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Britannia Digital Holdings Limited
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Directors' report and financial statements
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For the year ended 31 December 2023
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Registered number: 13686622
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Britannia Digital Holdings Limited
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Company Information
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Britannia Digital Holdings Limited
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Contents
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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Britannia Digital Holdings Limited
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Directors' report
For the year ended 31 December 2023
The directors present their report and the and the financial statements of Britannia Digital Holdings Limited ('the company') for the year ended 31 December 2023. The comparatives present information for the period from incorporation on 18 October 2021 to 31 December 2022.
The directors who served during the year were:
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S Saracho De Oyarzabal (resigned on30 August 2023)
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Results
The loss for the year, after taxation amounted to £ 156,760 (2022- Loss 16,089)
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on 23 September 2024 and signed on its behalf by:
Page 1
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Britannia Digital Holdings Limited
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Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Britannia Digital Holdings Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Britannia Digital Holdings Limited for the year ended 31 December 2023 which comprise the Income statement, the Statement of financial position, the Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of Britannia Digital Holdings Limited, as a body, in accordance with the terms of my engagement letter dated 8 September 2023. My work has been undertaken solely to prepare for your approval the financial statements of Britannia Digital Holdings Limited and state those matters that I have agreed to state to the Board of directors of Britannia Digital Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Britannia Digital Holdings Limited and its Board of directors, as a body, for my work or for this report.
It is your duty to ensure that Britannia Digital Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Britannia Digital Holdings Limited. You consider that Britannia Digital Holdings Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or review of the financial statements of Britannia Digital Holdings Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
26 September 2024
Page 2
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Britannia Digital Holdings Limited
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Income statement
For the year ended 31 December 2023
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Loss for the financial year
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There was no other comprehensive income for the year ended 31 December 2023 or the period ended 31 December 2022.
The notes on pages 7 to 10 form part of these financial statements.
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Page 3
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Britannia Digital Holdings Limited - Registered number: 13686622
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Statement of financial position
As at 31 December 2023
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 7 to 10 form part of these financial statements.
Page 4
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Britannia Digital Holdings Limited
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Statement of changes in equity
For the year ended 31 December 2023
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Shares issued during the year
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Total transactions with owners
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The notes on pages 7 to 10 form part of these financial statements.
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Page 5
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Britannia Digital Holdings Limited
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Statement of changes in equity
For the year ended 31 December 2022
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Comprehensive income for the period
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Total comprehensive income for the period
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Total transactions with owners
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The notes on pages 7 to 10 form part of these financial statements.
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Page 6
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Britannia Digital Holdings Limited
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Notes to the financial statements
For the year ended 31 December 2023
Britannia Digital Holdings Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Level 29, 52 Lime Street, London, England, EC3M 7AF. The registered number is 1368662.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the
Financial Reporting Standard applicable in. Within these accounting policies and in accordance with Section
1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland', ('FRS102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:
During the period ended 31 December 2023, the company made a loss of £191,760 and at 31 December 2023 had net liabilities of £157,848. We have considered our expectations and intentions for the next twelve months and the availability of working capital and consider it appropriate to prepare the financial statements on a going concern basis.
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Foreign currency translation
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Functional and presention currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
All foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.
Investments in subsidiaries are measured at cost less accumulated impairment.
Page 7
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Britannia Digital Holdings Limited
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Notes to the financial statements
For the year ended 31 December 2023
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company only enters into transactions that result in the recognition of basic financial instruments like
trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration
expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss
is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between
an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any
impairment loss is the current effective interest rate determined under the contract.
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The company has no employees other than the directors, who did not receive any remuneration (period ended 31
December 2022 - no employees).
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Page 8
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Britannia Digital Holdings Limited
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Notes to the financial statements
For the year ended 31 December 2023
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Investments in subsidiary undertakings
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Cash and cash equivalents
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Creditors: amounts falling due within one year
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Accruals and deferred income
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Page 9
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Britannia Digital Holdings Limited
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Notes to the financial statements
For the year ended 31 December 2023
The company had no contingent liabilities at 31 December 2023.
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The company has no capital commitments at 31 December 2023.
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Page 10
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