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Registration number: 05691636

Industrial Investors Capital Management Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Industrial Investors Capital Management Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

Industrial Investors Capital Management Limited

Company Information

Director

J M McDonald

Registered office

33 St James's Square
London
SW1Y 4JS

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Industrial Investors Capital Management Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

693

4,160

Current assets

 

Debtors

5

42,114

702,614

Cash at bank and in hand

 

52,134

53,060

 

94,248

755,674

Creditors: Amounts falling due within one year

6

(67,401)

(69,340)

Net current assets

 

26,847

686,334

Net assets

 

27,540

690,494

Capital and reserves

 

Called up share capital

7

2

2

Share premium reserve

-

274,892

Profit and loss account

27,538

415,600

Shareholders' funds

 

27,540

690,494

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.

Director's 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 director acknowledges his 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 15 August 2024

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

J M McDonald

Director


Company registration number: 05691636

 

Industrial Investors Capital Management Limited

Notes to the 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 and Wales.

The address of its registered office is:
33 St James's Square
London
SW1Y 4JS

The principal activity of the company during the year was the provision of administrative and management services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 December 2023 and had net assets at the date of £27,540, including cash at bank of £52,134.

The director has considered the current economic conditions and his view is that they will have minimal effect on the company’s trade. The company has an ongoing contract and the director has no reason to believe this arrangement will change in the foreseeable future. Further, with the resources that the company has, the director believes that the company will be able to meet its working capital requirements as they fall due.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of consultancy services. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover is recognised in the period to which the services provided relate.

 

Industrial Investors Capital Management Limited

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

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting rate, with any gains or losses being taken to the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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 calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Straight line

Computer equipment

33% Straight line

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Industrial Investors Capital Management Limited

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

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2022 - 2).

4

Tangible assets

Equipment
 £

Total
£

Cost

At 1 January 2023

30,933

30,933

Disposals

(916)

(916)

At 31 December 2023

30,017

30,017

Depreciation

At 1 January 2023

26,773

26,773

Charge for the year

3,467

3,467

Eliminated on disposal

(916)

(916)

At 31 December 2023

29,324

29,324

Carrying amount

At 31 December 2023

693

693

At 31 December 2022

4,160

4,160

5

Debtors

2023
£

2022
£

Trade debtors

2,910

-

Other debtors

39,204

702,614

42,114

702,614

 

Industrial Investors Capital Management Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

391

795

Taxation and social security

21,285

21,118

Other creditors

45,725

47,427

67,401

69,340

7

Share capital

During the year ended 31 December 2023, the company reduced capital by cancelling the share premium reserve and releasing this to the profit and loss account.

8

Dividends

During the year ended 31 December 2023, dividends in specie totalling £688,419 were declared and paid.