Capital Mortgage UK Limited
Registered number: SC489477
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,570 29,570
Current assets
Debtors 4 75,065 75,065
Cash at bank and in hand 29,558 58,980
104,623 134,045
Creditors: amounts falling due within one year 5 (26,287) (30,473)
Net current assets 78,336 103,572
Total assets less current liabilities 107,906 133,142
Creditors: amounts falling due after more than one year 6 (20,109) (47,245)
Net assets 87,797 85,897
Capital and reserves
Called up share capital 1 1
Profit and loss account 87,796 85,896
Shareholders' funds 87,797 85,897
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Higgins
Director
Approved by the board on 2 August 2024
Capital Mortgage UK Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023 29,570
At 31 March 2024 29,570
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 29,570
At 31 March 2023 29,570
4 Debtors 2024 2023
£ £
Other debtors 75,065 75,065
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 2,788 4,578
Other creditors 23,499 25,895
26,287 30,473
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 321 22,801
Obligations under finance lease and hire purchase contracts 19,788 24,444
20,109 47,245
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