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REGISTERED NUMBER: 07159184 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Capitax Financial Limited

Capitax Financial Limited (Registered number: 07159184)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Capitax Financial Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S V Shah





SECRETARY: N S Shah





REGISTERED OFFICE: Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS





REGISTERED NUMBER: 07159184 (England and Wales)





ACCOUNTANTS: Capitax Financial Limited
Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS

Capitax Financial Limited (Registered number: 07159184)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 10,591 13,481

CURRENT ASSETS
Debtors 5 40,359 20,345
Cash at bank 491,204 448,183
531,563 468,528
CREDITORS
Amounts falling due within one year 6 145,322 87,796
NET CURRENT ASSETS 386,241 380,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,832

394,213

PROVISIONS FOR LIABILITIES 7 2,012 2,561
NET ASSETS 394,820 391,652

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 394,720 391,552
SHAREHOLDERS' FUNDS 394,820 391,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

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

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:



S V Shah - Director


Capitax Financial Limited (Registered number: 07159184)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Capitax Financial 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.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

Capitax Financial Limited (Registered number: 07159184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 47,337
Additions 2,327
At 31 March 2024 49,664
DEPRECIATION
At 1 April 2023 33,856
Charge for year 5,217
At 31 March 2024 39,073
NET BOOK VALUE
At 31 March 2024 10,591
At 31 March 2023 13,481

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 37,889 17,383
Other debtors 328 820
38,217 18,203

Amounts falling due after more than one year:
Other debtors 2,142 2,142

Aggregate amounts 40,359 20,345

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 8,431 6,701
Taxation and social security 102,531 57,338
Other creditors 34,360 23,757
145,322 87,796

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 2,012 2,561

Capitax Financial Limited (Registered number: 07159184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 2,561
Accelerated Capital Allowances (549 )
Balance at 31 March 2024 2,012

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 March 2024, Capitax Financial Ltd owed £34,360.17 to its director. This amount is reflected accordingly in the directors' loan accounts in credit balance, which is shown under creditors due within one year. Please be advised that the director have agreed to provide this loan on an interest free basis and the loan is repayable on demand.

9. RELATED PARTY DISCLOSURES

As at 31 March 2024 the Director Samir Shah was owed £34,360.17 by the Company. The balance was shown as a credit in the Director's Current Account.

10. ULTIMATE CONTROLLING PARTY

The controlling party is S V Shah.

The ultimate controlling party is S V Shah.