Search Capital Limited |
Notes to the Accounts |
for the period from 12 July 2023 to 31 December 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Consolidation The company and its subsidiary comprise a small group. The company has taken advantage of Section 398 of the Companies Act 2006 not to prepare group consolidated accounts |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2024 |
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Number |
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Average number of persons employed by the company |
0 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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Additions |
42 |
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At 31 December 2024 |
42 |
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The company owns 100% of the share capital of Search Fund Capital (Pty) Limited, a company registered in South Africa. That company prepares its accounts to 28 February, and at 28 February 2025 it had net capital and reserves of -£198,634 (deficit) and a loss for the year of £95,006. These figures are set out using an average conversion rate of 23 Rand to £1. |
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4 |
Debtors |
2024 |
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£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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100 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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£ |
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Trade creditors |
474 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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15,588 |
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16,062 |
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6 |
Controlling party |
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The ultimate Parent Company is Rubik Cube Capital Limited, a company registered in the British Virgin Islands. |
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7 |
Going Concern consideration |
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The Directors consider that with the continuing support of the group company lenders, that the company shall remain a going concern, and the accounts are prepared on this basis. |
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8 |
Other information |
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Search Capital Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Regent House |
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Theobald Street |
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Borehamwood |
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Herts. |
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WD6 4RS |