ALLIED BITS LTD

Company Registration Number:
07484679 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

ALLIED BITS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

ALLIED BITS LTD

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 136,632 136,632
Tangible assets:   0 0
Investments: 4 5,040 5,040
Total fixed assets: 141,672 141,672
Current assets
Debtors:   16,525 2,850
Cash at bank and in hand: 124,000 136,875
Total current assets: 140,525 139,725
Creditors: amounts falling due within one year: 5 (78,309) (45,780)
Net current assets (liabilities): 62,216 93,945
Total assets less current liabilities: 203,888 235,617
Total net assets (liabilities): 203,888 235,617
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 203,788 235,517
Shareholders funds: 203,888 235,617

The notes form part of these financial statements

ALLIED BITS LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 September 2024
and signed on behalf of the board by:

Name: Inokentiy Ivanov
Status: Director

The notes form part of these financial statements

ALLIED BITS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT

Other accounting policies

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

ALLIED BITS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

ALLIED BITS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Intangible Assets

Total
Cost £
At 01 February 2023 136,632
At 31 January 2024 136,632
Net book value
At 31 January 2024 136,632
At 31 January 2023 136,632

ALLIED BITS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Fixed investments

The company invested £5040 in a startup venture Incust Ltd, where it is a minority shareholder.

ALLIED BITS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

The money owed by the company is comprised of short-term debt to suppliers and accrued HMRC VAT. These will be repaid within 30 days from the balance sheet date.

ALLIED BITS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Related party transactions

Name of the related party: INCUST LTD
Relationship:
The company owns 12.6% of shares, totalling £5,040, in the related party
Description of the Transaction: Incust Ltd owes Allied Bits Ltd the amount of £2,448 within basic short-term loan relationship, due December 2024.
£
Balance at 01 February 2023 2,292
Balance at 31 January 2024 2,448