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Company Registration No. 13408024 (England and Wales)
eBit Labs Ltd Unaudited accounts for the year ended 31 May 2023
eBit Labs Ltd Unaudited accounts Contents
Page
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eBit Labs Ltd Company Information for the year ended 31 May 2023
Directors
Oliver Cooke Christopher Marks
Company Number
13408024 (England and Wales)
Registered Office
3RD FLOOR 86-90 PAUL STREET LONDON EC2A 4NE ENGLAND
Accountants
The Accountancy Cloud 12-18 Hoxton Street London N1 6NG UK
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eBit Labs Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
- 
4,007 
Cash at bank and in hand
40,786 
59,239 
40,786 
63,246 
Creditors: amounts falling due within one year
(754,684)
(301,942)
Net current liabilities
(713,898)
(238,696)
Net liabilities
(713,898)
(238,696)
Capital and reserves
Called up share capital
100 
100 
Share premium
9,900 
9,900 
Profit and loss account
(723,898)
(248,696)
Shareholders' funds
(713,898)
(238,696)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by
Christopher Marks Director Company Registration No. 13408024
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eBit Labs Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
eBit Labs Ltd is a private company, limited by shares, registered in England and Wales, registration number 13408024. The registered office is 3RD FLOOR 86-90, PAUL STREET, LONDON, EC2A 4NE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
4,007 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
3,299 
2,830 
Other creditors
1,385 
(888)
Loans from directors
750,000 
300,000 
754,684 
301,942 
6
Average number of employees
During the year the average number of employees was 5 (2022: 2).
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