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Company Registration No. 11195139 (England and Wales)
BITBLOCKASSETS LTD Unaudited accounts for the year ended 29 February 2024
BITBLOCKASSETS LTD Unaudited accounts Contents
Page
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BITBLOCKASSETS LTD Company Information for the year ended 29 February 2024
Director
Kiabod Mashad
Company Number
11195139 (England and Wales)
Registered Office
I Half Moon Street LONDON W1J 7AY ENGLAND
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BITBLOCKASSETS LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
10,711,120 
10,711,120 
Current assets
Debtors
22,985 
242,729 
Cash at bank and in hand
1,228,156 
200,026 
1,251,141 
442,755 
Creditors: amounts falling due within one year
(19,872)
(60,562)
Net current assets
1,231,269 
382,193 
Total assets less current liabilities
11,942,389 
11,093,313 
Creditors: amounts falling due after more than one year
(15,222,663)
(14,028,868)
Net liabilities
(3,280,274)
(2,935,555)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(3,280,374)
(2,935,655)
Shareholders' funds
(3,280,274)
(2,935,555)
For the 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. 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 28 October 2024 and were signed on its behalf by
Kiabod Mashad Director Company Registration No. 11195139
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BITBLOCKASSETS LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
BITBLOCKASSETS LTD is a private company, limited by shares, registered in England and Wales, registration number 11195139. The registered office is I Half Moon Street, LONDON, W1J 7AY, ENGLAND.
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.
Presentation currency
The accounts are presented in £ sterling.
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. The company generates income by letting its properties.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2024 
£ 
Fair value at 1 March 2023
10,711,120 
At 29 February 2024
10,711,120 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
22,985 
242,217 
Other debtors
- 
512 
22,985 
242,729 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
19,872 
60,562 
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BITBLOCKASSETS LTD Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,099,500 
7,520,000 
Other creditors
7,123,163 
6,508,868 
15,222,663 
14,028,868 
Other creditors" consist of shareholder loans.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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