Company Registration No. 11360377 (England and Wales)
Bippit Ltd
Unaudited accounts
for the year ended 31 May 2023
Bippit Ltd
Unaudited accounts
Contents
Bippit Ltd
Company Information
for the year ended 31 May 2023
Directors
Samuel Lathey
Andrew Baddeley
David Healy
Amber Jardine
Roger Portnoy
Company Number
11360377 (England and Wales)
Registered Office
Kemp House
160 City Road
London
EC1V 2NX
Accountants
Barnes & Scott
86-90 Paul Street
Shoreditch
London
EC2A 4NE
Bippit Ltd
Statement of financial position
as at 31 May 2023
Cash at bank and in hand
411,844
139,589
Creditors: amounts falling due within one year
(292,432)
(17,879)
Net current assets
193,158
142,561
Net assets
193,763
142,902
Called up share capital
2
2
Share premium
1,971,184
1,092,209
Capital contribution reserve
79,443
-
Profit and loss account
(1,856,866)
(949,309)
Shareholders' funds
193,763
142,902
For the year ending 31 May 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by
Samuel Lathey
Director
Company Registration No. 11360377
Bippit Ltd
Notes to the Accounts
for the year ended 31 May 2023
Bippit Ltd is a private company, limited by shares, registered in England and Wales, registration number 11360377. The registered office is Kemp House, 160 City Road, London, EC1V 2NX.
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 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
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:
Computer equipment
20% Straight Line
The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and anticipated cash flows, availability of financing facilities and mitigating actions that can be taken during the period.
Bippit Ltd
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2022
-
1,645
1,645
At 31 May 2023
669
1,645
2,314
At 1 June 2022
-
1,304
1,304
Charge for the year
76
329
405
At 31 May 2023
76
1,633
1,709
Amounts falling due within one year
Trade debtors
61,328
20,851
Accrued income and prepayments
12,418
-
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
42,177
6,038
Loans from directors
11,378
10,643
7
Capital contribution reserve
This reserve relates to movement to the Employee Share Option Scheme.
Included in creditors is £11,378 (2022: £10,643) owed to the directors of the company.
9
Average number of employees
During the year the average number of employees was 10 (2022: 6).