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Registered number: 03861194









CALCULUS CAPITAL LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CALCULUS CAPITAL LTD
REGISTERED NUMBER: 03861194

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
38,278
43,521

Investments
 5 
4
4

  
38,282
43,525

Current assets
  

Debtors: amounts falling due within one year
 6 
3,403,942
2,997,822

Cash at bank and in hand
 7 
2,582,930
2,586,647

  
5,986,872
5,584,469

Creditors: amounts falling due within one year
 8 
(416,228)
(187,035)

Net current assets
  
 
 
5,570,644
 
 
5,397,434

Total assets less current liabilities
  
5,608,926
5,440,959

  

Net assets
  
5,608,926
5,440,959


Capital and reserves
  

Called up share capital 
  
120,000
120,000

Profit and loss account
  
5,488,926
5,320,959

  
5,608,926
5,440,959


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 comprehensive income 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 by: 


JHN Ngo
Director
Date: 8 January 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
CALCULUS CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The company is incorporated in the United Kingdom and the registered address is the same as its
principal place of business, being:
12 Conduit Street
London
W1S 2XH
The primary nature of the business is to operate and manage alternative investment funds and make
investments on behalf of investors in these funds. The majority of income is generated through the
transaction fees and the management charges it obtains for undertaking these transactions.
The functional and presentation currency is GBP.

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 following principal accounting policies have been applied:

 
2.2

Going concern

In making their going concern assessment, the Director's have assessed the Company's post balance sheet date performance alongside its existing cash reserves and working capital. The Directors believe the Company will be able to meet its obligations as they fall due and thus continue in its operations for a period of no less than 12 months from the date of these financial statements.
As such, the Director's believe it is appropriate to prepare these financial statements on a going concern basis.

Page 2

 
CALCULUS CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
CALCULUS CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.


 
2.8

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 the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

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

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
CALCULUS CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.13

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

  
2.14

Exemption from preparing consolidated financial statements

The company is a subsidiary company of a parent undertaking. The group does not have a duty to prepare consolidated accounts under section 399 of the Companies Act 2006 as the group is subject to the small companies regime.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 - 21).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 November 2023
82,197


Additions
7,768



At 31 October 2024

89,965



Depreciation


At 1 November 2023
38,676


Charge for the year on owned assets
13,011



At 31 October 2024

51,687



Net book value



At 31 October 2024
38,278



At 31 October 2023
43,521

Page 5

 
CALCULUS CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
4



At 31 October 2024
4





6.


Debtors

2024
2023
£
£


Trade debtors
2,982,979
2,637,133

Other debtors
12
1,040

Prepayments and accrued income
420,951
359,649

3,403,942
2,997,822



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,582,930
2,586,647


Page 6

 
CALCULUS CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
56,017
8,888

Amounts owed to group undertakings
4
4

Corporation tax
12,595
-

Other taxation and social security
179,766
33,760

Other creditors
13,285
7,607

Accruals and deferred income
154,561
136,776

416,228
187,035



9.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £219,088 (2023 - £209,325). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in other creditors.


10.


Controlling party

The ultimate controlling party is Calculus Holdings Limited, incorporated in England and Wales. The registered address and principal place of business are the same as for Calculus Capital Limited.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 October 2024 was unqualified.

The audit report was signed on 9 January 2025 by Samuel Hodson BSc ACA (Senior statutory auditor) on behalf of Hillier Hopkins LLP.

 
Page 7