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Registered number: 09577074









ECAP SERVICES LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ECAP SERVICES LIMITED
 
 
COMPANY INFORMATION


Director
Dr. Albrecht Frischenschlager (appointed 6 May 2015)




Registered number
09577074



Registered office
Suite 177
 8, Shepherd Market, London

London

W1J 7JY




Trading Address
Suite 177

 8, Shepherd Market, London







 
ECAP SERVICES LIMITED
 

CONTENTS



Page
Director's Report
Balance Sheet
1
Notes to the Financial Statements
2 - 5

Principal activity

The principal activity of the company continued to be that of managing the assets. 

Director

The director who served during the year was:

Dr. Albrecht Frischenschlager (appointed 6 May 2015)

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 12 September 2024 and signed on its behalf.
 





Dr. Albrecht Frischenschlager
Director


 
ECAP SERVICES LIMITED
REGISTERED NUMBER: 09577074

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
KZT
KZT

  

Current assets
 4,5 
3,424,522
71,797,976

Creditors: amounts falling due within one year
 6 
(25,329,960)
-

Net current (liabilities)/assets
  
 
 
(21,905,438)
 
 
71,797,976

Total assets less current liabilities
  
(21,905,438)
71,797,976

Creditors: amounts falling due after more than one year
  
-
(84,326,152)

  

Net liabilities
  
(21,905,438)
(12,528,176)


  

Capital and reserves
  
(21,905,438)
(12,528,176)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 September 2024.




Dr. Albrecht Frischenschlager
Director

Page 1

 
ECAP SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares. It is incorporated in England and Wales. Its
registered office address and principal place of business is Suite 177, 8 Shepherd Market, London W1J
7JY. The principal activities of the entity is the Asset Management Services. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is KZT.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
ECAP SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

The entity has no recognisable turnover during the accounting period. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
ECAP SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Average Number of Employees
1
15


4.


Debtors

2023
2022
KZT
KZT

Due after more than one year

Other debtors
5,209
3,352,349

5,209
3,352,349


2023
2022
KZT
KZT

Due within one year

Other debtors
-
1,852,272
Page 4

 
ECAP SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.Debtors (continued)


-
1,852,272



5.


Cash and cash equivalents

2023
2022
KZT
KZT

Cash at bank and in hand
3,419,313
66,593,355

3,419,313
66,593,355



6.


Creditors: Amounts falling due within one year

2023
2022
KZT
KZT

Other creditors
25,329,960
-

25,329,960
-


 
Page 5