Bitcoiner Consulting Ltd
Statement of financial position
as at 31 January 2026
Cash at bank and in hand
1,828
Creditors: amounts falling due within one year
(42,911)
Profit and loss account
10,813
Shareholders' funds
10,814
For the period ending 31 January 2026 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 30 October 2026 and were signed on its behalf by
Benjamin De Waal
Director
Company Registration No. 16219366
Bitcoiner Consulting Ltd
Notes to the Accounts
for the period from 30 January 2025 to 31 January 2026
Bitcoiner Consulting Ltd is a private company, limited by shares, registered in England and Wales, registration number 16219366. The registered office is 167-169 Great Portland Street, London, London, W1W 5PF, England.
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.
The director has prepared a going concern assessment dated 30 October 2026, which is available with the company’s records.
The accounts are presented in £ sterling.
The financial statements have been prepared on the going concern basis. In reaching that conclusion the director has considered the period of at least twelve months from the date of approval of these financial statements, and the events set out below, which occurred after the balance sheet date.
The company’s principal customer at the balance sheet date ceased settling invoices from February 2026. The balance due from that customer has been agreed in writing by the customer and stands at £176,835 at the date of approval, of which £23,023 is included in trade debtors at 31 January 2026 and has been provided against. The customer has confirmed in writing that it is unable to give a date for payment. The director has assumed no recovery from this customer within the twelve month period.
Amounts totalling £128,300 are owed to five subcontractors for work performed after the balance sheet date and are payable in full. The company’s ability to settle them depends on the recovery of the amount due from its principal customer. Each subcontractor has acknowledged the balance in writing and has confirmed that, at the date of confirmation, no demand for payment has been made. These confirmations are statements of present position and are not agreements to defer payment.
The company’s income since July 2026 derives principally from one customer under a fixed term agreement expiring on 31 December 2026, which either party may terminate with immediate effect and under which the customer may reduce the engagement unilaterally. The customer has stated in writing that it presently intends to continue the engagement beyond that date and has no current plans to reduce its scope, while confirming that this statement is not a contractual commitment. The director has forecast on the basis that the engagement continues and has considered the position if it does not.
The director has no further personal resources available to support the company and no letter of support has been obtained.
These conditions indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern. The director has nevertheless concluded that the company will continue in operational existence for the foreseeable future, because it has a continuing customer that pays on time and has stated its intention to continue, because its creditors have not sought payment since the balances arose in February 2026, and because it has met every statutory liability as it has fallen due. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.
The accounts have been prepared under the historical cost convention.
Turnover represents amounts receivable for services provided in the period, net of VAT, recognised as the services are performed.
Bitcoiner Consulting Ltd
Notes to the Accounts
for the period from 30 January 2025 to 31 January 2026
Current asset investments comprise Bitcoin held by the company. Bitcoin is recognised at cost on acquisition, with disposals matched against cost on a pooled basis, and is carried at the lower of pooled cost and net realisable value. Net realisable value is the sterling closing price on the balance sheet date. Any write-down to net realisable value is charged to the profit and loss account in the period in which it arises. Gains and losses on disposal are recognised in the profit and loss account in the period of disposal.
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are retranslated at the rate ruling at the balance sheet date, with any difference taken to the profit and loss account.
Cost at 30 January 2025 nil; additions £47,419; impairment (£5,679); carrying amount at 31 January 2026 £41,740.
Amounts falling due within one year
6
Investments held as current assets
2026
Unlisted investments
41,740
7
Creditors: amounts falling due within one year
2026
Taxes and social security
4,658
Loans from directors
(30,077)
During the period the company supplied the personal services of the director to its principal customer, to whose board the director was appointed as Chief Technology Officer in December 2024. Fees of £47,500 were charged for those services between May and September 2025. The director has considered whether the intermediaries legislation at Chapter 8 Part 2 ITEPA 2003 applies to that engagement and has concluded, on the basis of the engagement having commenced in July 2023 under a written service order, before the customer had a board of directors, and having continued unchanged following the director’s appointment to that board, that the services did not relate to the office. A written status opinion on the remaining tests is to be obtained. If the legislation were held to apply, the company would be liable for income tax and National Insurance of between approximately £15,400 and £23,400 on a deemed employment payment, less corporation tax relief of approximately £5,500. No provision has been made.
Bitcoiner Consulting Ltd
Notes to the Accounts
for the period from 30 January 2025 to 31 January 2026
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
During the period the company advanced £33,707 to B de Waal, a director, of which £3,630 was repaid in the period. The balance at 31 January 2026 of £30,077, which includes interest of £261 charged at HMRC’s official rate of 3.75%, is unsecured, repayable on demand and is shown within creditors falling due within one year as a debit balance on the director's loan account. The balance was repaid in full after the year end.
10
Transactions with related parties
The director is also a director of the company’s principal customer. Charges to that customer during the period were £295,578, of which £23,023 was outstanding at 31 January 2026 and has been provided against in full. The director became an employee of that customer on 1 October 2025 and holds no shares in it.
11
Average number of employees
During the period the average number of employees was 1.