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REGISTERED NUMBER: 09803779 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BITS4LANDYS LTD

BITS4LANDYS LTD (REGISTERED NUMBER: 09803779)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BITS4LANDYS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: C Wright
Dr S J Brown





REGISTERED OFFICE: Unit 10 Betton Business Park
Racecourse Road
East Ayton
Scarborough
YO13 9HD





REGISTERED NUMBER: 09803779 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

BITS4LANDYS LTD (REGISTERED NUMBER: 09803779)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 474 711

CURRENT ASSETS
Stocks 47,337 37,337
Debtors 5 2,969 2,570
Cash at bank and in hand 2,591 12,612
52,897 52,519
CREDITORS
Amounts falling due within one year 6 68,738 49,602
NET CURRENT (LIABILITIES)/ASSETS (15,841 ) 2,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,367

)

3,628

PROVISIONS FOR LIABILITIES 90 135
NET (LIABILITIES)/ASSETS (15,457 ) 3,493

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (15,557 ) 3,393
SHAREHOLDERS' FUNDS (15,457 ) 3,493

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

BITS4LANDYS LTD (REGISTERED NUMBER: 09803779)

BALANCE SHEET - continued
31 March 2023


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 18 January 2024 and were signed on its behalf by:





C Wright - Director


BITS4LANDYS LTD (REGISTERED NUMBER: 09803779)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Bits 4 Landys Limited is a private company, limited by shares, registered in England. The company's registered number is 09803779 and registered place of business is at Unit 10, Betton Business Park, Racecourse Road, East Ayton, Scarborough, YO13 9HD.

The principal activity of the company is the sale of motor parts.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The company has a net asset deficit of £15,749 as at 31st March 2023. Included within creditors is a balance owed to the director or £60,940.

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

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Turnover from the sale of goods is recognised at the point of sale.

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 etc - 25% on cost

Stocks
Stock are stated at the lower of cost, using the first in first out method, and selling price less costs to complete and sell.


BITS4LANDYS LTD (REGISTERED NUMBER: 09803779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Taxation
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 7,307
DEPRECIATION
At 1 April 2022 6,596
Charge for year 237
At 31 March 2023 6,833
NET BOOK VALUE
At 31 March 2023 474
At 31 March 2022 711

BITS4LANDYS LTD (REGISTERED NUMBER: 09803779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,969 2,570

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,905 3,778
Taxation and social security 158 1,853
Other creditors 62,675 43,971
68,738 49,602

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed its directors £60,940 (2022- £42,321). The loan is free from interest and repayable on demand.