Company Registration No. 09970535 (England and Wales)
Clavis Capital Ltd
Unaudited accounts
for the year ended 31 January 2024
Clavis Capital Ltd
Unaudited accounts
Contents
Clavis Capital Ltd
Company Information
for the year ended 31 January 2024
Company Number
09970535 (England and Wales)
Registered Office
Suite 6, Floor 2
Congress House, 14 Lyon Road
Harrow
HA1 2EN
England
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Clavis Capital Ltd
Statement of financial position
as at 31 January 2024
Cash at bank and in hand
4,629
2,323
Creditors: amounts falling due within one year
(37,494)
(31,275)
Net current assets
2,384
7,763
Called up share capital
100
100
Profit and loss account
2,973
8,105
Shareholders' funds
3,073
8,205
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 October 2024 and were signed on its behalf by
S Martin
Director
Company Registration No. 09970535
Clavis Capital Ltd
Notes to the Accounts
for the year ended 31 January 2024
Clavis Capital Ltd is a private company, limited by shares, registered in England and Wales, registration number 09970535. The registered office is Suite 6, Floor 2 , Congress House, 14 Lyon Road, Harrow, HA1 2EN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
Revenue is recognised to the extent that 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.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Clavis Capital Ltd
Notes to the Accounts
for the year ended 31 January 2024
Defined contribution pension plan
The company operates a defined contribution plan for the director. A defined contribution plan is a pension plan under which the company pays fixed contributions in to a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The Tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 operated and generates income.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arises from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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 is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits;
- 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 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 balances sheet date.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Clavis Capital Ltd
Notes to the Accounts
for the year ended 31 January 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance Method
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Other debtors
35,249
36,715
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
35,694
26,788
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
As at 31 January 2024, the director had an overdrawn directors loan account of £25,062 ( 2023 - £26,528), Interest of £730 (2023 - £520) was charged on the overdrawn amount, at the rate of 3% ( 2023 - 2%) per annum.
During the year under review, the company was under the control of S Martin by virtue of his 100% shareholding in the company.
Clavis Capital Ltd
Notes to the Accounts
for the year ended 31 January 2024
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).