REGISTERED NUMBER: 10878691 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

BLAKRON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M D Seagroatt

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

10878691 (England and Wales)

AUDITORS:

Xeinadin Audit Limited Chartered Accountants

Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Tangible assets

4

2,550,000

2,654,783

CURRENT ASSETS

Cash at bank and in hand

541

2,040

CREDITORS

Amounts falling due within one year

1,230,104

1,182,321

NET CURRENT LIABILITIES

(1,229,563

)

(1,180,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,320,437

1,474,502

CREDITORS

Amounts falling due after more than one year

5

296,239

447,019

NET ASSETS

1,024,198

1,027,483

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

621,992

679,846

Retained earnings

402,205

347,636

1,024,198

1,027,483

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 December 2025 and were signed by:

Mr M D Seagroatt - Director

1.	STATUTORY INFORMATION

Blakron 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The items in the financial statements where these judgements and estimates have been made include:

- assessing the recoverability of the intercompany balances.

Other key sources of estimation uncertainty

- investment properties (see note 5)

lnvestment properties are professionally valued annually using a yield methodology. This uses market rental values capitalised at a market capitalisation rate but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself.

Going concern

The current liabilities exceed the current assets at the balance sheet but the company continues to have the support of its parent company and the director to continue trading for the foreseeable future.

Turnover

Turnover comprises income received from property rental.

Tangible fixed assets

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

Freehold property

-

2% on cost

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 July 2024

2,840,000

Impairments

(290,000

)

At 30 June 2025

2,550,000

DEPRECIATION

At 1 July 2024

185,217

Revaluation adjustments

(185,217

)

At 30 June 2025

-

NET BOOK VALUE

At 30 June 2025

2,550,000

At 30 June 2024

2,654,783

Cost or valuation at 30 June 2025 is represented by:

Totals

£

Valuation in 2021

543,560

Valuation in 2025

(290,000

)

Cost

2,296,440

2,550,000

If freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

2,296,440

2,296,440

Aggregate depreciation

367,430

321,502

Freehold property, being freehold commercial property, was valued on an open market basis on 10 June 2025 by Fisher German.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans

13,414

50,884

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

437,652

579,064

The table below relates to the security schedule between the company and The Royal Bank of Scotland:

Security type

Granted by

Security address/Description

1. 1st Legal Charge

Blakron Limited

7 Eastbury Road, London Industrial Park, Beckton, London and its associated assets

2. Debenture

Blakron Limited

3. Loan guarantee supported by debenture

LDD Construction Limited

4. Deed of subordination

Dean Carr

Monies owed to Dean Carr by Blakron Limited

5. Deed of subordination

Marc Seagroatt

Monies owed to Marc Seagroatt by Blakron Ltd

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Thurairatnam Sudarshan FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited Chartered Accountants

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE PARENT COMPANY

The ultimate parent company is London Diamond Drilling Holdings Limited, a company registered in the United Kingdom.