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Company No: 06969156 (England and Wales)

BIDWELL CAPITAL LTD.

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BIDWELL CAPITAL LTD.

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BIDWELL CAPITAL LTD.

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
BIDWELL CAPITAL LTD.

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Tangible assets 4 33,769 33,891
Investments 5 39,957 39,957
73,726 73,848
Current assets
Debtors 6 224,890 109,785
Cash at bank and in hand 232,743 109,875
457,633 219,660
Creditors: amounts falling due within one year 7 ( 187,721) ( 54,532)
Net current assets 269,912 165,128
Total assets less current liabilities 343,638 238,976
Net assets 343,638 238,976
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 343,538 238,876
Total shareholders' funds 343,638 238,976

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Bidwell Capital Ltd. (registered number: 06969156) were approved and authorised for issue by the Director on 27 May 2025. They were signed on its behalf by:

Robert Bidwell Bibow
Director
BIDWELL CAPITAL LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BIDWELL CAPITAL LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bidwell Capital Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 42 Lytton Road, Barnet, EN5 5BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year error

The prior year's financial statements have been restated as a result of the tax charge for YE 31/12/2021 not being reflected in the retained earnings figure brought forward to YE 31/12/2022. Therefore the prior year's creditors: amounts falling due within one year balance has increased by £9,284 and the profit and loss account has reduced by £9,284.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 31 December 2022 £ £ £
Creditors: amounts falling due within one year (45,248) (9,284) (54,532)
Profit and loss account 248,160 (9,284) 238,876

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 January 2023 33,404 4,899 38,303
At 31 December 2023 33,404 4,899 38,303
Accumulated depreciation
At 01 January 2023 0 4,412 4,412
Charge for the financial year 0 122 122
At 31 December 2023 0 4,534 4,534
Net book value
At 31 December 2023 33,404 365 33,769
At 31 December 2022 33,404 487 33,891

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 39,957 39,957
At 31 December 2023 39,957 39,957
Carrying value at 31 December 2023 39,957 39,957
Carrying value at 31 December 2022 39,957 39,957

6. Debtors

2023 2022
£ £
Amounts owed by director 224,890 109,785

7. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 9,490 9,490
Accruals 6,354 9,000
Taxation and social security 171,876 35,419
Other creditors 1 623
187,721 54,532

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts owed by the director 224,890 109,785

Advances of £259,399 and drawings of £372,041 were made during the year. Interest is being charged on this balance at 2.25%.

Other related party transactions

2023 2022
£ £
Amounts owed by related parties 9,490 9,490