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Registered number: 09686276
Applied Blockchain Ltd
ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
Prepared By:
Blue Accountancy & Business Services
Chartered Certified Accountants
34 South Molton Street
London
W1K 5RG
Applied Blockchain Ltd
ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
DIRECTORS
Adi Ben-Ari
Yick Gee Philea CHIM
REGISTERED OFFICE
Level39 One Canada Square
London
E14 5AB
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 09686276
BANKERS
Santander
ACCOUNTANTS
Blue Accountancy & Business Services
Chartered Certified Accountants
34 South Molton Street
London
W1K 5RG
Applied Blockchain Ltd
ACCOUNTS
FOR THEYEARENDED31/12/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Applied Blockchain Ltd
BALANCE SHEET AT 31/12/2024
20242023
Notes££
FIXED ASSETS
Intangible assets2345,000345,000
Tangible assets31,003,816914,131
Investment Assets41,0001,000
1,349,8161,260,131
CURRENT ASSETS
Debtors52,335,0822,036,325
Cash at bank and in hand2,339,7133,053,408
4,674,7955,089,733
CREDITORS: Amounts falling due within one year6733,1251,061,868
NET CURRENT ASSETS3,941,6704,027,865
TOTAL ASSETS LESS CURRENT LIABILITIES5,291,4865,287,996
CAPITAL AND RESERVES
Called up share capital84646
Share premium account93,750,0003,750,000
Capital redemption reserve10(68,753)-
Profit and loss account1,610,1931,537,950
SHAREHOLDERS' FUNDS5,291,4865,287,996
For the year ending 31/12/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 28/09/2025 and signed on their behalf by
.............................
Adi Ben-Ari
Director
.............................
Kalanit Ben-Ari
Director
Applied Blockchain Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Fixtures and Fittingsreducing balance 25%
1c. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1d. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.
1e. Leasing Commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
1f. Financial Guarantees
The company has not adopted amendments to FRS 26 in relation to financial guarantee contracts. Where the company enters into financial guarantee contracts to guarantee the indebtedness of other companies within its group, the company considers these to be insurance arrangements, and accounts for them as such. In this respect, the company treats the guarantee contract as a contingent liability until such time as it becomes probable that the company will be required to make a payment under the guarantee.
Applied Blockchain Ltd
1g. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.
2. INTANGIBLE FIXED ASSETS
PatentsTotal
££
Cost
At 01/01/2024345,000345,000
At 31/12/2024345,000345,000
Depreciation
At 31/12/2024--
Net Book Amounts
At 31/12/2024345,000345,000
At 31/12/2023345,000345,000
3. TANGIBLE FIXED ASSETS
Plant andFixtures
Machineryand FittingsTotal
£££
Cost
At 01/01/20241,840,10610,4721,850,578
Additions365,594363365,957
At 31/12/20242,205,70010,8352,216,535
Depreciation
At 01/01/2024932,0124,435936,447
For the year274,6721,600276,272
At 31/12/20241,206,6846,0351,212,719
Net Book Amounts
At 31/12/2024999,0164,8001,003,816
At 31/12/2023908,0946,037914,131
Applied Blockchain Ltd
4. FINANCIAL ASSETS
Shares in group companies
and participating interestsTotal
££
Cost
At 01/01/20241,0001,000
At 31/12/20241,0001,000
Amortisation
Net Book Amounts
At 31/12/20241,0001,000
At 31/12/20231,0001,000
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors2,178,5231,974,661
PAYE control69,491-
Salaries and wages control320-
Other debtors17,654-
Prepayments69,09461,664
2,335,0822,036,325
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
VAT284,795591,427
PAYE control-24,065
Salaries and wages control-180
Directors current account1,4321,602
Trade creditors377,974419,387
Pension schemes6,18915,878
Accruals62,7359,329
733,1251,061,868
Applied Blockchain Ltd
7. EMPLOYEES
20242023
No.No.
Average number of employees2121
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
177200 Ordinary shares of £0.0001 each17.7217.72
39 Deferred of £0.01 each0.390.39
34872 Preference Shares of £0.0001 each3.48723.4872
177200 Ordinary Shares of £0.0001 each17.7217.72
39 Ordinary Shares of £0.01 each0.390.39
4646
9. SHARE PREMIUM ACCOUNT 20242023
££
Share premium account3,750,0003,750,000
10. OTHER RESERVES 20242023
££
Capital redemption reserve(68,753)-
(68,753)-
11. CONTROLLING PARTY
The Company was under the control of the Directors and Shareholders in the period under review. Shell Trading International Ltd is a person of significant control with effect from 28/12/2017 by virtue of ownership of shares exceeding 25% of the issued share capital.
12. RELATED PARTY TRANSACTIONS
There were no related party transactions in the period under review.