KT Crypto Mining Consortium Limited NI676833 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is cryptocurrency mining Digita Accounts Production Advanced 6.30.9574.0 true true NI676833 2023-03-01 2024-02-29 NI676833 2024-02-29 NI676833 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-02-29 NI676833 core:CurrentFinancialInstruments 2024-02-29 NI676833 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 NI676833 core:OtherResidualIntangibleAssets 2024-02-29 NI676833 core:OtherPropertyPlantEquipment 2024-02-29 NI676833 bus:SmallEntities 2023-03-01 2024-02-29 NI676833 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI676833 bus:FilletedAccounts 2023-03-01 2024-02-29 NI676833 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI676833 bus:RegisteredOffice 2023-03-01 2024-02-29 NI676833 bus:Director1 2023-03-01 2024-02-29 NI676833 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-01 2024-02-29 NI676833 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI676833 core:IntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 NI676833 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 NI676833 core:PlantMachinery 2023-03-01 2024-02-29 NI676833 countries:NorthernIreland 2023-03-01 2024-02-29 NI676833 2023-02-28 NI676833 core:OtherResidualIntangibleAssets 2023-02-28 NI676833 core:OtherPropertyPlantEquipment 2023-02-28 NI676833 2022-03-01 2023-02-28 NI676833 2023-02-28 NI676833 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 NI676833 core:CurrentFinancialInstruments 2023-02-28 NI676833 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 NI676833 core:OtherResidualIntangibleAssets 2023-02-28 NI676833 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI676833

KT Crypto Mining Consortium Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

KT Crypto Mining Consortium Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

KT Crypto Mining Consortium Limited

Company Information

Director

Mrs Marion Thomas

Registered office

Room Sf2
11-14 Newry Street
Warrenpoint
Newry
Co. Down
BT34 3JZ

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

KT Crypto Mining Consortium Limited

(Registration number: NI676833)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

63,200

63,200

Tangible assets

5

43,506

54,382

 

106,706

117,582

Current assets

 

Debtors

6

211,000

207,000

Cash at bank and in hand

 

39,512

44,021

 

250,512

251,021

Creditors: Amounts falling due within one year

7

(600)

(600)

Net current assets

 

249,912

250,421

Net assets

 

356,618

368,003

Capital and reserves

 

Called up share capital

8

500,000

500,000

Retained earnings

(143,382)

(131,997)

Shareholders' funds

 

356,618

368,003

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mrs Marion Thomas
Director

 

KT Crypto Mining Consortium Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Room Sf2
11-14 Newry Street
Warrenpoint
Newry
Co. Down
BT34 3JZ

These financial statements were authorised for issue by the director on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

plant & machinery

20% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

intangible assets

0%

 

KT Crypto Mining Consortium Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

KT Crypto Mining Consortium Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2023

63,200

63,200

At 29 February 2024

63,200

63,200

Amortisation

Carrying amount

At 29 February 2024

63,200

63,200

At 28 February 2023

63,200

63,200

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

84,973

84,973

At 29 February 2024

84,973

84,973

Depreciation

At 1 March 2023

30,591

30,591

Charge for the year

10,876

10,876

At 29 February 2024

41,467

41,467

Carrying amount

At 29 February 2024

43,506

43,506

At 28 February 2023

54,382

54,382

6

Debtors

Current

2024
£

2023
£

Other debtors

211,000

207,000

 

211,000

207,000

7

Creditors

Creditors: amounts falling due within one year

 

KT Crypto Mining Consortium Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2024
£

2023
£

Due within one year

Trade creditors

600

600

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

500,000

500,000

500,000

500,000