BIT RESERVE LTD

Company Registration Number:
12132516 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

BIT RESERVE LTD

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

BIT RESERVE LTD

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 333,333 333,333
Total fixed assets: 333,333 333,333
Current assets
Total assets less current liabilities: 333,333 333,333
Total net assets (liabilities): 333,333 333,333
Capital and reserves
Called up share capital: 333,333 333,333
Shareholders funds: 333,333 333,333

The notes form part of these financial statements

BIT RESERVE LTD

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 February 2024
and signed on behalf of the board by:

Name: PRIME STREAM LTD
Status: Director

The notes form part of these financial statements

BIT RESERVE LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Intangible fixed assets and amortisation policy

In accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) and relevant International Financial Reporting Standards (IFRS) adopted by the UK, the directors of the company recognise and measure intangible fixed assets as described below:Recognition and MeasurementIntangible fixed assets, including patents, trademarks, software, and licenses, are initially recognised at cost when it is probable that the future economic benefits attributable to the asset will flow to the company and the cost can be reliably measured. Subsequently, these assets are measured at cost, less accumulated impairment losses, reflecting the directors' policy to treat these assets as having an indefinite useful life until a finite life becomes determinable.Impairment ReviewThe directors conduct an annual impairment review for each intangible asset, or more frequently, if events or changes in circumstances indicate that the asset might be impaired. The asset’s recoverable amount is estimated if any indication of impairment exists. An impairment loss is recognised if the recoverable amount is less than the carrying amount. DisclosuresThe carrying amount of intangible assets, movements including additions, disposals, impairments, and reversals of impairments, and the key assumptions underlying the recoverable amount, including the discount rate and growth rates used, are disclosed. This ensures transparency and provides stakeholders with insight into the management and valuation of the company's intangible fixed assets.

BIT RESERVE LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

BIT RESERVE LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible Assets

Total
Cost £
At 01 July 2022 333,333
At 30 June 2023 333,333
Net book value
At 30 June 2023 333,333
At 30 June 2022 333,333