Registered number
01417959
Capitalrange Ltd
Filleted Accounts
31 December 2023
Capitalrange Ltd
Registered number: 01417959
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 27,748 34,473
Tangible assets 4 354,403 408,925
Investments 5 125,567 125,567
507,718 568,965
Current assets
Stocks 34,925 42,093
Debtors 6 489,129 415,700
Cash at bank and in hand 954,525 1,412,548
1,478,579 1,870,341
Creditors: amounts falling due within one year 7 (515,645) (610,173)
Net current assets 962,934 1,260,168
Total assets less current liabilities 1,470,652 1,829,133
Provisions for liabilities (82,500) (91,500)
Net assets 1,388,152 1,737,633
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,387,952 1,737,433
Shareholders' funds 1,388,152 1,737,633
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.
S N Wright
Director
Approved by the board on 10 August 2024
Capitalrange Ltd
Notes to the Accounts
for the year ended 31 December 2023
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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Franchise Agreements 10% straight line
Leasehold Property over the term of the lease
Fixtures, fittings & equipment 12.5% straight line
Motor vehicles 25% wdv
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 164 164
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 113,407
At 31 December 2023 113,407
Amortisation
At 1 January 2023 78,934
Provided during the year 6,725
At 31 December 2023 85,659
Net book value
At 31 December 2023 27,748
At 31 December 2022 34,473
Amortisation is provided @ 10%.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 635,239 1,263,858 228,733 2,127,830
At 31 December 2023 635,239 1,263,858 228,733 2,127,830
Depreciation
At 1 January 2023 565,899 991,509 161,497 1,718,905
Charge for the year 3,668 34,045 16,809 54,522
At 31 December 2023 569,567 1,025,554 178,306 1,773,427
Net book value
At 31 December 2023 65,672 238,304 50,427 354,403
At 31 December 2022 69,340 272,349 67,236 408,925
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 125,567
At 31 December 2023 125,567
6 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 450,487 377,075
Other debtors 38,642 38,625
489,129 415,700
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 241,898 294,355
Directors current account (2,358) (3,535)
Taxation and social security costs 188,242 232,023
Other creditors 87,863 87,330
515,645 610,173
8 Other information
Capitalrange Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Wesley House, 4 Charles Hankin Close, Ivybridge, Devon, PL21 5WF
9 Related Party Transactions 2023 2022
£ £
The company is ultimately under the control of its directors
The amount due from Synergy 1808 Ltd was 179,354 99,580
The amount due from Kernow Koffi Ltd was 271,133 277,495
No interest has been charged on this amount due
Directors Loan Account (2,358) (3,535)
No interest has been charged on this amount
Capitalrange Ltd 01417959 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 S N Wright No description of principal activity 01417959 2022-01-01 2022-12-31 01417959 core:WithinOneYear 2022-12-31 01417959 core:ShareCapital 2022-12-31 01417959 core:RetainedEarningsAccumulatedLosses 2022-12-31 01417959 2023-01-01 2023-12-31 01417959 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01417959 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01417959 bus:Director40 2023-01-01 2023-12-31 01417959 1 2023-01-01 2023-12-31 01417959 2 2023-01-01 2023-12-31 01417959 core:Goodwill 2023-01-01 2023-12-31 01417959 core:LandBuildings 2023-01-01 2023-12-31 01417959 core:PlantMachinery 2023-01-01 2023-12-31 01417959 core:Vehicles 2023-01-01 2023-12-31 01417959 countries:England 2023-01-01 2023-12-31 01417959 bus:FRS102 2023-01-01 2023-12-31 01417959 bus:FilletedAccounts 2023-01-01 2023-12-31 01417959 2023-12-31 01417959 core:WithinOneYear 2023-12-31 01417959 core:ShareCapital 2023-12-31 01417959 core:RetainedEarningsAccumulatedLosses 2023-12-31 01417959 core:Goodwill 2023-12-31 01417959 core:LandBuildings 2023-12-31 01417959 core:PlantMachinery 2023-12-31 01417959 core:Vehicles 2023-12-31 01417959 2022-12-31 01417959 core:Goodwill 2022-12-31 01417959 core:LandBuildings 2022-12-31 01417959 core:PlantMachinery 2022-12-31 01417959 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure