ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Company registration number: 06305660

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	73BIT LIMITED


73BIT LIMITED

COMPANY INFORMATION

Directors	G.V. Shah
	V.C. Shetty
	C. M. Da Costa


Registered number	06305660


Registered office	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


Accountants	Menzies LLP
	Chartered Accountants
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


73BIT LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


73BIT LIMITED REGISTERED NUMBER:06305660

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	4		44		62
			44		62
Current assets
Debtors: amounts falling due within one year	5	139,499		64,425
Cash at bank and in hand		635,297		654,561
		774,796		718,986
Creditors: amounts falling due within one year	6	(96,350)		(169,485)
Net current assets			678,446		549,501
Total assets less current liabilities			678,490		549,563

Net assets			678,490		549,563

Capital and reserves
Allotted, called up and fully paid share capital	100	100
Profit and loss account	678,390	549,463
	678,490	549,563

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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.

Page 1


73BIT LIMITED REGISTERED NUMBER:06305660

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G.V. Shah

Director

Date: 22 September 2025

The notes on pages 3 to 5 form part of these financial statements.

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73BIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

73Bit Limited is a private Company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the Company information page. There is no principal place of business.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is generated from the provision of benchmarking software services and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	20%	Reducing balance
				Equipment	-	33%	Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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73BIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2024	7,492
	At 31 March 2025	7,492
	Depreciation
	At 1 April 2024	7,430
	Charge for the year	18
	At 31 March 2025	7,448
	Net book value
	At 31 March 2025	44
	At 31 March 2024	62

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73BIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	130,646	62,812
Prepayments and accrued income	8,853	1,613
	139,499	64,425

Trade creditors	2,850	-
Corporation tax	69,750	91,314
Other taxation and social security	11,292	65,773
Other creditors	38	338
Accruals and deferred income	12,420	12,060
	96,350	169,485

7.	Related party transactions
	Included within other creditors are the following transactions with the directors.

		2025	2024
		£	£

Balance outstanding at start of year	(338)	(242)
Amounts advanced	850	1,104
Amounts repaid	(550)	(1,200)
	(38)	(338)

No interest has been charged on this loan. The loan is repayable on demand.

8.	Prior year adjustment

During the financial year, the directors identified that the company had incorrectly applied the Flat Rate VAT Scheme in previous accounting periods. As a result of this adjustment, creditors as at 31 March 2024 have increased by £24,893, with a corresponding reduction in the profit and loss account of £12,239 and reduction in the profit and loss account brought forward of £12,654. There has been no impact to current or deferred tax.

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