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REGISTERED NUMBER: 12014013 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Speed Capital Ltd

Speed Capital Ltd (Registered number: 12014013)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Speed Capital Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D S Perel





REGISTERED OFFICE: 128 City Road
London
EC1V 2NX





REGISTERED NUMBER: 12014013 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Speed Capital Ltd (Registered number: 12014013)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,570 -
Tangible assets 5 7,369 1,719
Investments 6 10,201 4,898
33,140 6,617

CURRENT ASSETS
Debtors 7 286,859 11,228
Cash at bank 163,856 211,982
450,715 223,210
CREDITORS
Amounts falling due within one year 8 174,622 126,547
NET CURRENT ASSETS 276,093 96,663
TOTAL ASSETS LESS CURRENT LIABILITIES 309,233 103,280

CREDITORS
Amounts falling due after more than one
year

9

-

(4,085

)

PROVISIONS FOR LIABILITIES 10 (3,168 ) -
NET ASSETS 306,065 99,195

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 3,997 -
Retained earnings 301,968 99,095
SHAREHOLDERS' FUNDS 306,065 99,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Speed Capital Ltd (Registered number: 12014013)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





D S Perel - Director


Speed Capital Ltd (Registered number: 12014013)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Speed Capital Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Subscription income is non refundable and therefore recognised in the P&L as received.

Consultancy & training income is recognised when the company obtains the right to receive consideration based on services provided, with work completed which has not been invoiced at the balance sheet date included in accrued income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property rights is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Speed Capital Ltd (Registered number: 12014013)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

Speed Capital Ltd (Registered number: 12014013)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Investments
Investment fixed asset consists of crypto currency tokens which are held by the company. Crypto currency tokens are initially recognised at cost. At the balance sheet date, the assets are revalued to reflect their open market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

Speed Capital Ltd (Registered number: 12014013)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 16,038
At 31 March 2024 16,038
AMORTISATION
Charge for year 468
At 31 March 2024 468
NET BOOK VALUE
At 31 March 2024 15,570

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 7,047
Additions 6,992
At 31 March 2024 14,039
DEPRECIATION
At 1 April 2023 5,328
Charge for year 1,342
At 31 March 2024 6,670
NET BOOK VALUE
At 31 March 2024 7,369
At 31 March 2023 1,719

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 4,898
Revaluations 5,303
At 31 March 2024 10,201
NET BOOK VALUE
At 31 March 2024 10,201
At 31 March 2023 4,898

Speed Capital Ltd (Registered number: 12014013)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 5,303
Cost 4,898
10,201

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 4,898 4,898

Fixed asset investments were valued on an open market basis on 31 March 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,941 -
Amounts owed by associates 58,181 -
Other debtors 179,737 11,228
286,859 11,228

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 64,157
Taxation and social security 128,744 53,890
Other creditors 45,878 8,500
174,622 126,547

Other creditors includes amounts owed to the director.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors - 4,085

Speed Capital Ltd (Registered number: 12014013)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Revaluation of crypto assets 1,326 -
Accelerated capital allowances 1,842 -
3,168 -

Deferred
tax
£   
Provided during year 3,168
Balance at 31 March 2024 3,168

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
value
reserve
£   
Non distributable transfer 3,997

At 31 March 2024 3,997