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Registration number: 10241124

Staples Capital Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Staples Capital Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Staples Capital Ltd

Company Information

Director

Mr Mustafa Bilal

Registered office

20-22 Wenlock Road
London
N1 7GU

Accountants

ZAS Accountancy & Tax Ltd
Chartered Certified AccountantsSuite 427 Legacy Centre
Hampton Road West
Feltham
Middlesex
TW13 6DH

 

Staples Capital Ltd

Director's Report for the Year Ended 30 June 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

Director of the company

The director who held office during the year was as follows:

Mr Mustafa Bilal

Principal activity

The principal activity of the company is management consultancy.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 7 March 2025
 

.........................................
Mr Mustafa Bilal
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Staples Capital Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Staples Capital Ltd for the year ended 30 June 2024 as set out on pages 4 to 12 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 Staples Capital Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Staples Capital Ltd and state those matters that we have agreed to state to the Board of Directors of Staples Capital 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 Staples Capital Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Staples Capital 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 profit of Staples Capital Ltd. You consider that Staples Capital Ltd 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 accounts of Staples Capital 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.

......................................

ZAS Accountancy & Tax Ltd
Chartered Certified Accountants
Suite 427 Legacy Centre
Hampton Road West
Feltham
Middlesex
TW13 6DH

7 March 2025

 

Staples Capital Ltd

Profit and Loss Account for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

 

165,500

9,000

Gross profit

 

165,500

9,000

Administrative expenses

 

(156,935)

(8,668)

Operating profit

 

8,565

332

Profit before tax

4

8,565

332

Tax on profit

 

(1,475)

-

Profit for the financial year

 

7,090

332

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Staples Capital Ltd

Statement of Comprehensive Income for the Year Ended 30 June 2024

2024
£

2023
£

Profit for the year

7,090

332

Total comprehensive income for the year

7,090

332

 

Staples Capital Ltd

(Registration number: 10241124)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,197

4,394

Current assets

 

Debtors

6

10,000

500

Cash at bank and in hand

 

80,131

102

 

90,131

602

Creditors: Amounts falling due within one year

7

(83,983)

(3,742)

Net current assets/(liabilities)

 

6,148

(3,140)

Net assets

 

8,345

1,254

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

8,245

1,154

Shareholders' funds

 

8,345

1,254

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 7 March 2025
 

.........................................
Mr Mustafa Bilal
Director

 

Staples Capital Ltd

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Retained earnings
£

Total
£

At 1 July 2023

100

1,155

1,255

Profit for the year

-

7,090

7,090

At 30 June 2024

100

8,245

8,345

Share capital
£

Retained earnings
£

Total
£

At 1 July 2022

100

822

922

Profit for the year

-

332

332

At 30 June 2023

100

1,154

1,254

 

Staples Capital Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
20-22 Wenlock Road
London
N1 7GU
United Kingdom

These financial statements were authorised for issue by the director on 7 March 2025.

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 presentational currency of the financial statements is pound sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 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.

 

Staples Capital Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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

Furniture, fittings & equipment

25% straightline basis

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Staples Capital Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,197

2,197

 

Staples Capital Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

8,788

8,788

At 30 June 2024

8,788

8,788

Depreciation

At 1 July 2023

4,394

4,394

Charge for the year

2,197

2,197

At 30 June 2024

6,591

6,591

Carrying amount

At 30 June 2024

2,197

2,197

At 30 June 2023

4,394

4,394

6

Debtors

Current

2024
£

2023
£

Other debtors

10,000

500

 

10,000

500

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,116

-

Accruals and deferred income

1,527

660

Other creditors

80,340

3,082

83,983

3,742

 

Staples Capital Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Summary of transactions with key management

Other transactions with the director

During the year, Mr Mustafa Bilal, a director, lent the company £72,923. This loan is interest-free and has no set repayment terms. The amount due to the director at the year-end is £72,923.