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COMPANY REGISTRATION NUMBER: 12941817
Anchor Capital Holdings (UK) Limited
Filleted Unaudited Financial Statements
31 December 2023
Anchor Capital Holdings (UK) 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
Anchor Capital Holdings (UK) Limited
Officers and Professional Advisers
The board of directors
D G Te Brake
O Z Khan
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Anchor Capital Holdings (UK) Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Anchor Capital Holdings (UK) 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
Anchor Capital Holdings (UK) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
200,075
75
Current assets
Debtors
6
162,569
103,001
Cash at bank and in hand
3,239
5,125
---------
---------
165,808
108,126
Creditors: amounts falling due within one year
7
( 383,081)
( 112,969)
---------
---------
Net current liabilities
( 217,273)
( 4,843)
---------
-------
Total assets less current liabilities
( 17,198)
( 4,768)
--------
-------
Net liabilities
( 17,198)
( 4,768)
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 17,199)
( 4,769)
--------
-------
Shareholders deficit
( 17,198)
( 4,768)
--------
-------
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 .
Anchor Capital Holdings (UK) Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
D G Te Brake
Director
Company registration number: 12941817
Anchor Capital Holdings (UK) 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, N12 0BP.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Going concern
At 31 December 2023, the balance sheet showed net current liabilities of £217,273 (2022: £4,843), and net liabilities of £17,198 (2022: £4,768). The ultimate parent company has given an undertaking to financially support the company for at least 12 months from the date of the signature on the Balance Sheet. The situation will be reviewed after this time. On this basis, the director considers it appropriate to prepare the financial statements on the going concern 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.
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.
4. Employee numbers
The average number of persons employed by the company during the period amounted to nil.
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023
75
Additions
200,000
---------
At 31 December 2023
200,075
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
200,075
---------
At 31 December 2022
75
---------
The above amount represents a 75% holding in Anchor Private Clients (UK) Limited and 100% investment in Anchor Capital Asset Management (UK) Limited.
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
162,569
103,001
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,100
Amounts owed to group undertakings and undertakings in which the company has a participating interest
380,884
106,512
Other creditors
97
6,457
---------
---------
383,081
112,969
---------
---------
8. Controlling party
The immediate and ultimate parent company is Anchor Group (Pty) Limited, an entity incorporated in South Africa .