Blade Tooling Company Limited 31/12/2024 iXBRL

Company registration number: 07485948

Blade Tooling Company Limited

Trading as Blade Tooling Company Limited

Unaudited filleted financial statements

31 December 2024

Blade Tooling Company Limited

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Blade Tooling Company Limited

Directors and other information


Director	Mr Ian Cerrone	(Appointed 1 March 2024)
	Mr Philipp Visotschnig	(Resigned 1 March 2024)


Company number	07485948


Registered office	Unit 4, Ams Technology Park
	Billington Road
	Burnley
	Lancashire
	BB11 5UB


Business address	Unit 4 Ams, Technology Park
	Billington Road
	Burnley
	Lancashire
	BB11 5UB


Accountants	Longden & Co Ltd
	Riverside House
	4 Melbourne Street
	Stalybridge
	Cheshire
	SK15 2JE




	Bankers	National Westminster Bank
		1 Princess Street
		London
		EC2R 8BP

Blade Tooling Company Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	6	378,981		371,398
		_______		_______
			378,981		371,398

Current assets
Stocks		192,021		235,809
Debtors	7	2,082,806		1,632,631
Cash at bank and in hand		248,966		219,632
		_______		_______
		2,523,793		2,088,072
Creditors: amounts falling due
within one year	8	( 1,581,115)		( 371,934)
		_______		_______
Net current assets			942,678		1,716,138
			_______		_______
Total assets less current liabilities			1,321,659		2,087,536

Creditors: amounts falling due
after more than one year	9		( 342,718)		-

Provisions for liabilities			98,851		64,705

Accruals and deferred income			( 103,613)		( 107,877)

			_______		_______
Net assets			974,179		2,044,364
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			974,178		2,044,363
			_______		_______
Shareholders funds			974,179		2,044,364
			_______		_______

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.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act 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 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr Ian Cerrone

Director

Company registration number: 07485948

Blade Tooling Company Limited

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account
	£	£


At 1 January 2023 (as previously reported)	1	2,664,201
Prior period adjustments	(-)	(1)
	_______	_______
At 1 January 2023 (restated)	1	2,664,200

Loss for the year		( 619,837)
	_______	_______
Total comprehensive income for the year	-	( 619,837)

At 31 December 2023 (as previously reported)	1	2,044,364
Prior period adjustments	(-)	(1)
	_______	_______
At 31 December 2023 (restated) and 1 January 2024	1	2,044,363

Loss for the year		( 1,070,185)
	_______	_______
Total comprehensive income for the year	-	( 1,070,185)

	_______	_______
At 31 December 2024	1	974,178
	_______	_______

Blade Tooling Company 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 & Wales. The address of the registered office is Unit 4, Ams Technology Park, Billington Road, Burnley, Lancashire, BB11 5UB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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

Having considered the basis of preparation of Blade Tooling Company Limited Financial Statements, the Directors are satisfied that it remains appropriate to prepare the Company Financial Statements on a going concern basis.

Turnover

Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, VAT and other sales related taxes and is recognised when goods are despatched, and all the risks and rewards have been transferred to the customer. Income from service contracts is recognised over the life of the contracts.

Taxation

Tax on the profit or loss for the period comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments in subsidiaries, to the extent that it is not probable that they will reverse in the foreseeable future and the reporting entity is able to control the reversal of the timing difference. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is provided in respect of the additional tax that will be paid or avoided on differences between the amount at which an asset (other than goodwill) or liability is recognised in a business combination and the corresponding amount that can be deducted or assessed for tax. Goodwill is adjusted by the amount of such deferred tax.Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

Operating leases

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expense.

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Leases in which the Company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases. Leased assets acquired by way of finance lease are stated on initial recognition at an amount equal to the lower of their fair value and the present value of the minimum lease payments at inception of the lease, including any incremental costs directly attributable to negotiating and arranging the lease. At initial recognition a finance lease liability is recognised equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease.The Company assesses at each reporting date whether tangible fixed assets (including those leased under a finance lease) are impaired.

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:


Short leasehold property	-	Straight line over the period of the lease
Plant and machinery	-	5 to 10 years
Fittings fixtures and equipment	-	3 to 10 years

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

Impairment excluding stocks and deferred assets

Financial assets (including trade and other debtors)A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset's original effective interest rate. For financial instruments measured at cost less impairment, impairment is calculated as the difference between its carrying amount and the best estimate of the amount that the Company would receive for the asset if it were to be sold at the reporting date. Interest on the impaired asset continues to be recognised through the unwinding of the discount. Impairment losses are recognised in profit or loss. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss.Non-financial assetsThe carrying amounts of the Company's non-financial assets, other than stocks and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "CGU", "cash-generating unit"). An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognised in profit or loss. An impairment loss is reversed if and only if the reasons for the impairment have ceased to apply. Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the weighted average principle and includes expenditure incurred in acquiring the stocks, production or conversion costs and other costs in bringing them to their existing location and condition. In the case of manufactured stocks and work in progress, cost includes an appropriate share of overheads based on normal operating capacity.At each reporting date, the Company assesses whether stocks are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit and loss.Reversals of impairment losses are recognised in the profit and loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions: (a) they include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and (b) where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares. Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.Interest-bearing borrowing's classified as basic financial instruments Interest-bearing borrowing's are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowing's are stated at amortised cost using the effective interest method, less any impairment losses.

Defined contribution plans

A defined contribution plan is a post-employment benefit plan under which the Company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

4. Turnover

Overseas turnover amounted to 52% (31 December 2023: 69%) of the total turnover for the year

All turnover relates to the sale of goods and originates from continuing operations and activity in the United Kingdom.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 33 (2023: 30 ).

6. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	218,277	2,237,009	310,631	2,765,917
Additions	-	46,384	29,422	75,806
Disposals	-	( 18,750)	-	( 18,750)
Revaluation	( 196,484)	( 154,778)	( 70,515)	( 421,777)
	_______	_______	_______	_______
At 31 December 2024	21,793	2,109,865	269,538	2,401,196
	_______	_______	_______	_______
Depreciation
At 1 January 2024	218,277	1,872,423	303,819	2,394,519
Charge for the year	-	55,407	7,425	62,832
Disposals	-	( 13,359)	-	( 13,359)
Revaluations	( 196,484)	( 154,778)	( 70,515)	( 421,777)
	_______	_______	_______	_______
At 31 December 2024	21,793	1,759,693	240,729	2,022,215
	_______	_______	_______	_______
Carrying amount
At 31 December 2024	-	350,172	28,809	378,981
	_______	_______	_______	_______
At 31 December 2023	-	364,586	6,812	371,398
	_______	_______	_______	_______

Included within tangible fixed assets are assets held under hire purchase agreements with a net carrying amount of £378,981 (Year ended 31 December 2023: £Nil.,

7. Debtors

	2024	2023
	£	£
Trade debtors	1,240,367	637,265
Amounts owed by group undertakings and undertakings in which the company has a participating interest	717,345	910,954
Other debtors	125,094	84,412
	_______	_______
	2,082,806	1,632,631
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	-	57,286
Trade creditors	305,967	140,825
Amounts owed to group undertakings and undertakings in which the company has a participating interest	-	76,573
Social security and other taxes	87,355	73,110
Obligations under hire purchase agreements	224,676	-
Other creditors	963,117	24,140
	_______	_______
	1,581,115	371,934
	_______	_______

Other creditors includes an invoice discounting facility of £940,888. This facility is secured by a charge over the company's trade debtors.

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

	2024	2023
	£	£
Obligations under hire purchase agreements	342,718	-
	_______	_______

The company has acquired certain tangible fixed assets under hire purchase agreements over fixed term of 48 months. These liabilities are secured on the specific assets to which they relate. The total future liability repayable at year end is £567,393.94, split; under 1 year £224,676, and between 1 and five years £342,718.

10. Prior period errors

Insignificant Database rounding's.

11. Controlling party

The immediate parent undertaking is Technology Engineering Services Limited, a company registered in England and Wales. The directors consider Les Litwinowicz to be the ultimate controlling party by virtue of his controlling interest in Technology Engineering Services Limited.