Bitlake Ltd 12202827 false 2019-09-12 2020-09-30 2020-09-30 The principal activity of the company is of providing search engine optimisation and online marketing services. Digita Accounts Production Advanced 6.26.9041.0 true 12202827 2019-09-12 2020-09-30 12202827 2020-09-30 12202827 core:CurrentFinancialInstruments 2020-09-30 12202827 core:CurrentFinancialInstruments core:WithinOneYear 2020-09-30 12202827 bus:SmallEntities 2019-09-12 2020-09-30 12202827 bus:AuditExemptWithAccountantsReport 2019-09-12 2020-09-30 12202827 bus:FullAccounts 2019-09-12 2020-09-30 12202827 bus:SmallCompaniesRegimeForAccounts 2019-09-12 2020-09-30 12202827 bus:RegisteredOffice 2019-09-12 2020-09-30 12202827 bus:Director1 2019-09-12 2020-09-30 12202827 bus:PrivateLimitedCompanyLtd 2019-09-12 2020-09-30 12202827 countries:AllCountries 2019-09-12 2020-09-30 iso4217:GBP xbrli:pure

Registration number: 12202827

Bitlake Ltd

Annual Report and Unaudited Financial Statements

for the Period from 12 September 2019 to 30 September 2020

 

Bitlake Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Bitlake Ltd

Company Information

Director

Christian Mader

Registered office

65 London Wall
London
EC2M 5TU

Accountants

1Office Group Ltd
65 London Wall
London
EC2M 5TU

 

Bitlake Ltd

(Registration number: 12202827)
Balance Sheet as at 30 September 2020

Note

2020
£

Current assets

 

Debtors

4

1,060

Cash at bank and in hand

 

428

 

1,488

Creditors: Amounts falling due within one year

5

(1,154)

Net assets

 

334

Capital and reserves

 

Called up share capital

100

Profit and loss account

234

Shareholders' funds

 

334

For the financial period ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 December 2020
 

.........................................

Christian Mader
Director

 

Bitlake Ltd

Notes to the Unaudited Financial Statements for the Period from 12 September 2019 to 30 September 2020

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
65 London Wall
London
EC2M 5TU

These financial statements were authorised for issue by the director on 8 December 2020.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of the financial statements is pound sterling (£).

Covid-19
Covid-19 is not expected to have a significant impact on the entity. Management has determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern. It expects that Covid-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Bitlake Ltd

Notes to the Unaudited Financial Statements for the Period from 12 September 2019 to 30 September 2020

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Debtors

2020
£

Trade debtors

517

Prepayments

443

Other debtors

100

1,060

 

Bitlake Ltd

Notes to the Unaudited Financial Statements for the Period from 12 September 2019 to 30 September 2020

5

Creditors

Creditors: amounts falling due within one year

2020
£

Due within one year

Trade creditors

408

Taxation and social security

100

Other creditors

646

1,154