Registered number
08348255
Bet Invest Limited
Filleted Accounts
31 January 2024
Bet Invest Limited
Registered number: 08348255
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,437,811 1,410,142
Current assets
Debtors 4 11,579,092 11,203,778
Investments held as current assets 5 1,379,319 1,379,319
Cash at bank and in hand 142,984 48,565
13,101,395 12,631,662
Creditors: amounts falling due within one year 6 (14,226,218) (13,811,302)
Net current liabilities (1,124,823) (1,179,640)
Net assets 312,988 230,502
Capital and reserves
Called up share capital 1 1
Profit and loss account 312,987 230,501
Shareholder's funds 312,988 230,502
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Matiukha
Director
Approved by the board on 23 October 2024
Bet Invest Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Each year, management makes an assessment of the intangible assets’ fair value. The directors are of the opinion that the balance sheet cost is equal to their value.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Software platforms:
Cost
At 1 February 2023 1,410,142
Additions 27,669
At 31 January 2024 1,437,811
Amortisation
At 31 January 2024 -
Net book value
At 31 January 2024 1,437,811
At 31 January 2023 1,410,142
Each year, management makes an assessment of the intangible assets' fair value. The directors are of the opinion that the balance sheet cost is equal to their fair value.
4 Debtors 2024 2023
£ £
Trade debtors 1,031,613 1,030,663
Other debtors 10,547,479 10,173,115
11,579,092 11,203,778
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 1,379,319 1,379,319
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,007,491 2,101,104
Taxation and social security costs (343,786) -
Other creditors 11,562,513 11,710,198
14,226,218 13,811,302
7 Other information
Bet Invest Limited is a private company limited by shares and incorporated in England. Its registered office is:
4th Floor, Silverstream House
45 Fitzroy Street, Fitzrovia
London
United Kingdom
W1T 6EB
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