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COMPANY REGISTRATION NUMBER: SC671789
Liberi Capital Limited
Filleted Unaudited Financial Statements
31 August 2024
Liberi Capital Limited
Financial Statements
Year ended 31 August 2024
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Liberi Capital Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Liberi Capital Limited
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Liberi Capital Limited for the year ended 31 August 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Liberi Capital Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Liberi Capital Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Liberi Capital Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Liberi Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Liberi Capital Limited. You consider that Liberi Capital Limited 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 financial statements of Liberi Capital Limited. 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 financial statements.
GILLILAND & COMPANY Chartered accountants
216 West George Street Glasgow G2 2PQ
16 December 2024
Liberi Capital Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,188,688
2,254,392
Current assets
Debtors
6
5,141
41,435
Cash at bank and in hand
103,613
180,233
---------
---------
108,754
221,668
Creditors: amounts falling due within one year
7
1,370,193
1,370,907
------------
------------
Net current liabilities
1,261,439
1,149,239
------------
------------
Total assets less current liabilities
1,927,249
1,105,153
Creditors: amounts falling due after more than one year
8
1,876,925
1,056,963
------------
------------
Net assets
50,324
48,190
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
49,324
47,190
--------
--------
Shareholders funds
50,324
48,190
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Liberi Capital Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 16 December 2024 , and are signed on behalf of the board by:
Mr T Nevin
Director
Company registration number: SC671789
Liberi Capital Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 of value.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income. or directly Current tax is recognised on taxable profit for the current periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Freehold property
£
Cost
At 1 September 2023
2,254,392
Additions
934,296
------------
At 31 August 2024
3,188,688
------------
Depreciation
At 1 September 2023 and 31 August 2024
------------
Carrying amount
At 31 August 2024
3,188,688
------------
At 31 August 2023
2,254,392
------------
6. Debtors
2024
2023
£
£
Other debtors
5,141
41,435
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
545
1,619
Social security and other taxes
39
82
Other creditors
1,369,609
1,369,206
------------
------------
1,370,193
1,370,907
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,876,925
1,056,963
------------
------------
9. Directors' advances, credits and guarantees
A balance of £4,108 was owed to the company to the directors as at 31st August 2024 and was repaid in full after the year-end (2023: (£453)).