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Company No: 11212603 (England and Wales)

MAGGIE'S CRYPTO FARM LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

MAGGIE'S CRYPTO FARM LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

MAGGIE'S CRYPTO FARM LTD

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
MAGGIE'S CRYPTO FARM LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 4 78,209 78,209
Tangible assets 5 107,920 163,388
186,129 241,597
Current assets
Debtors 6 1,298,491 0
Investments 7 104,221 0
Cash at bank and in hand 8 105,536 350,737
1,508,248 350,737
Creditors: amounts falling due within one year 9 ( 336,988) ( 26,891)
Net current assets 1,171,260 323,846
Total assets less current liabilities 1,357,389 565,443
Net assets 1,357,389 565,443
Capital and reserves
Called-up share capital 10 1,000 1,000
Profit and loss account 1,356,389 564,443
Total shareholder's funds 1,357,389 565,443

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Maggie's Crypto Farm Ltd (registered number: 11212603) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Smith
Director

21 October 2024

MAGGIE'S CRYPTO FARM LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
MAGGIE'S CRYPTO FARM LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Maggie's Crypto Farm Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 167-169 Great Portland Street, 5th Floor, London 167-169, Great Portland Street, London, W1W 5PF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Dividends on equity shares

2024 2023
£ £
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 29 February 2024 of £100.00 (2023: £Nil) per ordinary share 100,000 0

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 March 2023 78,209 78,209
At 29 February 2024 78,209 78,209
Accumulated amortisation
At 01 March 2023 0 0
At 29 February 2024 0 0
Net book value
At 29 February 2024 78,209 78,209
At 28 February 2023 78,209 78,209

5. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 March 2023 306,422 306,422
Additions 56,648 56,648
At 29 February 2024 363,070 363,070
Accumulated depreciation
At 01 March 2023 143,034 143,034
Charge for the financial year 112,116 112,116
At 29 February 2024 255,150 255,150
Net book value
At 29 February 2024 107,920 107,920
At 28 February 2023 163,388 163,388

6. Debtors

2024 2023
£ £
Trade debtors 1,295,993 0
Other debtors 2,498 0
1,298,491 0

7. Current asset investments

2024 2023
£ £
Other investments – at cost less impairment 106,074 0

8. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 105,536 350,737

9. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 329,668 20,891
Other creditors 7,320 6,000
336,988 26,891

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

11. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Other debtors 2,498 0

Included within other debtors due within one year is an amount due from the director of £2,498 (2023: Nil). The balance is unsecured, interest free and repayable upon demand.

Other related party transactions

2024 2023
£ £
Trade debtors 1,295,993 0

Included within trade debtors due within one year, is an amount of £1,295,993 due from a company which is under common control.