Company registration number 09221291 (England and Wales)
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
COMPANY INFORMATION
Directors
Mr D L Masters
Mr M Griffiths
Mr C Morris
Mr J Bennett
Mr C R Erith
Company number
09221291
Registered office
Kells
Burnt Oak
East Bergholt
Suffolk
CO7 6TL
Accountants
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
CONTENTS
Page
Accountants' report
1
Statement of comprehensive income
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 9
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BYTETREE GROUP LTD FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ByteTree Group Ltd for the year ended 30 September 2024 which comprise, the statement of comprehensive income, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of ByteTree Group Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of ByteTree Group Ltd and state those matters that we have agreed to state to the Board of Directors of ByteTree Group Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ByteTree Group Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that ByteTree Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ByteTree Group Ltd. You consider that ByteTree Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ByteTree Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kirk Rice LLP
27 June 2025
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
2024
2023
£
£
Loss for the year
(138,618)
(193,987)
Other comprehensive income
Revaluation of tangible fixed assets
(2,740)
(3,756)
Total comprehensive income for the year
(141,358)
(197,743)
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
10,014
31,885
Tangible assets
4
402
95
Investments
5
29,158
31,898
39,574
63,878
Current assets
Debtors
6
381,340
204,867
Cash at bank and in hand
4,094
2,986
385,434
207,853
Creditors: amounts falling due within one year
7
(75,834)
(88,380)
Net current assets
309,600
119,473
Total assets less current liabilities
349,174
183,351
Creditors: amounts falling due after more than one year
8
(157,180)
-
0
Net assets
191,994
183,351
Capital and reserves
Called up share capital
18
17
Share premium account
1,792,679
1,642,679
Revaluation reserve
(942)
1,798
Profit and loss reserves
(1,599,761)
(1,461,143)
Total equity
191,994
183,351

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mr C Morris
Director
Company Registration No. 09221291
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
Accounting policies
Company information

ByteTree Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Kells, Burnt Oak, East Bergholt, Suffolk, CO7 6TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They anticipate growth in future revenues and the generation of operating profits, while retaining the ability to raise capital in the short-term as required by the business. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover relates to cryptocurrency services provided and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised in line with the performance of these services.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Research and development expenditure

Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. In this case the development is expected to create a lasting asset which will generate future revenues.

1.5
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Development costs are recognised as an intangible asset when it can be demonstrated that the costs are incurred in generating software that can be used to generate future income.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
5 year straight line
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 year straight line
Computers
3 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.

Cryptocurrencies are treated as an intangible asset investment as it is separable and arises from contractual rights of ownership. The assets are not intended to be used in the ordinary course of business and are instead held for capital appreciation. The revaluation model is used because there is an active market for the assets.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.9
Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Basic financial liabilities

Creditors are not interest bearing and are included at their nominal value.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
5
3
Intangible fixed assets
Development costs
£
Cost
At 1 October 2023 and 30 September 2024
292,960
Amortisation and impairment
At 1 October 2023
261,075
Amortisation charged for the year
21,871
At 30 September 2024
282,946
Carrying amount
At 30 September 2024
10,014
At 30 September 2023
31,885
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 October 2023
428
12,575
13,003
Additions
-
0
600
600
At 30 September 2024
428
13,175
13,603
Depreciation and impairment
At 1 October 2023
428
12,480
12,908
Depreciation charged in the year
-
0
293
293
At 30 September 2024
428
12,773
13,201
Carrying amount
At 30 September 2024
-
0
402
402
At 30 September 2023
-
0
95
95
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Other investments other than loans
29,058
31,798
29,158
31,898
Movements in fixed asset investments
Shares in subsidiaries
Other
Total
£
£
£
Cost or valuation
At 1 October 2023
100
31,798
31,898
Valuation changes
-
(2,740)
(2,740)
At 30 September 2024
100
29,058
29,158
Carrying amount
At 30 September 2024
100
29,058
29,158
At 30 September 2023
100
31,798
31,898
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
226,165
172,119
Other debtors
155,175
32,748
381,340
204,867
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
185
140
Taxation and social security
5,771
3,357
Other creditors
69,878
84,883
75,834
88,380
BYTETREE GROUP LTD
(FORMERLY KNOWN AS CRYPTO COMPOSITE LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
157,180
-
0
9
Directors' transactions

The following loan has been granted to a company director and is repayable on demand. Interest was charged at 2.25% until 5 April 2024, since that date the loan is interest-free.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Mr C Morris - Loan
-
4,000
146,000
844
150,844
4,000
146,000
844
150,844
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