2023-06-152024-06-302024-06-30false14938987LYBELL GRAPHCHAIN 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LYBELL GRAPHCHAIN LTD

Registered Number
14938987
(England and Wales)

Unaudited Financial Statements for the Period ended
30 June 2024

LYBELL GRAPHCHAIN LTD
Company Information
for the period from 15 June 2023 to 30 June 2024

Directors

CARR, Christopher, Dr
VIE, Knut Jorgen

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

14938987 (England and Wales)
LYBELL GRAPHCHAIN LTD
Balance Sheet as at
30 June 2024

Notes

2024

£

£

Fixed assets
Intangible assets3272,139
Tangible assets4431
272,570
Current assets
Debtors10,726
Cash at bank and on hand53,887
64,613
Creditors amounts falling due within one year5(428,608)
Net current assets (liabilities)(363,995)
Total assets less current liabilities(91,425)
Net assets(91,425)
Capital and reserves
Called up share capital1
Profit and loss account(91,426)
Shareholders' funds(91,425)
The financial statements were approved and authorised for issue by the Board of Directors on 12 February 2025, and are signed on its behalf by:
CARR, Christopher, Dr
Director
Registered Company No. 14938987
LYBELL GRAPHCHAIN LTD
Notes to the Financial Statements
for the period ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Crypto currency intangible assets are revalued to fair value at year end.
Cryptocurrency assets
Cryptocurrency assets (under IAS 38) are recorded as intangible assets and can be measured at either cost or revaluation. The company has elected to measure them at revaluation as there is now an active market across across many digital exchanges. Therefore, these are recognised at fair value. The assets are held for investment purposes and therefore cannot be recognised as stock as they are not being held for sale in the ordinary course of business.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

2024
Average number of employees during the year1
3.Intangible assets

Other

Total

££
Cost or valuation
Additions481,045481,045
Revaluations(15,750)(15,750)
Transfers(193,156)(193,156)
At 30 June 24272,139272,139
Net book value
At 30 June 24272,139272,139
At 14 June 23--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions500500
At 30 June 24500500
Depreciation and impairment
Charge for year6969
At 30 June 246969
Net book value
At 30 June 24431431
At 14 June 23--
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables9,571
Convertible loans416,922
Other creditors2,115
Total428,608