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Registration number: 05752148

Captivent Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Captivent Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Captivent Limited

Company Information

Directors

C P Jackson

N F Jackson

Registered office

Butley Ash Studio
North Road
Bath
Somerset
BA2 6HB

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Captivent Limited

(Registration number: 05752148)
Balance Sheet
31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

467

714

Current assets

 

Debtors

5

2,906

161

Cash at bank and in hand

 

165

36

 

3,071

197

Creditors: Amounts falling due within one year

6

(12,249)

(7,985)

Net current liabilities

 

(9,178)

(7,788)

Total assets less current liabilities

 

(8,711)

(7,074)

Creditors: Amounts falling due after more than one year

6

(3,753)

(5,159)

Net liabilities

 

(12,464)

(12,233)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(12,564)

(12,333)

Shareholders' deficit

 

(12,464)

(12,233)

 

Captivent Limited

(Registration number: 05752148)
Balance Sheet
31 March 2023

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge 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 Board on 8 November 2023 and signed on its behalf by:
 



C P Jackson
Director

 

Captivent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

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:
Butley Ash Studio
North Road
Bath
Somerset
BA2 6HB

These financial statements were authorised for issue by the Board on 8 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 value added tax.

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.

 

Captivent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipmment

25% per annum straight line

Computer equipment

33% per annum straight line

Event equipment

25% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Captivent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Captivent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

4

Tangible assets

Computer equipment
£

Event equipment
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

1,106

1,533

1,947

4,586

Additions

390

-

-

390

Disposals

(523)

-

-

(523)

At 31 March 2023

973

1,533

1,947

4,453

Depreciation

At 1 April 2022

627

1,492

1,752

3,871

Charge for the year

403

40

195

638

Eliminated on disposal

(523)

-

-

(523)

At 31 March 2023

507

1,532

1,947

3,986

Carrying amount

At 31 March 2023

466

1

-

467

At 31 March 2022

478

41

195

714

5

Debtors

2023
£

2022
£

Trade debtors

2,906

-

Other debtors

-

161

2,906

161

 

Captivent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

1,560

1,888

Trade creditors

 

89

228

Taxation and social security

 

297

-

Other creditors

 

10,303

5,869

 

12,249

7,985

Due after one year

 

Loans and borrowings

7

3,753

5,159

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

3,753

5,159

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

3,753

5,159

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,560

1,704

Hire purchase contracts

-

184

1,560

1,888