Blitz Corporation Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02776816

Blitz Corporation Limited

Filleted Unaudited Financial Statements

31 December 2024

Blitz Corporation Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Blitz Corporation Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	5,060	–
Tangible assets	6	8,309	11,431
		--------	--------
		13,369	11,431

Current assets

Stocks		983,112	1,085,303
Debtors	7	41,919	46,976
Cash at bank and in hand		2,008	933
		------------	------------
		1,027,039	1,133,212

Creditors: amounts falling due within one year	8	248,882		423,745
		------------		------------
Net current assets			778,157	709,467
			---------	---------
Total assets less current liabilities			791,526	720,898

Creditors: amounts falling due after more than one year	9	68,564	185,988
		---------	---------
Net assets		722,962	534,910
		---------	---------

Capital and reserves

Called up share capital	200	200
Share premium account	199,900	199,900
Profit and loss account	522,862	334,810
	---------	---------
Shareholders funds	722,962	534,910
	---------	---------

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 income and retained earnings 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 .

Blitz Corporation Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

M Gharbaoui

Director

Company registration number: 02776816

Blitz Corporation 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 Unit 3 Invicta Business Park, London Road, Wrotham, Sevenoaks, Kent, TN15 7RJ, England.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors confirm that they have no intention of liquidating the company or ceasing trading and will continue to make available sufficient funding as required to ensure the company retains sufficient working capital to continue trading for the foreseeable future. As such, the directors have concluded that there are no significant doubts about the company's ability to continue as a going concern.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	20% reducing balance
Equipment	-	33% reducing balance

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
Additions	5,170
	-------
At 31 December 2024	5,170
	-------
Amortisation
Charge for the year	110
	-------
At 31 December 2024	110
	-------
Carrying amount
At 31 December 2024	5,060
	-------
At 31 December 2023	–
	-------

6. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 January 2024	21,293	446,661	467,954
Additions	–	6,083	6,083
Disposals	( 21,293)	–	( 21,293)
	--------	---------	---------
At 31 December 2024	–	452,744	452,744
	--------	---------	---------
Depreciation
At 1 January 2024	14,432	442,091	456,523
Charge for the year	–	2,344	2,344
Disposals	( 14,432)	–	( 14,432)
	--------	---------	---------
At 31 December 2024	–	444,435	444,435
	--------	---------	---------
Carrying amount
At 31 December 2024	–	8,309	8,309
	--------	---------	---------
At 31 December 2023	6,861	4,570	11,431
	--------	---------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	41,919	43,173
Other debtors	–	3,803
	--------	--------
	41,919	46,976
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	18,084	14,694
Trade creditors	85,773	374,344
Corporation tax	60,681	6,474
Social security and other taxes	69,461	20,051
Other creditors	14,883	8,182
	---------	---------
	248,882	423,745
	---------	---------

The overdraft included in Creditors: amounts falling due within one year is secured against the company.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	68,564	185,988
	--------	---------

The overdraft included in Creditors: amounts falling due after more than one year is secured against the company.

10. Related party transactions

At the year end the company owed the directors £2,000 (2023: £Nil).