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COMPANY REGISTRATION NUMBER: 11668612
Musgrave Capital Partners Limited
Filleted Unaudited Financial Statements
31 December 2023
Musgrave Capital Partners Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Musgrave Capital Partners Limited
Officers and Professional Advisers
The board of directors
L Hechter
D H Hoff
M T Norwood-Young
Registered office
727-729 High Road
London
England
UK
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Musgrave Capital Partners Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Musgrave Capital Partners Limited
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Musgrave Capital Partners Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
31,087
31,087
Current assets
Debtors
6
142,535
190,326
Investments
7
202,013
Cash at bank and in hand
28,835
305,843
---------
---------
373,383
496,169
Creditors: amounts falling due within one year
8
( 33,032)
( 59,784)
---------
---------
Net current assets
340,351
436,385
---------
---------
Total assets less current liabilities
371,438
467,472
---------
---------
Net assets
371,438
467,472
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
371,437
467,471
---------
---------
Shareholders funds
371,438
467,472
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Musgrave Capital Partners Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
L Hechter
Director
Company registration number: 11668612
Musgrave Capital Partners Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, England, N12 0BP, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Foreign currencies
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 date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
31,087
--------
Impairment
At 1 January 2023 and 31 December 2023
--------
Carrying amount
At 31 December 2023
31,087
--------
At 31 December 2022
31,087
--------
The above represents a 100% investment into Musgrave Capital Partners SA (Pty) Limited, an entity incorporated in South Africa.
6. Debtors
2023
2022
£
£
Trade debtors
25,779
34,685
Amounts owed by group undertakings and undertakings in which the company has a participating interest
21,461
Other debtors
95,295
155,641
---------
---------
142,535
190,326
---------
---------
7. Investments
2023
2022
£
£
Other investments
202,013
---------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,187
14,750
Corporation tax
29,278
Social security and other taxes
10,254
10,218
Other creditors
14,591
5,538
--------
--------
33,032
59,784
--------
--------