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Company No: 12770471 (England and Wales)

ELVAN CAPITAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ELVAN CAPITAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ELVAN CAPITAL LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
ELVAN CAPITAL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS B R Sautelle-Smith
H A Sautelle-Smith
REGISTERED OFFICE C/O Francis Clarke Llp Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 12770471 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
ELVAN CAPITAL LIMITED

BALANCE SHEET

As at 31 December 2023
ELVAN CAPITAL LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 140,666 222,039
140,666 222,039
Creditors: amounts falling due within one year 4 ( 510) ( 462)
Net current liabilities (510) (462)
Total assets less current liabilities 140,156 221,577
Creditors: amounts falling due after more than one year 5 ( 434,739) ( 434,277)
Net liabilities ( 294,583) ( 212,700)
Capital and reserves
Called-up share capital 6 240 240
Profit and loss account ( 294,823 ) ( 212,940 )
Total shareholders' deficit ( 294,583) ( 212,700)

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.

Directors' responsibilities:

The financial statements of Elvan Capital Limited (registered number: 12770471) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

B R Sautelle-Smith
Director
ELVAN CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ELVAN CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

Elvan Capital 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 C/O Francis Clark LLP Lowin House, Tregolls Road, Truro, TR1 2NA, 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 rounded to the nearest £. The functional currency of the Company is US dollars.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements due to the continued support of the directors who are owed £434,739 by the company at the year end. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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. Other investments are measured at cost less impairment.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 222,039 222,039
Movement in fair value ( 74,013) ( 74,013)
Foreign exchange movement ( 7,360) ( 7,360)
At 31 December 2023 140,666 140,666
Carrying value at 31 December 2023 140,666 140,666
Carrying value at 31 December 2022 222,039 222,039

4. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 510 462

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

2023 2022
£ £
Other creditors 434,739 434,277

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
240 Ordinary shares of £ 1.00 each 240 240

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Balance owing to the director at the year end 434,739 434,277