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REGISTERED NUMBER: 11919904 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Bitlogic Ltd

Bitlogic Ltd (Registered number: 11919904)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Bitlogic Ltd (Registered number: 11919904)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,519 3,003

CURRENT ASSETS
Stocks 3,593 1,250
Debtors 5 1,009 122
Cash at bank 28,338 37,355
32,940 38,727
CREDITORS
Amounts falling due within one year 6 21,608 20,340
NET CURRENT ASSETS 11,332 18,387
TOTAL ASSETS LESS CURRENT LIABILITIES 14,851 21,390

PROVISIONS FOR LIABILITIES 571 571
NET ASSETS 14,280 20,819

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 14,180 20,719
SHAREHOLDERS' FUNDS 14,280 20,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 January 2024 and were signed by:





Mr P D Armitt - Director


Bitlogic Ltd (Registered number: 11919904)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Bitlogic Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11919904

Registered office: 8 Sandon Avenue
Newcastle
United Kingdom
Staffordshire
ST5 3QA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes an element of work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.

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.

Bitlogic Ltd (Registered number: 11919904)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022 3,841 110 906 4,857
Additions 1,200 - 348 1,548
At 30 April 2023 5,041 110 1,254 6,405
DEPRECIATION
At 1 May 2022 1,473 40 341 1,854
Charge for year 714 14 304 1,032
At 30 April 2023 2,187 54 645 2,886
NET BOOK VALUE
At 30 April 2023 2,854 56 609 3,519
At 30 April 2022 2,368 70 565 3,003

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,009 122

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security - 2,400
Other creditors 21,608 17,940
21,608 20,340

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary £1 50 50
50 Redeemable £1 50 50
100 100

Bitlogic Ltd (Registered number: 11919904)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CALLED UP SHARE CAPITAL - continued

Each ordinary share is entitled to one vote in any circumstances.
Each ordinary share is equally entitled to a distribution of dividends.
Each ordinary share is equally entitled to a distribution of capital.

Each redeemable share is equally entitled to a distribution of dividends.
Each redeemable share is equally entitled to a distribution of capital.
Each redeemable share is redeemable in accordance with the articles of association.