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REGISTERED NUMBER: 05228107 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Tusk Capital Management Limited

Tusk Capital Management Limited (Registered number: 05228107)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Tusk Capital Management Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A R Irvine
J D Ockenden





REGISTERED OFFICE: 3rd Floor
45 Albemarle Street
London
W1S 4JL





REGISTERED NUMBER: 05228107 (England and Wales)





ACCOUNTANTS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

Tusk Capital Management Limited (Registered number: 05228107)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,228 2,551
Investments 5 1,094,946 1,094,908
1,096,174 1,097,459

CURRENT ASSETS
Debtors 6 473,485 313,525
Cash at bank 4,733 55,970
478,218 369,495
CREDITORS
Amounts falling due within one year 1,588,530 1,461,938
NET CURRENT LIABILITIES (1,110,312 ) (1,092,443 )
TOTAL ASSETS LESS CURRENT LIABILITIES (14,138 ) 5,016

CREDITORS
Amounts falling due after more than one year - 9,026
NET LIABILITIES (14,138 ) (4,010 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Share premium 277,499 277,499
Retained earnings (291,638 ) (281,510 )
SHAREHOLDERS' FUNDS (14,138 ) (4,010 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Tusk Capital Management Limited (Registered number: 05228107)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 December 2024 and were signed on its behalf by:





A R Irvine - Director


Tusk Capital Management Limited (Registered number: 05228107)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Tusk Capital Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - 20% straight-line
Computer equipment - 33% straight-line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Tusk Capital Management Limited (Registered number: 05228107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 49,124
DEPRECIATION
At 1 January 2023 46,573
Charge for year 1,323
At 31 December 2023 47,896
NET BOOK VALUE
At 31 December 2023 1,228
At 31 December 2022 2,551

Tusk Capital Management Limited (Registered number: 05228107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023 1,094,908
Additions 38
At 31 December 2023 1,094,946
NET BOOK VALUE
At 31 December 2023 1,094,946
At 31 December 2022 1,094,908

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other debtors 181,806 138,799

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A 0.01 1 1

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A R Irvine
Balance outstanding at start of year 60,395 43,368
Amounts advanced 12,571 22,027
Amounts repaid - (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,966 60,395

The above loan represents the highest balance during the year. Interest was charged at the HMRC approved rate. The loan was provided with no fixed repayment terms and no security.