Registration number:
Capital Assets (NE) Ltd
for the Period from 24 May 2023 to 31 May 2024
Capital Assets (NE) Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Capital Assets (NE) Ltd
Company Information
Director |
W Leith |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Capital Assets (NE) Ltd
for the Period Ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Capital Assets (NE) Ltd for the period ended 31 May 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Capital Assets (NE) Ltd, as a body, in accordance with the terms of our engagement letter dated 24 May 2023. Our work has been undertaken solely to prepare for your approval the accounts of Capital Assets (NE) Ltd and state those matters that we have agreed to state to the Board of Directors of Capital Assets (NE) Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Capital Assets (NE) Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Capital Assets (NE) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Capital Assets (NE) Ltd. You consider that Capital Assets (NE) Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Capital Assets (NE) Ltd. 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 accounts.
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Chartered Certified Accountants
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ
Capital Assets (NE) Ltd
(Registration number: 14892126)
Balance Sheet as at 31 May 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
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Shareholders' funds |
100 |
For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his 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 director has not delivered to the registrar a copy of the directors' report and the Profit and Loss Account.
Approved and authorised by the
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Capital Assets (NE) Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Chateau Rocquebrune
La Route De St. Aubin
St. Helier
Jersey
JE2 3LL
United Kingdom
These financial statements were authorised for issue by the
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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
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:
Capital Assets (NE) Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024 (continued)
2 |
Accounting policies (continued) |
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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Additions |
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At 31 May 2024 |
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Depreciation |
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Carrying amount |
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At 31 May 2024 |
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Included within the net book value of land and buildings above is £9,390 in respect of freehold land and buildings.
Capital Assets (NE) Ltd
Notes to the Unaudited Financial Statements for the Period from 24 May 2023 to 31 May 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
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Due within one year |
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Loans and borrowings |
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Loans and borrowings |
Current loans and borrowings
2024 |
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Other borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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100 |