REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Hunston Capital Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Hunston Capital Limited |
Hunston Capital Limited (Registered number: 09285068) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Chartered Accountants' Report | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Hunston Capital Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hunston Capital Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Hunston Capital Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hunston Capital Limited and state those matters that we have agreed to state to the director of Hunston Capital Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hunston Capital Limited and its director for our work or for this report. |
It is your duty to ensure that Hunston Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hunston Capital Limited. You consider that Hunston Capital Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Hunston Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
2nd Floor, Heathmans House |
19 Heathmans Road |
London |
SW6 4TJ |
Hunston Capital Limited (Registered number: 09285068) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 |
4,707,814 | 4,495,726 |
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. |
Hunston Capital Limited (Registered number: 09285068) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
Hunston Capital Limited (Registered number: 09285068) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Hunston Capital Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09285068 and its registered address is 2nd Floor, Heathmans House, 19 Heathmans Road, London, England, SW6 4TJ. |
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. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements. |
Turnover |
Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year. |
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 balance sheet date. |
Fixed assets investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
Listed investments are measured at fair value with changes in fair value being recognised in Income Statement. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
31.3.24 | 31.3.23 |
£ | £ |
Other investments not loans |
Hunston Capital Limited (Registered number: 09285068) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Unlisted |
investments |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Investments (neither listed nor unlisted) were as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Loan Notes at Fair Value | 509,595 | 509,595 |
The company has an investment of £425,581 (2023: £425,581) as follows: £834 (2023: £834) representing 100% of B class share capital with voting rights and £424,747 (2023: £424,747) representing Management preference shares, in Zeus Topco Limited, a company incorporated in England and Wales. |
The company has an investment of £509,595 (2023: £509,595) in Non QCB loan notes in ZF Bidco Limited, a company incorporated in England and Wales. The notes entitle the company to 12% interest per annum and is repayable within 6 years from the date of issue. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
S455 tax |
Director's loan account | 1,577,415 | 1,542,574 |
Accrued income |
6. | CURRENT ASSET INVESTMENTS |
31.3.24 | 31.3.23 |
£ | £ |
Cryptocurrency |
Cryptocurrency investments are initially recognised at cost on the date the transactions are entered into and are subsequently revalued to reflect the fair value. Changes in the fair value of the investment, both realised and unrealised, are recognised in the Income Statement. |
Hunston Capital Limited (Registered number: 09285068) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Tax |
Accrued expenses |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 |
Profit for the year |
At 31 March 2024 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included within Other Debtors is an amount of £1,577,415 (2023: £1,542,574), owed by Mr L S G Townsend. The outstanding balance is unsecured, subject to 2.25% interest and repayable on demand. Interest in the amount of £34,841 (2023: £33,103) was charged during the year. |