REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the period |
|
5 August 2019 to 31 August 2020 |
|
for |
|
Tokenized Ltd |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the period |
|
5 August 2019 to 31 August 2020 |
|
for |
|
Tokenized Ltd |
Tokenized Ltd (Registered number: 12139817) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the period 5 August 2019 to 31 August 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Tokenized Ltd |
|
Company Information |
for the period 5 August 2019 to 31 August 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Management Accountants |
Suite 9 |
30 Bancroft |
Hitchin |
Hertfordshire |
SG5 1LE |
Tokenized Ltd (Registered number: 12139817) |
|
Balance Sheet |
31 August 2020 |
|
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
CURRENT ASSETS |
Debtors | 5 |
|
Cash at bank |
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
|
RESERVES |
Retained earnings | ( |
) |
( |
) |
|
|
|
|
|
The directors acknowledge their 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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Tokenized Ltd (Registered number: 12139817) |
|
Notes to the Financial Statements |
for the period 5 August 2019 to 31 August 2020 |
|
1. | STATUTORY INFORMATION |
|
Tokenized Ltd is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses. |
|
Development costs are currently not being amortised as the product is not yet in use. |
|
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. |
|
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 period 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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
Going concern |
Although the company has net liabilities the directors believe that the accounts can be prepared on a Going Concern basis. The deficit is due to initial investment in IT and other resources, and the company is expected to move to a net assets position in the medium term. |
|
Government grant |
Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss. |
Tokenized Ltd (Registered number: 12139817) |
|
Notes to the Financial Statements - continued |
for the period 5 August 2019 to 31 August 2020 |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the period was NIL. |
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
|
At 31 August 2020 |
|
NET BOOK VALUE |
At 31 August 2020 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
|
Other creditors |
|
|
|
7. | RELATED PARTY DISCLOSURES |
|
The company is a wholly owned subsidiary of Tokenized Group Pty Limited. |
|
The following are included within Other Creditors, see note 6: |
i) £283,358 owed to Tokenized Pty Ltd, another subsidiary within the group |
ii) £19,999 owed to Tokenized Group Pty Ltd, the parent company |
|
The loans are interest free and repayable on demand. |
|
The ultimate controlling party is
|