Company Registration No. 13097357 (England and Wales)
Bitsec International Ltd
Unaudited accounts
for the year ended 31 December 2023
Bitsec International Ltd
Unaudited accounts
Contents
Bitsec International Ltd
Company Information
for the year ended 31 December 2023
Company Number
13097357 (England and Wales)
Registered Office
2 PAUL GARDENS
CROYDON
CR0 5QL
ENGLAND
Accountants
Milton & Co
International Accountants
2 Paul Gardens
Croydon
Surrey
CR0 5QL
Bitsec International Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
8,846
11,795
Cash at bank and in hand
26,098
27,087
Creditors: amounts falling due within one year
(5,079)
(6,301)
Net current assets
21,019
20,786
Called up share capital
1
1
Profit and loss account
29,864
32,580
Shareholders' funds
29,865
32,581
For the year ending 31 December 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 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 9 January 2024 and were signed on its behalf by
F L D Pires
Director
Company Registration No. 13097357
Bitsec International Ltd
Notes to the Accounts
for the year ended 31 December 2023
Bitsec International Ltd is a private company, limited by shares, registered in England and Wales, registration number 13097357. The registered office is 2 PAUL GARDENS, CROYDON, CR0 5QL, ENGLAND. The principal place of business is 187 Old Lodge Lane, Purley, Surrey, CR8 4AW, UK.
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Fixtures & fittings
25% reducing balance basis
Computer equipment
25% reducing balance basis
The principal activity of the Company is that of IT Consultants.
The Director recommends the payment of a Dividend of £2000 (2022: £2000)
The accounts have been drawn up on the going concern basis following the Director’s assessment of the company’s ability to trade for at least 12 months from the date these accounts have been approved. In conclusion, whilst there is some uncertainty, the Director does not believe there is a material uncertainty which casts significant doubt on the company’s ability to continue to trade.
Bitsec International Ltd
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
20,094
880
20,974
At 31 December 2023
20,094
880
20,974
At 1 January 2023
8,794
385
9,179
Charge for the year
2,825
124
2,949
At 31 December 2023
11,619
509
12,128
At 31 December 2023
8,475
371
8,846
At 31 December 2022
11,300
495
11,795
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
2,039
1,261
Loans from directors
-
2,000
Allotted, called up and fully paid:
1 Ordinary shares - F Pires of £1 each
1
1
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).