Overton Global Capital Limited
Unaudited Financial Statements
For the year ended 30 April 2024
Pages for Filing with Registrar
Company Registration No. 08489883 (England and Wales)
Overton Global Capital Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Overton Global Capital Limited
Balance Sheet
As at 30 April 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
-
0
11,203
Cash at bank and in hand
2,371
33,065
2,371
44,268
Creditors: amounts falling due within one year
5
(14,847)
(42,511)
Net current (liabilities)/assets
(12,476)
1,757
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(12,576)
1,657
Total equity
(12,476)
1,757

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 26 August 2024 and are signed on its behalf by:
A Fraser
Director
Company Registration No. 08489883
Overton Global Capital Limited
Notes to the Financial Statements
For the year ended 30 April 2024
Page 2
1
Accounting policies
Company information

Overton Global Capital Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for consultancy services net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Overton Global Capital Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
Page 3
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023: 2)

Overton Global Capital Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
7,579
Depreciation and impairment
At 1 May 2023 and 30 April 2024
7,579
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
3,180
Corporation tax recoverable
-
0
4,027
Other debtors
-
3,996
-
11,203
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,676
3,272
Corporation tax
9,464
9,468
Other taxation and social security
457
1,671
Accruals and deferred income
3,250
28,100
14,847
42,511
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
Overton Global Capital Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 5
7
Controlling party

The ultimate controlling party is A Fraser by virtue of her majority holding of the issued share capital.

8
Directors' transactions

Included within debtors is an amount due from a director amounting to £nil (2023: £3,996). Interest has been charged on the overdrawn loan account during the year amounting to £347 (2023: £1,802). A dividend of £53,471 (2023: £29,050) has been paid in the year.

9
Dividends paid

As a result of dividends paid in the year, the distributable reserve is now in a deficit. The directors are aware and undertake to make no further distributions until reserves are available.

 

At the time of declaring a dividend, there were sufficient reserves available and profits have been made post year end to restore the distributable reserves and support the dividend paid.

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