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Registered number: 11114486


Draft for Approval







ARMITAGE CAPITAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
Draft for Approval
ARMITAGE CAPITAL LIMITED
REGISTERED NUMBER: 11114486

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,207
33,757

Investments
  
645,413
857,375

  
663,620
891,132

Current assets
  

Debtors due within one year
 5 
719,167
1,634,572

Cash at bank and in hand
 6 
1,079,210
731,845

  
1,798,377
2,366,417

Creditors due within one year
 7 
(1,224,776)
(2,034,634)

Net current assets
  
 
 
573,601
 
 
331,783

Total assets less current liabilities
  
1,237,221
1,222,915

Creditors due after more than one year
 8 
-
(28,543)

  

Net assets
  
1,237,221
1,194,372


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,237,121
1,194,272

  
1,237,221
1,194,372


Page 1

 
Draft for Approval
ARMITAGE CAPITAL LIMITED
REGISTERED NUMBER: 11114486
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 on 13 November 2024.




Karan Kumar
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Draft for Approval
ARMITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Armitage Capital Ltd is a private company limited by shares and registered in England & Wales. The address of its registered office is 33 Cavendish Square, 4th Floor, Our Space, Office 409, London, England, W1G 0PW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 areas involving a higher degree of judgement or complexity, or where assumptions or estimates are significant to the financial statements are disclosed in note 3.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working captial requirements through its banking facilities.
After reviewing the company's forecast and projection, the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the forseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Interest income

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

 
2.4

Finance costs

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.

 
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 reporting date in the countries where the Company operates and generates income.

Page 3

 
Draft for Approval
ARMITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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 cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:

Plant and machinery
-
25% Reducing balance basis
Motor vehicles
-
29% Per annum

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.9

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.

 
2.10

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.


3.


Employees

2023
2022
£
£

Wages and salaries
24,027
25,640

Social security costs
-
633

24,027
26,273


The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 
Draft for Approval
ARMITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 January 2023
5,031
54,583
59,614


Additions
1,309
-
1,309



At 31 December 2023

6,340
54,583
60,923



Depreciation


At 1 January 2023
2,113
23,744
25,857


Charge for the year on owned assets
1,030
-
1,030


Charge for the year on financed assets
-
15,829
15,829



At 31 December 2023

3,143
39,573
42,716



Net book value



At 31 December 2023
3,197
15,010
18,207



At 31 December 2022
2,918
30,839
33,757

Page 5

 
Draft for Approval
ARMITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
719,167
1,634,572



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,079,210
731,845



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Obligations under finance lease and hire purchase contracts
28,867
6,175

Other creditors
1,191,409
2,021,409

Accruals and deferred income
4,500
7,050

1,224,776
2,034,634



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Obligation under hire purchase contracts
-
28,543



9.


Related party transactions

At the reporting date the company owed Mr Ashni Kumar, a director of the company, £1,191,319 (2022: £2,021,409 owed to the company). During the year £200,000 was paid to the company and a further £1,030,090 advanced. The loan is interest free, unsecured and repayable on demand. 
At the reporting date, Mr Akhil Kumar, a director of the company, owed the company £141 (2022: £nil).
At the reporting date, Mr Karan Kumar, a director of the company, owed the company £4,500 (2022: £nil).

 
Page 6