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REGISTERED NUMBER: 13083974 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Bitumex International Ltd

Bitumex International Ltd (Registered number: 13083974)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bitumex International Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Callychurn
B Gungadin





REGISTERED OFFICE: 75 Quickley Lane
Chorleywood
Rickmansworth
WD3 5AE





REGISTERED NUMBER: 13083974 (England and Wales)






Bitumex International Ltd (Registered number: 13083974)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes $    $    $    $   
FIXED ASSETS
Tangible assets 4 167,135 -

CURRENT ASSETS
Stocks 257,114 74,316
Debtors 5 149,850 -
Cash at bank and in hand 115,249 103,173
522,213 177,489
CREDITORS
Amounts falling due within one year 6 579,943 176,461
NET CURRENT (LIABILITIES)/ASSETS (57,730 ) 1,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,405

1,028

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 109,404 1,027
109,405 1,028

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

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

Bitumex International Ltd (Registered number: 13083974)

Balance Sheet - continued
31 December 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 26 September 2024 and were signed on its behalf by:





B Gungadin - Director


Bitumex International Ltd (Registered number: 13083974)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bitumex International 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 presentation currency of the financial statements is the US Dollar ($).


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.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of the tangible fixed assets over their expected useful lives as follows:


Plant & Machinery - 10% per annum on Cost
Computer equipment - 25% per annum on WDV

Stocks
Goods in transit are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Bitumex International Ltd (Registered number: 13083974)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
$   
COST
Additions 185,766
At 31 December 2023 185,766
DEPRECIATION
Charge for year 18,631
At 31 December 2023 18,631
NET BOOK VALUE
At 31 December 2023 167,135

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$    $   
Trade debtors 149,850 -

Bitumex International Ltd (Registered number: 13083974)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$    $   
Payments on account 42,375 -
Trade creditors 407,934 -
Taxation and social security 1,153 241
Other creditors 128,481 176,220
579,943 176,461

7. RELATED PARTY DISCLOSURES

The controlling parties are A Callychurn and B Gungadin, company directors.

At the year end, amount due to the directors was $124,719 ( 2022: $175,681)