Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01falseNo description of principal activity11truetrue 11004981 2022-11-01 2023-10-31 11004981 2021-11-01 2022-10-31 11004981 2023-10-31 11004981 2022-10-31 11004981 c:Director1 2022-11-01 2023-10-31 11004981 d:ComputerEquipment 2022-11-01 2023-10-31 11004981 d:ComputerEquipment 2023-10-31 11004981 d:ComputerEquipment 2022-10-31 11004981 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11004981 d:CurrentFinancialInstruments 2023-10-31 11004981 d:CurrentFinancialInstruments 2022-10-31 11004981 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11004981 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11004981 d:ShareCapital 2023-10-31 11004981 d:ShareCapital 2022-10-31 11004981 d:RetainedEarningsAccumulatedLosses 2023-10-31 11004981 d:RetainedEarningsAccumulatedLosses 2022-10-31 11004981 c:FRS102 2022-11-01 2023-10-31 11004981 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11004981 c:FullAccounts 2022-11-01 2023-10-31 11004981 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11004981 2 2022-11-01 2023-10-31 11004981 6 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 11004981









CAPITAL LIFE INVESTMENT CO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
CAPITAL LIFE INVESTMENT CO LTD
REGISTERED NUMBER: 11004981

BALANCE SHEET
AS AT 31 OCTOBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
425
744

Investments
 5 
634,742
392,187

  
635,167
392,931

Current assets
  

Stocks
  
71,547
40,769

Debtors: amounts falling due within one year
 6 
66,942
66,940

Cash at bank and in hand
 7 
250,468
1,059,653

  
388,957
1,167,362

Creditors: amounts falling due within one year
 8 
(1,169,326)
(1,497,072)

Net current liabilities
  
 
 
(780,369)
 
 
(329,710)

Total assets less current liabilities
  
(145,202)
63,221

  

Net (liabilities)/assets
  
(145,202)
63,221


Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
(145,303)
63,120

  
(145,202)
63,221


Page 1

 
CAPITAL LIFE INVESTMENT CO LTD
REGISTERED NUMBER: 11004981
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with 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 by: 




T  R Coulton
Director

Date: 24 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CAPITAL LIFE INVESTMENT CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Capital Life Investment Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 101 New Cavendish Street, London, W1W 6XH.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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 GBP.

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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CAPITAL LIFE INVESTMENT CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 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:

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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.

Page 4

 
CAPITAL LIFE INVESTMENT CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
on a straight-line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
CAPITAL LIFE INVESTMENT CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
CAPITAL LIFE INVESTMENT CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 November 2022
1,275



At 31 October 2023

1,275



Depreciation


At 1 November 2022
531


Charge for the year on owned assets
319



At 31 October 2023

850



Net book value



At 31 October 2023
425



At 31 October 2022
744


5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 November 2022
(199,906)
592,093
392,187


Additions
1,832,951
23,500
1,856,451


Disposals
(1,404,685)
(54,967)
(1,459,652)


Revaluations
-
(154,244)
(154,244)



At 31 October 2023
228,360
406,382
634,742




Page 7

 
CAPITAL LIFE INVESTMENT CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

As restated
2023
2022
£
£


Other debtors
66,942
66,940

66,942
66,940



7.


Cash and cash equivalents

As restated
2023
2022
£
£

Cash at bank and in hand
250,468
1,059,653

250,468
1,059,653



8.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Other creditors
1,167,416
1,493,663

Accruals and deferred income
1,910
3,409

1,169,326
1,497,072



9.


Related party transactions

At the balance sheet date, the company owed £1,167,416 (2022: £1,493,663) to the director.

 
Page 8