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Registered number: 09724325
10Bit Technologies Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 09724325
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 130,267 180,317
Investments 1 1
130,268 180,318
Creditors: Amounts Falling Due Within One Year 5 (106,948 ) (173,949 )
NET CURRENT ASSETS (LIABILITIES) (106,948 ) (173,949 )
TOTAL ASSETS LESS CURRENT LIABILITIES 23,320 6,369
NET ASSETS 23,320 6,369
CAPITAL AND RESERVES
Called up share capital 6 1,003 1,003
Share premium account 2,453 2,453
Profit and Loss Account 19,864 2,913
SHAREHOLDERS' FUNDS 23,320 6,369
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Luke Malcolm
Director
13th April 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 September 2021 1,003 2,453 (115,057 ) (111,601)
Profit for the period and total comprehensive income - - 338,220 338,220
Dividends paid - - (220,250) (220,250)
As at 31 December 2022 and 1 January 2023 1,003 2,453 2,913 6,369
Profit for the year and total comprehensive income - - 189,951 189,951
Dividends paid - - (173,000) (173,000)
As at 31 December 2023 1,003 2,453 19,864 23,320
Page 3
Page 4
Notes to the Financial Statements
1. General Information
10Bit Technologies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09724325 . The registered office is 89-90 Paul Street, London, EC20 4NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably.
Other intangible assets is Software. It is amortised to profit and loss account over its estimated economic life of 10 years on a straight line basis.
2.3. Investments
Investment in subsidiary companies is held at cost less accumulated impairment losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 500,500
As at 31 December 2023 500,500
Amortisation
As at 1 January 2023 320,183
Provided during the period 50,050
As at 31 December 2023 370,233
Net Book Value
As at 31 December 2023 130,267
As at 1 January 2023 180,317
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Page 5
5. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Amounts owed to group undertakings 69,962 103,845
Other creditors 36,986 70,104
106,948 173,949
6. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 1,003 1,003
7. Related Party Transactions
At the year end the company owed £69,962 (2022: £103,845) to 10Bit FX Limited, a wholly-owned subsidiary undertaking, in respect of an interest free loan which is repayable on demand.
Dividends totalling £173,000 (2022: £220,250) were paid in the year in respect of shares held by the company's directors.
During the year dividends of £240,000 (2022 - £405,000) were paid by 10Bit FX Limited, a wholly-owned subsidiary undertaking.
8. Ultimate Controlling Party
The company's ultimate controlling party is Mr Matthew Swoboda by virtue of his ownership of 54% of the issued share capital in the company.
9. Investments (unlisted)
Details of the investments in which the company holds 20% of more of the nominal value of any class of share capital are as follows: 
10Bit FX Limited – Ordinary shares – 100% interest
10Bit FX Finland Oy – Ordinary shares – 100% interest
Page 5