Lithium Digital Limited
Unaudited accounts
Contents
Lithium Digital Limited
Statement of financial position
as at 31 August 2022
Intangible assets
219,832
381,910
Tangible assets
16,257
22,220
Cash at bank and in hand
69,243
109,358
Creditors: amounts falling due within one year
(96,555)
(82,813)
Net current (liabilities)/assets
(25,634)
31,474
Total assets less current liabilities
210,455
435,604
Provisions for liabilities
Deferred tax
(3,089)
(4,222)
Net assets
207,366
431,382
Called up share capital
2
2
Revaluation reserve
10,782
67,114
Profit and loss account
196,582
364,266
Shareholders' funds
207,366
431,382
For the year ending 31 August 2022 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 25 April 2023 and were signed on its behalf by
P Obuzor
Director
Company Registration No. 12813175
Lithium Digital Limited
Notes to the Accounts
for the year ended 31 August 2022
Lithium Digital Limited is a private company, limited by shares, registered in England and Wales, registration number 12813175. The registered office is 4.03 Imperial Court, Building 2, Exchange Quay, Salford Quays, Salford, Greater Manchester, M5 3EB.
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.
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
3 Years
Intangible fixed assets are included at their revalued amount at the end of the year.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Lithium Digital Limited
Notes to the Accounts
for the year ended 31 August 2022
4
Intangible fixed assets
Total
At 1 September 2021
381,910
5
Tangible fixed assets
Total
At 1 September 2021
29,259
6
Transactions with related parties
The directors charged the company rent of £3177 (2021: £624).
The director also made an interest free loan to the company of £96,554 (2021: £1319.77). The director reserves the right to charge the company interest at any stage.
7
Average number of employees
During the year the average number of employees was 2 (2021: 1).
