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Registration number: 12602347

Actcap Limited

trading as Actcap Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Actcap Limited

trading as Actcap Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Actcap Limited

trading as Actcap Limited

Company Information

Directors

Mr Ashley Townsend

Ms Michaela Mangan

Registered office

Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

 

Actcap Limited

trading as Actcap Limited

(Registration number: 12602347)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,415

4,489

Current assets

 

Cash at bank and in hand

 

15,205

35,648

Creditors: Amounts falling due within one year

5

(17,306)

(14,205)

Net current (liabilities)/assets

 

(2,101)

21,443

Total assets less current liabilities

 

27,314

25,932

Creditors: Amounts falling due after more than one year

5

(18,975)

-

Provisions for liabilities

(5,589)

(853)

Net assets

 

2,750

25,079

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,650

24,979

Shareholders' funds

 

2,750

25,079

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 December 2024 and signed on its behalf by:
 

 

Actcap Limited

trading as Actcap Limited

(Registration number: 12602347)
Balance Sheet as at 31 May 2024

.........................................
Mr Ashley Townsend
Director

.........................................
Ms Michaela Mangan
Director

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England

These financial statements were authorised for issue by the Board on 9 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Judgements

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.

Revenue recognition

Turnover comprises 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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

5,896

-

5,896

Additions

1,387

28,995

30,382

Disposals

(258)

-

(258)

At 31 May 2024

7,025

28,995

36,020

Depreciation

At 1 June 2023

1,407

-

1,407

Charge for the year

1,590

3,624

5,214

Eliminated on disposal

(16)

-

(16)

At 31 May 2024

2,981

3,624

6,605

Carrying amount

At 31 May 2024

4,044

25,371

29,415

At 31 May 2023

4,489

-

4,489

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

8,700

-

Trade creditors

 

270

-

Taxation and social security

 

5,954

12,240

Accruals and deferred income

 

2,050

1,860

Other creditors

 

332

105

 

17,306

14,205

Creditors: amounts falling due after more than one year

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

18,975

-

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

7

Dividends

2024

2023

£

£

Interim dividend of £670.00 (2023 - £775.00) per ordinary share

67,000

77,500

 

 

8

Related party transactions

At the balance sheet date, the company owed £333 (2023: £106) to Ashley Townsend, a director and sole shareholder of the company. There are no terms for repayment no interest is being charged.

 

Actcap Limited

trading as Actcap Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Ultimate controlling party

The ultimate controlling party is Ashley Townsend, by virtue of him being the sole shareholder.

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

18,975

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,485

-

Hire purchase contracts

215

-

8,700

-