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Registered number: 14050608
Araceae Capital Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
LABAIT PROFESSIONALS LIMITED
Institute of Financial Accountants
Unit 1
17 Castle Street
Chester
England
CH1 2DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14050608
30 April 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,909 6,600
6,909 6,600
CURRENT ASSETS
Debtors 5 93,638 90,200
Cash at bank and in hand 17,156 946
110,794 91,146
Creditors: Amounts Falling Due Within One Year 6 (36,736 ) -
NET CURRENT ASSETS (LIABILITIES) 74,058 91,146
TOTAL ASSETS LESS CURRENT LIABILITIES 80,967 97,746
NET ASSETS 80,967 97,746
CAPITAL AND RESERVES
Called up share capital 7 100,000 100,000
Profit and Loss Account (19,033 ) (2,254 )
SHAREHOLDERS' FUNDS 80,967 97,746
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr ZE QIAN
Director
22/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Araceae Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14050608 . The registered office is 2 Apartment 2, Coda Residence, 6 York Place, London, SW11 3JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments FRS 102' to all of its financial instrument.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liability are offset, with the net amounts present in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balance, and initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instrument are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 3,800 5,000 8,800
Additions - 2,940 2,940
As at 30 April 2024 3,800 7,940 11,740
Depreciation
As at 1 May 2023 950 1,250 2,200
Provided during the period 950 1,681 2,631
As at 30 April 2024 1,900 2,931 4,831
Net Book Value
As at 30 April 2024 1,900 5,009 6,909
As at 1 May 2023 2,850 3,750 6,600
5. Debtors
30 April 2024 30 April 2023
£ £
Due within one year
Other debtors 93,638 90,200
6. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 April 2023
£ £
Other creditors 36,736 -
7. Share Capital
30 April 2024 30 April 2023
£ £
Called Up Share Capital not Paid 90,200 90,200
Called Up Share Capital has been paid up 9,800 9,800
Amount of Allotted, Called Up Share Capital 100,000 100,000
8. Related Party Transactions
At the start of the accounting year, the opening balance of the directors' loans owned by the company was nil.
During the year, director Ze Qian withdrew £7,000,  the company also borrowed £43,188.43 from the director Ze Qian.
The closing balance of the directors' loans owned by the company at the end of the accounting year is £36,188.43.
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