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COMPANY REGISTRATION NUMBER: 11767054
Whitecap Capital Limited
Filleted unaudited financial statements
31 March 2022
Whitecap Capital Limited
Statement of financial position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Investments
5
30,000
30,000
Current assets
Cash at bank and in hand
16
726
Creditors: amounts falling due within one year
6
33,435
32,954
-------
-------
Net current liabilities
33,419
32,228
-------
-------
Total assets less current liabilities
( 3,419)
( 2,228)
------
------
Net liabilities
( 3,419)
( 2,228)
------
------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 3,519)
( 2,328)
------
------
Shareholders funds
( 3,419)
( 2,228)
------
------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 September 2022 , and are signed on behalf of the board by:
Mr J Wells
Mr R Coates
Director
Director
Company registration number: 11767054
Whitecap Capital Limited
Notes to the financial statements
year ended 31 March 2022
1. General information
The principal activities are marketing consultancy and holding shares in unquoted companies. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gresham House, 5-7 St Pauls Street, Leeds, West Yorkshire, LS1 2JG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis which assumes that the Company will be able to meet its liabilities as they fall due for payment for the foreseeable future. The Company is dependent upon the support of The Directors, who have confirmed that they will continue to offer their financial support for the foreseeable future. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee information
The only employees of the company are the directors.
5. Investments
Other investments other than loans
£
Cost
At 1 April 2021 and 31 March 2022
30,000
-------
Impairment
At 1 April 2021 and 31 March 2022
-------
Carrying amount
At 31 March 2022
30,000
-------
At 31 March 2021
30,000
-------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
32,350
32,000
Accruals and deferred income
1,025
950
Social security and other taxes
60
4
-------
-------
33,435
32,954
-------
-------