Statement of compliance

These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets and depreciation:

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Furniture and fixtures: 20% Straight Line

Investment in Subsidiaries

When the Company has investments in shares that result in a controlling interest in another entity, the Company measures these investments at cost, in line with the provisions of FRS 102.

Financial Instruments

Financial instruments are recognised under the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102. Financials are initially recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not discounted.

Financial Liabilities:

Basic financial liabilities, including trade and other payables and bank loans, are initially recognized at transaction price adjusted for transaction costs unless the arrangement constitutes a financing transaction, in which the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

A debt instrument is subsequently amortised at its effective interest rate.

Trade payable for goods or services acquired in the ordinary course of business due within one year or less, accounts payable are classified as current liabilities.

Amortised costs are calculated based on the undiscounted cash or other consideration expected to be received.

If due for more than one year, they are classified as non-current liabilities. These are initially recognised at transaction price and subsequently amortised using effective interest.

Offsetting of Financial Instruments

Financial instruments that are subject to legally enforceable master netting arrangements or similar agreements are recognized on a net basis when the company has the right to set off the amount due against the amount owed. This means that the grossamounts of financial assets and financial liabilities are presented separately on the statement of financial position, but the net amount of these items is presented when the right to set off exists.

The company applies the criteria for offsetting financial assets and liabilities in accordance with Section 6 of FRS 102. The criteria

for offsetting financial assets and liabilities are:

The company has a legally enforceable right to set off the amounts

The company intends to settle on a net basis or realise the asset and settle the liability simultaneously.

As at the balance sheet date, the company had the right to set off certain financial assets and financial liabilities, and

therefore has presented them on a net basis in the financial statements.

The companys policy for offsetting financial instruments is consistent with the recognition criteria for financial assets and

liabilities set out in FRS 102. The presentation of financial assets and liabilities on a net basis reflects the economic

substance of the companys financial position.

Interest Income

The company recognizes interest income in accordance with the requirements of FRS 102. Interest income is recognized in profit or loss using the effective interest method.

Other Fees and Income

The company recognizes fees and other incomes which are not part of the effective interest rate, when services are rendered, and obligations are satisfied.

Employee Benefits

The company operates a defined pension contribution plan. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the plan

Related Parties Transaction

During the extended year of operations the company has entered into transactions with related parties, all transactions are accrued at arm length. Under the small company exemption, the Company has decided to not disclose details of related party transactions.

The financial statements of Bloom Services Capital Ltd have been prepared on a going concern basis. The directors have assessed the entity's ability to continue as a going concern for at least 12 months from the date of authorising these financial statements. This assessment considered the companys financial performance, funding arrangements.
As of the year ended 31st December 2024, 
The Companys cash inflows are primarily generated from collections under existing and future merchant agreements. Based on probability-weighted cash-flow forecasts, the directors expect these collections to be sufficient to meet the Companys operational requirements and to settle funding obligations as they fall due in accordance with their contractual terms for at least twelve months from the date of approval of the financial statements.
Certain funding arrangements provide that repayment is dependent on the receipt of collections rather than being unconditionally payable. These liabilities have therefore been measured at fair value in accordance with FRS 102 Section 12.
The directors also note that the loan agreement contemplates the possibility of additional funding to support future loan origination, subject to conditions; however, this has not been assumed in the valuation of the existing liability.
While there are inherent uncertainties in the timing and level of future collections, the directors consider that these do not give rise to a material uncertainty that would cast significant doubt on the Companys ability to continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis.

Revenue is Recognized to the extent that it is probable that the economic benefits will flow to the entity and revenue can be measured reliably.

1-Rendering of services
Revenue from a contract to provide services is recognized for the period in which services are provided.
When amount can be measured reliably
It is probable that the entity will receive the consideration due.

Stage of completion can be measured reliably, and cost incurred to date and cost to complete can be measured reliably.

2- Interest income is recognized in profit or loss using effective interest rate method.

Research and development expenditure is charged to the income statement in the period in which it is incurred.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.

Tangible fixed assets, other than freehold land, are stated at cost  less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

The company includes finance facility  for short term loans  since most of the risks and rewards of ownership  have not passed to the Issuer. A corresponding liability is included in liabilities in respect of the proceeds received from the Issuer.

Current asset investments includes company loan book- Loans are issued to E- Commerce Merchants- All loans are short terms and are repayable with in one year- loans are measured using Amortized Cost method.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.