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REGISTERED NUMBER: 14924091 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

8 JUNE 2023 TO 31 DECEMBER 2023

FOR

BINARLY LTD

BINARLY LTD (REGISTERED NUMBER: 14924091)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 8 JUNE 2023 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BINARLY LTD

COMPANY INFORMATION
FOR THE PERIOD 8 JUNE 2023 TO 31 DECEMBER 2023







Director: A Matrosov





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 14924091 (England and Wales)






BINARLY LTD (REGISTERED NUMBER: 14924091)

BALANCE SHEET
31 DECEMBER 2023

Notes £   
CURRENT ASSETS
Debtors 4 8,098
Cash at bank 6,284
14,382
CREDITORS
Amounts falling due within one year 5 (3,872 )
NET CURRENT ASSETS 10,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,510

CAPITAL AND RESERVES
Called up share capital 6 100
Retained earnings 10,410
SHAREHOLDERS' FUNDS 10,510

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

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

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





A Matrosov - Director


BINARLY LTD (REGISTERED NUMBER: 14924091)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 8 JUNE 2023 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Binarly Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency is pound sterling (£) and the financial statements have been rounded to the nearest pound (£).

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.

The company is contracted by its parent company, Binarly Inc., to provide the research and development of software services. The company is remunerated by its parent for these services.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Taxation
Taxation for the period 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.

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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

BINARLY LTD (REGISTERED NUMBER: 14924091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 8 JUNE 2023 TO 31 DECEMBER 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 period was 4 .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 7,952
Other debtors 146
8,098

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 2,588
Other creditors 1,284
3,872

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

7. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Binarly Inc., the company incorporated in the United States of America.