REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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COIN MINING CENTRAL LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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FOR |
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COIN MINING CENTRAL LTD |
COIN MINING CENTRAL LTD (REGISTERED NUMBER: 11800885) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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COIN MINING CENTRAL LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
COIN MINING CENTRAL LTD (REGISTERED NUMBER: 11800885) |
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BALANCE SHEET |
26 AUGUST 2021 |
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2021 | 2020 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
COIN MINING CENTRAL LTD (REGISTERED NUMBER: 11800885) |
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BALANCE SHEET - continued |
26 AUGUST 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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COIN MINING CENTRAL LTD (REGISTERED NUMBER: 11800885) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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1. | STATUTORY INFORMATION |
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Coin Mining Central Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been compiled on a basis which enables profits to be calculated in accordance with generally accepted accounting practice and which provides sufficient and relevant information to enable the completion of a tax return. |
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The income statement and director's report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small regime. |
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Turnover |
Turnover is measured at the fair value of the consideration received once products are shipped and the risks and rewards of ownership is transferred to buyer. |
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Intangible assets- cryptocurrency |
Intangible assets comprise of cryptocurrency assets that are initially measured at cost less any accumulated impairment loss. The disposals are calculated using weighted average cost and reviewed at year end for any impairment i.e. comparing weighted average cost to fair value. |
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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
COIN MINING CENTRAL LTD (REGISTERED NUMBER: 11800885) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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 using average rates of exchange, including Cryptocurrencies which the company uses as a medium of exchange when buying and selling goods. |
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Exchange differences are taken into account in arriving at the operating result. Other financial instruments are measured at fair value as at the balance sheet date with changes in their fair value recognised in the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Intangible |
asset |
£ |
COST |
At 29 February 2020 |
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Additions |
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At 26 August 2021 |
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NET BOOK VALUE |
At 26 August 2021 |
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At 28 February 2020 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 29 February 2020 |
and 26 August 2021 |
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DEPRECIATION |
At 29 February 2020 |
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Charge for period |
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At 26 August 2021 |
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NET BOOK VALUE |
At 26 August 2021 |
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At 28 February 2020 |
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COIN MINING CENTRAL LTD (REGISTERED NUMBER: 11800885) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 FEBRUARY 2020 TO 26 AUGUST 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation Tax payable |
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Social security and other taxes |
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VAT | 73,535 | 5,451 |
Other creditors |
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Wages payable | 11,406 | - |
Director's current account | 25,616 | 91,829 |
Deferred income |
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Accrued expenses |
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8. | RELATED PARTY DISCLOSURES |
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Included within creditors is an amount of £25,616 (2020: £91,289) due to directors of the company. The loan is interest free and repayable on demand. |