

18,404

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

24,922

28,898

Deferred

tax

£

Balance at 1 January 2024

28,898

Credit to Income Statement during year

(3,976

)

Profit and loss

Balance at 31 December 2024

24,922

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Black Eye Holdings Limited.

The Black Eye Project Limited is a wholly owned subsidiary of Black Eye Holdings Limited, who own 100% of the issued share capital.

10.	RELATED PARTY TRANSACTIONS

At 31.12.2024, The Black Eye Project Limited owed the sum of £351 to Black Eye Holdings Limited, which shares common directors.