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Company No: 11804305 (England and Wales)

CAPINVEST (FINANCE) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

CAPINVEST (FINANCE) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CAPINVEST (FINANCE) LIMITED

BALANCE SHEET

As at 30 April 2024
CAPINVEST (FINANCE) LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 113,764 69,684
Investments 4 5,012 5,012
118,776 74,696
Current assets
Debtors
- due within one year 5 843,312 83,605
- due after more than one year 5 0 110,336
Cash at bank and in hand 417,331 684,817
1,260,643 878,758
Creditors: amounts falling due within one year 6 ( 303,773) ( 119,374)
Net current assets 956,870 759,384
Total assets less current liabilities 1,075,646 834,080
Creditors: amounts falling due after more than one year 7 ( 102,035) ( 75,436)
Provision for liabilities 14,860 11,945
Net assets 988,471 770,589
Capital and reserves
Called-up share capital 8 1,000 1,000
Revaluation reserve ( 10,000 ) ( 10,000 )
Profit and loss account 997,471 779,589
Total shareholders' funds 988,471 770,589

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CapInvest (Finance) Limited (registered number: 11804305) were approved and authorised for issue by the Board of Directors on 29 July 2024. They were signed on its behalf by:

Mr A E Tutte
Director
CAPINVEST (FINANCE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CAPINVEST (FINANCE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CapInvest (Finance) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chatsworth House, Gannel Road, Newquay, TR7 2AG, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2023 13,219 95,495 2,632 6,582 117,928
Additions 0 340,195 0 3,017 343,212
Disposals 0 ( 327,595) 0 ( 4,095) ( 331,690)
At 30 April 2024 13,219 108,095 2,632 5,504 129,450
Accumulated depreciation
At 01 May 2023 0 41,779 1,270 5,195 48,244
Charge for the financial year 0 33,207 273 842 34,322
Disposals 0 ( 62,785) 0 ( 4,095) ( 66,880)
At 30 April 2024 0 12,201 1,543 1,942 15,686
Net book value
At 30 April 2024 13,219 95,894 1,089 3,562 113,764
At 30 April 2023 13,219 53,716 1,362 1,387 69,684

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 5,012 5,012
At 30 April 2024 5,012 5,012
Carrying value at 30 April 2024 5,012 5,012
Carrying value at 30 April 2023 5,012 5,012

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 820,609 60,651
Amounts owed by related parties 0 16,471
Other debtors 22,703 6,483
843,312 83,605
Debtors: amounts falling due after more than one year
Trade debtors 0 110,336

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,179 9,926
Trade creditors 434 425
Taxation and social security 77,946 85,185
Obligations under finance leases and hire purchase contracts 16,447 10,604
Other creditors 198,767 13,234
303,773 119,374

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,041 23,210
Obligations under finance leases and hire purchase contracts (secured) 88,994 52,226
102,035 75,436

The hire purchase contracts are secured on the vehicles on which the finance relates

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
900 Ordinary A shares of £ 1.00 each 900 900
100 Ordinary B shares of £ 1.00 each 100 100
1,000 1,000