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Registration number: 13121393

Captiva Currency Management Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Captiva Currency Management Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Captiva Currency Management Limited

Company Information

Directors

J Craig

T J Craig

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

 

Captiva Currency Management Limited

Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

33,612

47,151

Cash at bank and in hand

 

42

616

 

33,654

47,767

Creditors: Amounts falling due within one year

5

(16,538)

(18,192)

Net assets

 

17,116

29,575

Capital and reserves

 

Called up share capital

100

100

Retained earnings

17,016

29,475

Shareholders' funds

 

17,116

29,575

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................

T J Craig

Director

Company registration number: 13121393

 

Captiva Currency Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is foreign exchange brokerage

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of foreign exchange services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Captiva Currency Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023 - 1).

4

Debtors

2024
£

2023
£

Other debtors

33,612

47,151

33,612

47,151

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

6,414

8,068

Accruals and deferred income

10,124

10,124

16,538

18,192

6

Dividends

 

2024

2023

 

£

£

Final dividend of £Nil (2023 - £001) per ordinary share

-

-

Interim dividend of £Nil (2023 - £003) per ordinary share

38,000

5,000

 

38,000

5,000

 

Captiva Currency Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Related party transactions

Transactions with directors

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

10,000

10,000

At 31 January 2022 an amount of £4,396 was due from a director. During the period advances of £20,800 and repayments of £16,404 have been made. The loan is non interest bearing and there are no set repayment terms in place. A dividend was declared post period end to repay the balance in full.