Blindfolded Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Blindfolded Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04584769 . The registered office is 111 Westdale Lane, Carlton, Nottingham, NG4 3NX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. 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:

Leasehold	10% Straight line
Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures, Fittings & Equipment	25% Reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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Blindfolded Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

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

2.8. Cash and Bank

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

2.9. Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

2.10. Leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2023: 10)

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Blindfolded Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures, Fittings & Equipment	Total
	£	£	£	£	£
Cost
As at 1 December 2023	11,626	30,007	69,816	35,792	147,241

As at 30 November 2024	11,626	30,007	69,816	35,792	147,241

Depreciation
As at 1 December 2023	2,872	23,921	32,594	25,861	85,248
Provided during the period	382	1,521	9,305	2,482	13,690

As at 30 November 2024	3,254	25,442	41,899	28,343	98,938

Net Book Value
As at 30 November 2024	8,372	4,565	27,917	7,449	48,303

As at 1 December 2023	8,754	6,086	37,222	9,931	61,993

5. Stocks

	2024	2023
	£	£
Finished goods	9,000	5,000

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	44,855	48,154
Other debtors	6,682	25,934

	51,537	74,088

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	44,527	38,892
Bank loans and overdrafts	10,000	10,000
Other creditors	2,139	11,937
Taxation and social security	26,141	23,921

	82,807	84,750

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	8,103	18,111

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Blindfolded Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		48,303		61,993

			48,303		61,993
CURRENT ASSETS
Stocks	5	9,000		5,000
Debtors	6	51,537		74,088
Cash at bank and in hand		143,214		197,841

		203,751		276,929
Creditors: Amounts Falling Due Within One Year	7	(82,807 )		(84,750 )

NET CURRENT ASSETS (LIABILITIES)			120,944		192,179

TOTAL ASSETS LESS CURRENT LIABILITIES			169,247		254,172

Creditors: Amounts Falling Due After More Than One Year	8		(8,103 )		(18,111 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,586 )		(10,115 )

NET ASSETS			153,558		225,946

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			153,556		225,944

SHAREHOLDERS' FUNDS			153,558		225,946