Company registration number 02402690 (England and Wales)
BLOCKFOIL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
BLOCKFOIL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
BLOCKFOIL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,213,240
1,088,582
Current assets
Stocks
38,762
62,378
Debtors
5
397,015
461,297
Cash at bank and in hand
526,160
229,904
961,937
753,579
Creditors: amounts falling due within one year
6
(541,697)
(442,878)
Net current assets
420,240
310,701
Total assets less current liabilities
1,633,480
1,399,283
Creditors: amounts falling due after more than one year
7
-
0
(2,595)
Provisions for liabilities
(235,996)
(259,300)
Net assets
1,397,484
1,137,388
Capital and reserves
Called up share capital
109
109
Share premium account
9,999
9,999
Revaluation reserve
8
915,793
972,114
Capital redemption reserve
9
10
10
Profit and loss reserves
471,573
155,156
Total equity
1,397,484
1,137,388

The notes form part of the financial statements

BLOCKFOIL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
31 March 2026
- 2 -

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 August 2026 and are signed on its behalf by:
BJ Corbett
PN Makin
Director
Director
Company registration number 02402690 (England and Wales)
BLOCKFOIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

Blockfoil Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chadderton Industrial Estate, Greenside Way, Middleton, Manchester, M24 1SW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” “FRS 102” and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the turnover can be reliably measured. Turnover is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, value added tax and other sales

taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

BLOCKFOIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over ten years or lease term if shorter
Plant and equipment
Over five to ten years
Fixtures and fittings
Over three to four years
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.6
Financial instruments

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.

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 amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BLOCKFOIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

These financial statements for the year ended 31 March 2026 are the first financial statements of Blockfoil Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2024. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

BLOCKFOIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
15
15
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2025
51,621
2,483,024
66,464
20,250
2,621,359
Additions
4,602
216,095
2,583
-
0
223,280
Disposals
(632)
-
0
-
0
-
0
(632)
Revaluation
-
0
(56,500)
-
0
-
0
(56,500)
At 31 March 2026
55,591
2,642,619
69,047
20,250
2,787,507
Depreciation and impairment
At 1 April 2025
33,732
1,424,165
56,732
18,148
1,532,777
Depreciation charged in the year
2,935
33,277
5,258
526
41,996
Eliminated in respect of disposals
(506)
-
0
-
0
-
0
(506)
At 31 March 2026
36,161
1,457,442
61,990
18,674
1,574,267
Carrying amount
At 31 March 2026
19,430
1,185,177
7,057
1,576
1,213,240
At 31 March 2025
17,889
1,058,859
9,732
2,102
1,088,582
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
337,504
373,394
Other debtors
59,511
87,903
397,015
461,297
BLOCKFOIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
2,606
10,468
Trade creditors
212,359
77,766
Amounts owed to group undertakings
184,892
184,892
Taxation and social security
116,592
141,751
Other creditors
25,248
28,001
541,697
442,878
7
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Bank loans and overdrafts
-
0
2,595

The bank loan is an unsecured Covid 19 Bounce back loan.

8
Revaluation reserve

The revaluation reserve includes the unrealised revaluation gains on plant and machinery. The amounts are transferred from the profit and loss account reserve where they were initially recognised. The balance is not distributable.

9
Capital redemption reserve

The capital redemption reserve exists, following the company buy back of own shares during the year to 31 March 2022.

10
Pension commitments
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
18,836
17,048

The Company operates a defined contributions pension scheme. The assets of the scheme are held

separately from those of the Company in an independently administered fund. The pension cost charge

represents contributions payable by the Company to the fund and amounted to £41,274 (2025 - £17,048)

Contributions totalling £3,337 (2025 - £2,961) were payable to the fund at the balance sheet date and are

included in creditors.

BLOCKFOIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
11
Employee Ownership Trust
2026
2025
£
£
At the beginning of the year
400,760
274,760
Consideration paid on behalf of the Employee Ownership Trust to acquire shares of Parent Company
80,000
126,000
At the end of the year
480,760
400,760

On 12 February 2024, the shareholders of the Parent Company, Blockfoil Group Ltd elected to sell 100% of their shares to the Company's employees through the mechanism of an Employee Ownership Trust. As a result of this transaction Blockfoil Ltd have made further payments of £80,000 to the former shareholders during the year.

Blockfoil Ltd expects to make future payments of deferred consideration on a quarterly basis providing that the Group has sufficient distributable reserves and cash when payments fall due.

12
Operating lease commitments

At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating

leases of £624,000 (2025 - £702,000).

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