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Company Registration No. 11772186 (England and Wales)
Smash.Ing.Bits Limited Unaudited accounts for the year ended 31 January 2024
Smash.Ing.Bits Limited Unaudited accounts Contents
Page
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Smash.Ing.Bits Limited Company Information for the year ended 31 January 2024
Director
Andrea Velletrani
Company Number
11772186 (England and Wales)
Registered Office
2ND FLOOR 22 EASTCHEAP LONDON EC3M 1EU UNITED KINGDOM
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Smash.Ing.Bits Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Cash at bank and in hand
354,093 
411,265 
Creditors: amounts falling due within one year
(2,129)
(22,768)
Net current assets
351,964 
388,497 
Net assets
351,964 
388,497 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
351,954 
388,487 
Shareholders' funds
351,964 
388,497 
For the year ending 31 January 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 October 2024 and were signed on its behalf by
Andrea Velletrani Director Company Registration No. 11772186
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Smash.Ing.Bits Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Smash.Ing.Bits Limited is a private company, limited by shares, registered in England and Wales, registration number 11772186. The registered office is 2ND FLOOR, 22 EASTCHEAP, LONDON, EC3M 1EU, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
The accounts are presented in £ sterling. The Company's functional currency is £ sterling.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The Company has closed its biggest contract during the financial year as it is actively exploring new ventures. As it starts to see positive results from a new prospect and there are reasonable expectation that it will yield results in the short term, the Directors believe it appropriate for the going concern to be adopted for these financial statements.
4
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
50 
- 
Taxes and social security
- 
22,158 
Accruals
2,079 
610 
2,129 
22,768 
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Smash.Ing.Bits Limited Notes to the Accounts for the year ended 31 January 2024
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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