Company Registration No. 11195139 (England and Wales)
BITBLOCKASSETS LTD
Unaudited accounts
for the year ended 29 February 2024
BITBLOCKASSETS LTD
Unaudited accounts
Contents
BITBLOCKASSETS LTD
Company Information
for the year ended 29 February 2024
Company Number
11195139 (England and Wales)
Registered Office
I Half Moon Street
LONDON
W1J 7AY
ENGLAND
BITBLOCKASSETS LTD
Statement of financial position
as at 29 February 2024
Investment property
10,711,120
10,711,120
Cash at bank and in hand
1,228,156
200,026
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)
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
BITBLOCKASSETS LTD
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
Fair value at 1 March 2023
10,711,120
At 29 February 2024
10,711,120
Amounts falling due within one year
Accrued income and prepayments
22,985
242,217
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
19,872
60,562
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
Other creditors" consist of shareholder loans.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).