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REGISTERED NUMBER: 09973978 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CAPFIELD UK LIMITED

CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

CAPFIELD UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D G Summerfield
J Summerfield





REGISTERED OFFICE: Ashley Moor Hall
Orleton
Ludlow
Shropshire
SY8 4JJ





REGISTERED NUMBER: 09973978 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,485,950 1,485,950
Investments 6 909,283 2,808,966
2,395,233 4,294,916

CURRENT ASSETS
Debtors 7 85,721 13,483,453
Cash at bank 588,485 3,233,574
674,206 16,717,027
CREDITORS
Amounts falling due within one year 8 153,871 156,795
NET CURRENT ASSETS 520,335 16,560,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,915,568

20,855,148

CREDITORS
Amounts falling due after more than one
year

9

2,962,634

3,928,003
NET (LIABILITIES)/ASSETS (47,066 ) 16,927,145

CAPITAL AND RESERVES
Called up share capital 100 16,081,487
Retained earnings (47,166 ) 845,658
(47,066 ) 16,927,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





D G Summerfield - Director


CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Capfield UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention except that as disclosed in the accounting policies certain items are shown at their fair value.

The accounts are for the individual entity only.

The financial statements are presented in sterling (£), rounded to the nearest £1.

Significant judgements and estimates
The significant judgements and sources of key accounting estimates that have been applied in the preparation of these financial statements are set out below. These have been deemed appropriate and consistently applied to all the years presented.

Judgements
Provision against monies due to the company is considered at the end of each financial period.

Rental income
Rental income is included net of VAT, this income is accounted for on an accruals basis.

Foreign income and costs policy
Loan interest receivable is recognised using the simple interest rate method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.3% on cost

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

Taxation
Taxation for the year 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.


CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
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.

Contribution to defined contribution plans are recognised as employee benefit expenses when they are due, If contribution payments exceed the contribution due from service, the excess is recognised as a prepayment.

Investments
Investments in listed shares are shown in the balance sheet at market value. Realised and unrealised investment gains and losses are recognised in the profit and loss account in the period in which they occur.

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.

Financial instruments
Recognition and measurement
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method.

Effective interest rate method
This is the rate that discounts estimated future cash receipts (including all fees that form an integral part of the effective interest rate, transaction costs or other premiums or discounts) through the expected life of the instrument, or (where appropriate) a shorter period, to the net carrying amount of initial recognition.
Impairment
At the end of each financial period, financial assets are assessed for objective measurement of impairment and any impairment loss is recognised in the profit and loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,485,950 950 1,486,900
Disposals - (950 ) (950 )
At 31 December 2023 1,485,950 - 1,485,950
DEPRECIATION
At 1 January 2023 - 950 950
Eliminated on disposal - (950 ) (950 )
At 31 December 2023 - - -
NET BOOK VALUE
At 31 December 2023 1,485,950 - 1,485,950
At 31 December 2022 1,485,950 - 1,485,950

6. FIXED ASSET INVESTMENTS

31.12.23 31.12.22
£    £   
Other investments not loans 909,283 2,808,966

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1 January 2023 709,873
Additions 2,302,424
Disposals (2,022,978 )
Revaluations (80,036 )
At 31 December 2023 909,283
NET BOOK VALUE
At 31 December 2023 909,283
At 31 December 2022 709,873

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 (80,036 )
Cost 989,319
909,283

CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£    £   
Cost brought forward 2,099,093 2,454,693
Additions 104,499 -
Disposals (2,099,093 ) -
Repayments (104,499 ) (355,600 )
- 2,099,093

7. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 53,255 5,549,493
Other debtors 21 21,000
Prepayments and accrued income 32,445 107,346
85,721 5,677,839

Amounts falling due after more than one year:
Trade debtors - 7,286,728
Prepayments and accrued income - 518,886
- 7,805,614

Aggregate amounts 85,721 13,483,453

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 5,157 1,685
Tax 505 13,532
Social security and other taxes 25,195 23,586
Other creditors 52,894 34,365
Amounts owed to group 600 -
Directors' current accounts - 3,672
Accruals and deferred income 69,520 79,955
153,871 156,795

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other loans - 2-5 years 2,962,634 3,912,300
Other creditors - 15,703
2,962,634 3,928,003

CAPFIELD UK LIMITED (REGISTERED NUMBER: 09973978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the director £Nil (2022: £3,672). No interest is being charged on this balance.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is James Summerfield by virtue of his 100% shareholding in Yamell Ltd.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CAPFIELD UK LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Capfield UK Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Capfield UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Capfield UK Limited and state those matters that we have agreed to state to the Board of Directors of Capfield UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Capfield UK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Capfield UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Capfield UK Limited. You consider that Capfield UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Capfield UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG


31 July 2024