SlevenBits Ltd
Registered number: 07847328
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 2,656 1,190
Investments 4 97,600 290,961
100,256 292,151
Current assets
Debtors 5 78,474 63,474
Cash at bank and in hand 5,633 27,649
84,107 91,123
Creditors: amounts falling due within one year 7 (22,019) (13,312)
Net current assets 62,088 77,811
Net assets 162,344 369,962
Capital and reserves
Called up share capital 100 100
Profit and loss account 162,244 369,862
Shareholder's funds 162,344 369,962
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Ljungberg
Director
Approved by the board on 9 October 2023
SlevenBits Ltd
Notes to the Accounts
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021 4,744
Additions 3,092
At 30 November 2022 7,836
Depreciation
At 1 December 2021 3,554
Charge for the year 1,626
At 30 November 2022 5,180
Net book value
At 30 November 2022 2,656
At 30 November 2021 1,190
4 Investments
Other
investments
£
Cost
At 1 December 2021 290,961
Revaluation (193,361)
At 30 November 2022 97,600
5 Debtors 2022 2021
£ £
Trade debtors 70,974 55,974
Other debtors 7,500 7,500
78,474 63,474
6 Investments held as current assets 2022 2021
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments (193,361) 206,102
7 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 12,918 11,293
Other creditors 9,101 2,019
22,019 13,312
8 Other information
SlevenBits Ltd is a private company limited by shares and incorporated in England. Its registered office is:
124 City Road
London
EC1V 2NX
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