Bluecap Resources Limited 12937597 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of mineral processing Digita Accounts Production Advanced 6.30.9574.0 true 12937597 2023-01-01 2023-12-31 12937597 2023-12-31 12937597 bus:OrdinaryShareClass1 2023-12-31 12937597 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-12-31 12937597 core:CurrentFinancialInstruments 2023-12-31 12937597 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12937597 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 12937597 core:FurnitureFittingsToolsEquipment 2023-12-31 12937597 core:OtherPropertyPlantEquipment 2023-12-31 12937597 bus:SmallEntities 2023-01-01 2023-12-31 12937597 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12937597 bus:AbridgedAccounts 2023-01-01 2023-12-31 12937597 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12937597 bus:RegisteredOffice 2023-01-01 2023-12-31 12937597 bus:Director1 2023-01-01 2023-12-31 12937597 bus:Director2 2023-01-01 2023-12-31 12937597 bus:Director3 2023-01-01 2023-12-31 12937597 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12937597 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12937597 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 12937597 core:OfficeEquipment 2023-01-01 2023-12-31 12937597 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12937597 core:PlantMachinery 2023-01-01 2023-12-31 12937597 countries:AllCountries 2023-01-01 2023-12-31 12937597 2022-01-01 2022-12-31 12937597 2022-12-31 12937597 bus:OrdinaryShareClass1 2022-12-31 12937597 core:CurrentFinancialInstruments 2022-12-31 12937597 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12937597 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12937597

Bluecap Resources Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Bluecap Resources Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Bluecap Resources Limited

Company Information

Directors

Mr Robert Paul Cherry

Mr Nicholas Kenneth Harold John

Mr Nigel Kirk Adams

Registered office

Goldfields House
18A Gold Tops
Newport
NP20 4PH

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Bluecap Resources Limited

(Registration number: 12937597)
Abridged Balance Sheet as at 31 December 2023

Note

2023
$

2022
$

Fixed assets

 

Tangible assets

4

16,792

-

Other financial assets

5

200,000

200,000

 

216,792

200,000

Current assets

 

Debtors

746,824

406,375

Cash at bank and in hand

 

369,474

551,705

 

1,116,298

958,080

Prepayments and accrued income

 

12,635

3,082

Creditors: Amounts falling due within one year

(30,690)

(51,809)

Net current assets

 

1,098,243

909,353

Total assets less current liabilities

 

1,315,035

1,109,353

Creditors: Amounts falling due after more than one year

(547,000)

-

Accruals and deferred income

 

(6,867)

(6,829)

Net assets

 

761,168

1,102,524

Capital and reserves

 

Called up share capital

6

44,787

36,773

Share premium reserve

2,384,676

1,920,455

Retained earnings

(1,668,295)

(854,704)

Shareholders' funds

 

761,168

1,102,524

 

Bluecap Resources Limited

(Registration number: 12937597)
Abridged Balance Sheet as at 31 December 2023

For the financial year ending 31 December 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

.........................................

Mr Nicholas Kenneth Harold John
Director

 

Bluecap Resources Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Goldfields House
18A Gold Tops
Newport
NP20 4PH

These financial statements were authorised for issue by the Board on 19 April 2024.

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 abridged 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 abridged 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, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Bluecap Resources Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Plant and machinery

20% straight line

Office equipment

33.33% 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.

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.

 

Bluecap Resources Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 3).

 

Bluecap Resources Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Office Equipment
 $

Plant and machinery
$

Total
$

Cost or valuation

Additions

4,022

15,021

19,043

At 31 December 2023

4,022

15,021

19,043

Depreciation

Charge for the year

477

1,774

2,251

At 31 December 2023

477

1,774

2,251

Carrying amount

At 31 December 2023

3,545

13,247

16,792

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
$

Total
$

Non-current financial assets

Cost or valuation

At 1 January 2023

200,000

200,000

At 31 December 2023

200,000

200,000

Impairment

Carrying amount

At 31 December 2023

200,000

200,000

 

Bluecap Resources Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

$

No.

$

Ordinary of $0.012 each

3,732,255

44,787

3,064,437

36,773

         

New shares allotted

During the year 705,141 Ordinary having an aggregate nominal value of $8,014 were allotted for an aggregate consideration of $8,014.