Acorah Software Products - Accounts Production 15.0.600 false true false 1 September 2022 31 August 2023 31 August 2023 12813175 Mr Thibaut Houedan Mr Princewill Obuzor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12813175 2022-08-31 12813175 2023-08-31 12813175 2022-09-01 2023-08-31 12813175 frs-core:CurrentFinancialInstruments 2023-08-31 12813175 frs-core:ComputerEquipment 2023-08-31 12813175 frs-core:ComputerEquipment 2022-09-01 2023-08-31 12813175 frs-core:ComputerEquipment 2022-08-31 12813175 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-01 2023-08-31 12813175 frs-core:FurnitureFittings 2023-08-31 12813175 frs-core:FurnitureFittings 2022-09-01 2023-08-31 12813175 frs-core:FurnitureFittings 2022-08-31 12813175 frs-core:OtherResidualIntangibleAssets 2023-08-31 12813175 frs-core:OtherResidualIntangibleAssets 2022-09-01 2023-08-31 12813175 frs-core:OtherResidualIntangibleAssets 2022-08-31 12813175 frs-core:RevaluationReserve 2022-09-01 2023-08-31 12813175 frs-core:RevaluationReserve 2023-08-31 12813175 frs-core:ShareCapital 2023-08-31 12813175 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 12813175 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12813175 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 12813175 frs-bus:SmallEntities 2022-09-01 2023-08-31 12813175 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12813175 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12813175 frs-bus:Director1 2022-09-01 2023-08-31 12813175 frs-bus:Director2 2022-09-01 2023-08-31 12813175 frs-core:CurrentFinancialInstruments 1 2023-08-31 12813175 frs-countries:EnglandWales 2022-09-01 2023-08-31
Registered number: 12813175
Lithium Digital Limited
Financial Statements
For The Year Ended 31 August 2023
Patel & Co. Accountants
362 Derby Street
Bolton
BL3 6LS
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12813175
2023
Notes £ £
FIXED ASSETS
Intangible Assets 3 102,254
Tangible Assets 4 13,331
115,585
CURRENT ASSETS
Cash at bank and in hand 24,618
24,618
Creditors: Amounts Falling Due Within One Year 5 (94,546 )
NET CURRENT ASSETS (LIABILITIES) (69,928 )
TOTAL ASSETS LESS CURRENT LIABILITIES 45,657
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,089 )
NET ASSETS 42,568
CAPITAL AND RESERVES
Called up share capital 6 2
Revaluation reserve 7 (121,866 )
Profit and Loss Account 164,432
SHAREHOLDERS' FUNDS 42,568
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For the year ending 31 August 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 Princewill Obuzor
Director
30th May 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 18% Written down value
Computer Equipment 18% Written down value
1.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2
2
3. Intangible Assets
Other
£
Cost or Valuation
As at 1 September 2022 219,382
Additions 15,520
Revaluations (132,648 )
As at 31 August 2023 102,254
Net Book Value
As at 31 August 2023 102,254
As at 1 September 2022 219,382
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 1,205 30,675 31,880
As at 31 August 2023 1,205 30,675 31,880
Depreciation
As at 1 September 2022 234 15,389 15,623
Provided during the period 175 2,751 2,926
As at 31 August 2023 409 18,140 18,549
Net Book Value
As at 31 August 2023 796 12,535 13,331
As at 1 September 2022 971 15,286 16,257
5. Creditors: Amounts Falling Due Within One Year
2023
£
Other taxes and social security 798
Pensions payable 74
Accruals and deferred income 900
Directors' loan accounts 92,774
94,546
6. Share Capital
2023
£
Allotted, Called up and fully paid 2
7. Reserves
Revaluation Reserve
£
Surplus on revaluation 10,782
Deficit on revaluation (132,648)
As at 31 August 2023 (121,866 )
8. General Information
Lithium Digital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12813175 . The registered office is 4.03 Imperial Court, Building 2, Exchange Quay, Salford Quays,, Salford, M5 3EB.
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