Company registration number 13205132 (England and Wales)
NUMA CAPITAL HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
NUMA CAPITAL HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
NUMA CAPITAL HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Investments
3
11,255,139
11,050,487
Current assets
Trade and other receivables
4
200
200
Current liabilities
5
(11,000,000)
(11,000,000)
Net current liabilities
(10,999,800)
(10,999,800)
Net assets
255,339
50,687
Equity
Called up share capital
6
200
200
Retained earnings
255,139
50,487
Total equity
255,339
50,687
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 November 2023 and are signed on its behalf by:
S M Leighton
Director
Company Registration No. 13205132
NUMA CAPITAL HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
Share capital
Merger relief reserve
Retained earnings
Total
Notes
£
£
£
£
Balance at 16 February 2021
-
-
Period ended 28 February 2022:
Profit and total comprehensive income for the period
-
-
50,487
50,487
Issue of share capital
400
-
-
400
On group restructuring
-
10,999,800
10,999,800
Bonus issue of share capital
10,999,800
(10,999,800)
-
Cancellation of share capital
(11,000,000)
-
11,000,000
-
Dividend paid
-
-
(11,000,000)
(11,000,000)
Balance at 28 February 2022
200
-
50,487
50,687
Year ended 28 February 2023:
Profit and total comprehensive income for the year
-
-
204,652
204,652
Balance at 28 February 2023
200
-
255,139
255,339
NUMA CAPITAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information
Numa Capital Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 St George Street, London, W1S 2FH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, except for investments in subsidiaries (see note 1.3). The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
At 28 February 202true3 the company had net current liabilities amounting to £10,999,800. The parent company, ELA Investment Holdings Limited, has undertaken to provide such financial support as is required to ensure that the company is able to meet its working capital requirements for the foreseeable future. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Non-current investments
Interests in subsidiaries are measured at fair value with gains and losses passing through profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
NUMA CAPITAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include trade and other receivables are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through the statement of income, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the statement of income.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the statement of income.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
NUMA CAPITAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
11,255,139
11,050,487
Movements in non-current investments
Shares in subsidiaries
£
Cost or valuation
At 1 March 2022
11,050,487
Valuation changes
204,652
At 28 February 2023
11,255,139
Carrying amount
At 28 February 2023
11,255,139
At 28 February 2022
11,050,487
4
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Other receivables
200
200
5
Current liabilities
2023
2022
£
£
Amounts owed to group undertakings
11,000,000
Other payables
11,000,000
11,000,000
11,000,000
NUMA CAPITAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
200 Ordinary shares of £1 each
200
200
200
200
7
Retained earnings
Non-
Distributable
distributable
retained
retained
Total retained
earnings
earnings
earnings
£
£
£
Balance at 1 March 2022
-
50,487
50,487
Profit and total comprehensive income for the year
204,652
-
204,652
Fair value movement on interests in investments
(204,652)
204,652
-
Balance at 28 February 2023
-
255,139
255,139
8
Related party transactions
The company has taken advantage of the exemption available in accordance with Section 33.1A of Financial Reporting Standard 102 whereby it has not disclosed transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.
At the reporting date, £nil (2022: £11,000,000) was due to a E Shahmoon, a director of the company. The loan is interest free and repayable on demand.