REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
FOR |
UNLIMITED CAPITAL LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
FOR |
UNLIMITED CAPITAL LTD |
UNLIMITED CAPITAL LTD (REGISTERED NUMBER: 14267259) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
UNLIMITED CAPITAL LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
UNLIMITED CAPITAL LTD (REGISTERED NUMBER: 14267259) |
BALANCE SHEET |
31 AUGUST 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings | 7 | ( |
) |
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 |
UNLIMITED CAPITAL LTD (REGISTERED NUMBER: 14267259) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Unlimited Capital Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
UNLIMITED CAPITAL LTD (REGISTERED NUMBER: 14267259) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
Provision |
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis. |
Going concern |
There are no material uncertainties that may cast significant doubt about the company’s ability to continue as a going concern. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
At 31 August 2023 |
DEPRECIATION |
Charge for period |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations | 475,822 |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
Fair value at 31 August 2023 is represented by: |
£ |
Valuation in 2023 | 475,823 |
The investment properties are included at the director's estimate of fair market value at 31 August 2023. |
UNLIMITED CAPITAL LTD (REGISTERED NUMBER: 14267259) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2022 TO 31 AUGUST 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Corporation Tax |
Other creditors |
Directors' current accounts | 264,680 |
Accruals and deferred income |
7. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
Profit for the period |
Revaluation of investment property |
(475,822 |
) |
475,822 |
- |
At 31 August 2023 | ( |
) | 286,580 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 August 2023: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period | ( |
) |
No interest is being charged on the loan account and there are no set repayment terms. |
9. | RELATED PARTY DISCLOSURES |
The company was a member of a group that included Unlimited Holdings Limited and Prime Design Limited. On 29 September 2022 Unlimited Capital Limited acquired the assets and liabilities of Unlimited Holdings Limited and Prime Developments Limited for £1. Unlimited Holdings Limited and Prime Design Limited have since been dissolved. Amounts owed to Unlimited Capital Limited by its former group members (created due to the liabilities taken on by Unlimited Capital Limited) have been written off and are included as exceptional items within the income statement. |
10. | COMPARATIVE FIGURES |
There are no comparative figures in these financial statements as this is the company's first period of trade. |