REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
STANDARD CAPITAL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
STANDARD CAPITAL LIMITED |
STANDARD CAPITAL LIMITED (REGISTERED NUMBER: 06415028) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
STANDARD CAPITAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Lexicon |
10-12 Mount Street |
Manchester |
M2 5NT |
STANDARD CAPITAL LIMITED (REGISTERED NUMBER: 06415028) |
BALANCE SHEET |
30 NOVEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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 director and authorised for issue on |
STANDARD CAPITAL LIMITED (REGISTERED NUMBER: 06415028) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
1. | STATUTORY INFORMATION |
Standard Capital Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Judgments and key sources of estimation uncertainty |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associate assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
During the year the director continued to hold their investment in the NFT transferred into the business on 15 September 2021. The judgements and key estimates in relation to this is that it is treated as an intangible asset being amortised over its useful life. |
Intangible fixed assets other than goodwill |
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separate from the entity. |
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful life on the following bases: |
NFTS Straight line over 10 years |
STANDARD CAPITAL LIMITED (REGISTERED NUMBER: 06415028) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Impairment of fixed assets |
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. |
If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. |
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
Going concern |
The company is reliant on the continued financial support from the director, who has provided confirmation of such financial support for the foreseeable future. On this basis these financial statements have been prepared on the going concern basis. The director has reasonable expectation that the company will continue in operational existence for the foreseeable future. |
3. | EMPLOYEES |
The average number of employees during the year was |
STANDARD CAPITAL LIMITED (REGISTERED NUMBER: 06415028) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
4. | INTANGIBLE FIXED ASSETS |
Genesis |
NFT |
£ |
COST OR VALUATION |
At 1 December 2021 |
Revaluations | ( |
) |
At 30 November 2022 |
AMORTISATION |
At 1 December 2021 |
Amortisation for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
The NFTs were revalued at 30 November 2022 based on market value. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Directors' current accounts | 7,808 | 7,375 |
Accruals and deferred income |
6. | DIRECTORS' TRANSACTIONS |
At the balance sheet date, the company owed the director £7,808 (2021 - £7,375). This amount is interest free and repayable on demand. |