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REGISTERED NUMBER: 08130003 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Do Your Bit Limited

Do Your Bit Limited (Registered number: 08130003)






Contents of the Financial Statements
for the Year Ended 31 JULY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Do Your Bit Limited (Registered number: 08130003)

Balance Sheet
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,759 7,780

CURRENT ASSETS
Debtors 5 204,727 115,777

CREDITORS
Amounts falling due within one year 6 (130,582 ) (105,013 )
NET CURRENT ASSETS 74,145 10,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,904

18,544

PROVISIONS FOR LIABILITIES (1,440 ) (1,945 )
NET ASSETS 78,464 16,599

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings 78,453 16,588
78,464 16,599

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

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

The director acknowledges his 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 Profit & Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2024 and were signed by:





F X Velarde - Director


Do Your Bit Limited (Registered number: 08130003)

Notes to the Financial Statements
for the Year Ended 31 JULY 2023

1. STATUTORY INFORMATION

Do Your Bit LImited is a private company, limited by shares, registered in England and Wales, Registration number 08130003. The registered office is Solar House - PF 915 High Road, North Finchley, London N12 8QJ.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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.

Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
o the amount of revenue can be measured reliably;
o it is probable that the Company will receive the consideration due under the contract;
o the stage of completion of the contract at the end of the reporting period can be measured reliably; and
o the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:
Fixtures and fittings - 25% on cost
Computer equipments - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Financial instruments
The company has entered into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is fund, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Do Your Bit Limited (Registered number: 08130003)

Notes to the Financial Statements - continued
for the Year Ended 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

The government's Coronavirus Job Retention Scheme grant is of a revenue nature, and is credited to income so as to match them with the expenditure to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 3,947 13,001 16,948
Additions - 2,041 2,041
At 31 July 2023 3,947 15,042 18,989
DEPRECIATION
At 1 August 2022 2,464 6,704 9,168
Charge for year 895 3,167 4,062
At 31 July 2023 3,359 9,871 13,230
NET BOOK VALUE
At 31 July 2023 588 5,171 5,759
At 31 July 2022 1,483 6,297 7,780

Do Your Bit Limited (Registered number: 08130003)

Notes to the Financial Statements - continued
for the Year Ended 31 JULY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 38,736 20,606
Other debtors 165,991 95,171
204,727 115,777

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 43,640 22,510
Trade creditors (465 ) -
Taxation and social security 35,345 35,215
Other creditors 52,062 47,288
130,582 105,013

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
F X Velarde
Balance outstanding at start of year 95,171 54,648
Amounts advanced 137,787 82,512
Amounts repaid (66,967 ) (41,989 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 165,991 95,171

The above loan is interest free, repayable on demand and was unsecured.