Kadifoo Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09279705 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

KADIFOO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

E A Harrison

REGISTERED OFFICE:

Citylab

4-6 Dalton Square

Lancaster

Lancashire

LA1 1PP

REGISTERED NUMBER:

09279705 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Intangible assets

4

210,673

2,760

Tangible assets

5

2,823

1,891

213,496

4,651

CURRENT ASSETS

Stocks

6

-

185,493

Debtors

7

8,794

8,288

Cash at bank

4

90,942

8,798

284,723

CREDITORS

Amounts falling due within one year

8

175,968

234,021

NET CURRENT (LIABILITIES)/ASSETS

(167,170

)

50,702

TOTAL ASSETS LESS CURRENT
LIABILITIES

46,326

55,353

CREDITORS

Amounts falling due after more than one
year

9

-

2,100

NET ASSETS

46,326

53,253

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

46,226

53,153

46,326

53,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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.

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 30 October 2026 and were signed by:

E A Harrison - Director

1.	STATUTORY INFORMATION

Kadifoo 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, including the provisions of Section 1A Small Entities, and the requirements of the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, except where otherwise stated in the accounting policies.

These are the company's first financial statements prepared in accordance with FRS 102. The financial statements for the previous financial year were prepared in accordance with FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The comparative information has been restated, where necessary, to reflect the transition to FRS 102.

Turnover

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

Cryptoassets

Cryptoassets held for longer-term investments are recognised at cost less amortisation over its ten year useful life. The asset will be reviewed annually for impairment. Gains or losses are recognised on disposal.

Computer software

Computer software is being amortised evenly over its estimated useful life of five years. The asset will be reviewed annually for impairment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost and 20% on reducing balance

Stocks

The company held cryptocurrency as stock, as it was traded in the ordinary course of business. Stocks were measured at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Other income

Gains realised on the disposal of cryptoassets during the year, calculated as the proceeds received less the carrying value of the cryptoassets disposed of.

The company earns additional cryptocurrency through staking and/or mining activities. These rewards are recognised as revenue in the period in which they are received or become receivable, measured at the fair value of the cryptocurrency at the date of receipt.

Going concern

The directors have a reasonable expectation that the company holds sufficient resources to continue in operational existence for the foreseeable future. Therefore the going concern basis has been adopted in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Cryptocurrency

software

Totals

£

COST

At 1 November 2024

-

3,442

Additions

457,344

-

457,344

Disposals

(198,748

)

-

(198,748

)

Impairments

(50,000

)

-

(50,000

)

At 31 October 2025

208,596

3,442

212,038

AMORTISATION

At 1 November 2024

-

682

Amortisation for year

-

683

At 31 October 2025

-

1,365

NET BOOK VALUE

At 31 October 2025

208,596

2,077

210,673

At 31 October 2024

-

2,760

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2024

8,449

Additions

1,647

At 31 October 2025

10,096

DEPRECIATION

At 1 November 2024

6,558

Charge for year

715

At 31 October 2025

7,273

NET BOOK VALUE

At 31 October 2025

2,823

At 31 October 2024

1,891

6.

STOCKS

31/10/25

31/10/24

£

Stocks

-

185,493

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

Trade debtors

-

8,288

Deferred tax asset

8,794

-

8,794

8,288

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

Bank loans and overdrafts

2,490

3,600

Tax

18,965

8,826

VAT

6,551

17,353

Other creditors

-

20,000

Directors' current accounts

140,693

180,440

Accruals and deferred income

3,799

3,802

Accrued expenses

3,470

-

175,968

234,021

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31/10/25

31/10/24

£

Bank loans - 1-2 years

-

2,100

10.	RELATED PARTY DISCLOSURES

The Company incurred management charges of £63,500 during the year from Exodio Labs Ltd, a company under common control. At the year end, no amounts were due to or from Exodio Labs Ltd.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is E A Harrison.