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Company Registration No. 13480329 (England and Wales)
Twelve Bit Ltd Unaudited accounts for the year ended 30 June 2024
Twelve Bit Ltd Unaudited accounts Contents
Page
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Twelve Bit Ltd Company Information for the year ended 30 June 2024
Director
Olegs Mihailovs
Company Number
13480329 (England and Wales)
Registered Office
Flat 3, 45 Sussex Square Brighton BN2 1GE United Kingdom
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Twelve Bit Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,666 
2,654 
Current assets
Debtors
1,860 
- 
Cash at bank and in hand
57,722 
23,817 
59,582 
23,817 
Creditors: amounts falling due within one year
(27,358)
(25,196)
Net current assets/(liabilities)
32,224 
(1,379)
Net assets
34,890 
1,275 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
34,880 
1,265 
Shareholders' funds
34,890 
1,275 
For the year ending 30 June 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 14 March 2025 and were signed on its behalf by
Olegs Mihailovs Director Company Registration No. 13480329
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Twelve Bit Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Twelve Bit Ltd is a private company, limited by shares, registered in England and Wales, registration number 13480329. The registered office is Flat 3, 45 Sussex Square, Brighton, BN2 1GE, United Kingdom.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
reducing balance basis at 20%
Computer equipment
reducing balance basis at 33.3%
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.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
599 
3,406 
4,005 
Additions
1,057 
- 
1,057 
At 30 June 2024
1,656 
3,406 
5,062 
Depreciation
At 1 July 2023
216 
1,135 
1,351 
Charge for the year
288 
757 
1,045 
At 30 June 2024
504 
1,892 
2,396 
Net book value
At 30 June 2024
1,152 
1,514 
2,666 
At 30 June 2023
383 
2,271 
2,654 
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Twelve Bit Ltd Notes to the Accounts for the year ended 30 June 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,860 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
7,946 
4,683 
Loans from directors
19,156 
20,257 
Accruals
256 
256 
27,358 
25,196 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £0.10 each
10 
10 
8
Average number of employees
During the year the average number of employees was 0 (2023: 1).
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