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REGISTERED NUMBER: 11168339 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BRIT TECH INTERNATIONAL LIMITED

BRIT TECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 11168339)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRIT TECH INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







Directors: Mr F M Oubina
Mr A Leal





Secretary: Vistra Cosec Limited





Registered office: Suite 1, 7th Floor
50 Broadway
London
SW1H 0BL





Registered number: 11168339 (England and Wales)





Accountants: Vistra Trust Company Limited
First Floor, Templeback
10 Temple back
Bristol
BS1 6FL

BRIT TECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 11168339)

BALANCE SHEET
31 JANUARY 2023

2023 2022
as restated
Notes $    $   
FIXED ASSETS
Investments 4 2,222,567 2,865,550

CURRENT ASSETS
Debtors 5 3 1,422

CREDITORS
Amounts falling due within one year 6 (41,327 ) (20,476 )
NET CURRENT LIABILITIES (41,324 ) (19,054 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,181,243

2,846,496

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 7 1,535,498 2,178,481
Other reserves 687,069 687,069
Retained earnings (41,327 ) (19,057 )
2,181,243 2,846,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Mr F M Oubina - Director


BRIT TECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 11168339)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Brit Tech International 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 Company's functional and presentational currency is US Dollars (USD) and the financial statements have been rounded to the nearest dollar ($).

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.

Preparation of consolidated financial statements
The financial statements contain information about Brit Tech International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiaries are held at fair value with increases recognised in other comprehensive income.

A decrease in revaluation is recognised in other comprehensive income to the extent of any previous recognised revaluation increase. If a revaluation decrease exceeds the accumulated revaluation gains recognised in other comprehensive income, the excess shall be recognised in profit and loss.

A revaluation of subsidiaries is carried out annually using the share values of the investments they hold to determine their value.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 initially recognised at transaction price.

Foreign currencies
Assets and liabilities in foreign currencies are translated into USD at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into USD at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The shareholders have confirmed that they will continue to give financial support to the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

BRIT TECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 11168339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
$   
Cost or valuation
At 1 February 2022 2,865,550
Revaluations (642,983 )
At 31 January 2023 2,222,567
Net book value
At 31 January 2023 2,222,567
At 31 January 2022 2,865,550

Cost or valuation at 31 January 2023 is represented by:

Shares in
group
undertakings
$   
Valuation in 2020 832,090
Valuation in 2021 1,231,840
Valuation in 2022 114,551
Valuation in 2023 (642,983 )
Cost 687,069
2,222,567

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
$    $   
Other debtors 3 1,422

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
$    $   
Other creditors 7,140 8,574
Directors' current accounts 15,038 9,598
Accrued expenses 19,149 2,304
41,327 20,476

The amounts included in other creditors owing to other group companies of $7,140 (2022 $8,574) is unsecured interest, free and repayable on demand.

7. RESERVES
Revaluation
reserve
$   
At 1 February 2022 2,178,481
Loss on revaluation (642,983 )

At 31 January 2023 1,535,498