Registration number:
Natural Resources Global Capital Partners Limited
for the Year Ended 31 December 2024
Natural Resources Global Capital Partners Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Natural Resources Global Capital Partners Limited
Company Information
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Chairman |
J N W Vickers |
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Directors |
T M Alaviitala A Pilalitou J N W Vickers |
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Company secretary |
Goodwille Limited |
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Registered office |
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Bankers |
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Auditors |
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Natural Resources Global Capital Partners Limited
Strategic Report for the Year Ended 31 December 2024
The directors present their strategic report and financial statements for the year ended 31 December 2024.
Principal activity
The principal activity of the Company is the provision of corporate finance advice to the natural resources industry; mainly oil & gas and metals & mining sectors. The Company is authorised and regulated by the Financial Conduct Authority ("FCA").
Fair review of the business
The year ending 31 December 2024 represented the ninth full year of principal business activities of providing corporate finance advise.
As reported in the company’s profit and loss account, revenue has shown a decrease of £251,890 from £362,571 in 2023 to £110,681 in the current period. The decrease in revenues is due to the slight decrease in retainer income in 2024.
The loss after tax for the year ending 31 December 2024 is £57,469.
The results for the year and the financial position at the year-end were considered satisfactory by the directors who expect reasonable growth in the foreseeable future.
The company management team uses a range of performance measures to monitor and manage the business.
Given the straight forward nature of the corporate finance advisory business, the directors are of the opinion that analysis using KPIs is not necessary for the understanding of the position, performance and development of the business.
Natural Resources Global Capital Partners Limited
Strategic Report for the Year Ended 31 December 2024
Principal risks and uncertainties
In providing corporate finance advisory services the company is dependent upon its clients for its revenues. Therefore, the company faces the risk that these revenues might vary depending on the overall activity levels of the natural resources industry, the level of merger and acquisition activity in the natural resources sector, the level of competition in the corporate finance advisory sector, and the financial position of its clients.
Financial risk management relates to the company’s own assets and liabilities. The company has limited exposure to financial instruments; which include cash deposits, trade receivables and payables. The main risks arising from financial instruments are limited exposure to interest rate risk, liquidity risk and credit risk.
Liquidity risk
The company has sufficient access to funds according to the liquidity requirements stated by the FCA.
Interest rate risk
The company is exposed to interest rate risk with regard to its cash holdings. All cash holdings are at variable rates. The company does not have any borrowings and surplus funds are placed on a savings account.
Credit risk
Company’s debtors include small-to-medium size natural resources companies. The management team carefully considers its clients’ financial abilities to meet their financial obligations towards the company. As such the company has determined that the credit risk minimal in relation to the majority of the debtors. The company invests available cash with a credible global bank.
Approved by the
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Natural Resources Global Capital Partners Limited
Directors' Report for the Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors of the Company
The directors who held office during the year were as follows:
Future developments
The directors expect the company to continue with the provision of corporate finance advice to the natural resources industry for the foreseeable future.
Going concern
The company has made a loss in the year and has net current assets.The company is dependent on the support of its parent company to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis. Therefore, the financial statements have been prepared on a going concern basis.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
Chairman and Director
Natural Resources Global Capital Partners Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the company’s auditors are unaware. They have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Natural Resources Global Capital Partners Limited
Independent Auditor's Report to the Members of Natural Resources Global Capital Partners Limited
Opinion
We have audited the financial statements of Natural Resources Global Capital Partners Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Natural Resources Global Capital Partners Limited
Independent Auditor's Report to the Members of Natural Resources Global Capital Partners Limited
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Natural Resources Global Capital Partners Limited
Independent Auditor's Report to the Members of Natural Resources Global Capital Partners Limited
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.
The following laws and regulations were identified as being of significance to the entity:
• Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting regulations, Financial Conduct Authority reporting regulations, Company Law, Tax and Pensions legislation, and distributable profits legislation.
• Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include Financial Conduct Authority regulation for the UK (FCA).
Natural Resources Global Capital Partners Limited
Independent Auditor's Report to the Members of Natural Resources Global Capital Partners Limited
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
...............................................
For and on behalf of
Chartered Accountants
114 St Martin's Lane
Covent Garden
WC2N 4BE
Natural Resources Global Capital Partners Limited
Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating (loss)/profit |
(50,792) |
28,517 |
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Loss on financial assets at fair value through profit and loss |
( |
( |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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(6,677) |
(71,831) |
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Loss before tax |
( |
( |
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Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The Company has no recognised gains or losses for the year other than the results above.
Natural Resources Global Capital Partners Limited
(Registration number: 07865967)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Other financial assets |
8,591 |
51,793 |
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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 assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
752,798 |
752,798 |
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Share premium reserve |
685 |
685 |
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Retained earnings |
119,019 |
176,488 |
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Shareholders' funds |
872,502 |
929,971 |
Approved and authorised by the
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Natural Resources Global Capital Partners Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 January 2024 |
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|
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Loss for the year |
- |
- |
( |
( |
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At 31 December 2024 |
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|
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 January 2023 |
|
|
|
|
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Loss for the year |
- |
- |
( |
( |
|
At 31 December 2023 |
752,798 |
685 |
176,488 |
929,971 |
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Summary of disclosure exemptions
As a qualifying entity, the individual company has taken advantage of the exemption, under Section 1.12 of FRS 102, not to prepare a Statement of Cash Flows; from the requirement to present financial instrument disclosures, as required by FRS 102 paragraphs 11.40 to 11.48A, 12.26 to 12.29A; and to
disclose key management personnel compensation. It has also taken advantage of the exemption under Section 33.1A not to disclose related party transactions between the company and its parent company.
Name of parent of group
These financial statements are consolidated in the financial statements of Natural Resources Global Capital Group Limited.
The financial statements of Natural Resources Global Capital Group Limited may be obtained from 1 Chapel Street, Warwick, United Kingdom, CV34 4HL.
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Going concern
The company has made a loss in the year and has net current assets.The company is dependent on the support of its parent company to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis. Therefore, the financial statements have been prepared on a going concern basis.
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the 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.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises 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.
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.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Tangible assets
Tangible assets are stated in the statement of financial position 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:
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Asset class |
Depreciation method and rate |
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Furniture, fittings and equipment |
20% straight line |
Investments
Investments in financial instruments are carried at fair value and the changes in fair value are recognised in the profit and loss.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Trade debtors are amounts due from customers for 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.
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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.
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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Significant judgements and estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements or key sources of estimation uncertainty.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2024 |
2023 |
|
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Rendering of services |
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Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
The analysis of the Company's Turnover for the year by market is as follows:
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2024 |
2023 |
|
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Rest of world |
|
|
|
Operating (loss)/profit |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
|
Foreign exchange (gains)/losses |
( |
|
|
Other interest receivable and similar income |
|
2024 |
2023 |
|
|
Other finance income |
|
|
Included within other finance income is the unwinding of discounting on debtor due more than one year amounting £11,938 (2023 - £11,937).
|
Interest payable and similar expenses |
|
2024 |
2023 |
|
|
Other finance costs |
|
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Included within other finance costs is the discounting on debtor due more than one year amounting £6,115 (2023 - £10,147).
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2024 |
2023 |
|
|
Wages and salaries |
- |
|
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Social security costs |
- |
|
|
Pension costs, defined contribution scheme |
- |
|
|
- |
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2024 |
2023 |
|
|
Sales, marketing and distribution |
- |
|
|
- |
|
|
Auditors' remuneration |
|
2024 |
2023 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
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All other non-audit services |
|
|
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Taxation |
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2024 |
2023 |
|
|
Loss before tax |
( |
( |
|
Corporation tax at standard rate |
( |
( |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax decrease from other short-term timing differences |
- |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
( |
( |
|
Effect of tax losses |
- |
( |
|
Tax increase from effect of unrelieved tax losses carried forward |
|
|
|
Further item of tax increase |
- |
|
|
Total tax charge/(credit) |
- |
- |
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Tangible assets |
|
Furniture, fittings and equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2024 |
|
|
|
At 31 December 2024 |
|
|
|
Depreciation |
||
|
At 1 January 2024 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2024 |
|
|
|
Carrying amount |
||
|
At 31 December 2024 |
|
|
|
At 31 December 2023 |
|
|
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Other financial assets (current and non-current) |
|
Financial assets at fair value through profit and loss |
Total |
|
|
Current financial assets |
||
|
Cost or valuation |
||
|
At 1 January 2024 |
51,793 |
51,793 |
|
Additions |
9,237 |
9,237 |
|
Fair value adjustments |
(12,500) |
(12,500) |
|
Disposals |
(39,939) |
(39,939) |
|
At 31 December 2024 |
8,591 |
8,591 |
|
Carrying amount |
||
|
At 31 December 2024 |
|
8,591 |
|
Debtors |
|
Current |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
|
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Details of non-current trade and other debtors
£889,511 (2023 - £856,599) of amounts owed by related parties is classified as non current.
|
Cash and cash equivalents |
|
2024 |
2023 |
|
|
Cash at bank |
|
|
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Creditors |
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts due to related parties |
|
|
|
|
Social security and other taxes |
- |
|
|
|
Outstanding defined contribution pension costs |
- |
|
|
|
Other payables |
|
- |
|
|
Accruals |
|
|
|
|
Corporation tax liability |
674 |
655 |
|
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £Nil (2023 - £
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
752,100 |
|
752,100 |
|
|
|
313 |
|
313 |
|
|
|
322 |
|
322 |
|
|
- |
- |
- |
- |
|
|
- |
- |
- |
- |
|
|
|
63 |
|
63 |
|
|
|
|
|
|
Rights, preferences and restrictions
|
Ordinary A shares have the following rights, preferences and restrictions: |
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Ordinary B shares have the following rights, preferences and restrictions: |
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Ordinary C shares have the following rights, preferences and restrictions: |
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Ordinary D shares have the following rights, preferences and restrictions: |
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Ordinary E shares have the following rights, preferences and restrictions:
The shares have no voting rights and are entitled to a dividend. The shares have attached to them particular rights - subject to certain restrictions regarding the right to participate in the proceeds of future sales.
Ordinary F shares have the following rights, preferences and restrictions:
The shares have no voting rights and are entitled to a dividend. The shares have attached to them particular rights - subject to certain restrictions regarding the right to participate in the proceeds of future sales.
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Dividends |
There were no dividends paid or proposed during either the current or previous year.
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Parent and ultimate parent undertaking |
The Company's immediate parent is
These financial statements are available upon request from 1 Chapel Street, Warwick,Warwickshire, CV34 4HL, United Kingdom.
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Related party transactions |
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Transactions with directors |
|
2024 |
At 1 January 2024 |
Advances to director |
At 31 December 2024 |
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A Pilalitou |
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Loan account for which there are no fixed repayment terms and no interest is charged |
( |
( |
( |
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2023 |
At 1 January 2023 |
Advances to director |
At 31 December 2023 |
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A Pilalitou |
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Loan account for which there are no fixed repayment terms and no interest is charged |
( |
( |
( |
Summary of transactions with other related parties
An amount of £889,511 relates to amounts owed by related parties within debtors, of which a loan of £865,411 (2023 - £843,473) has been provided from a company controlled by a shareholder, which has significant influence over Natural Resources Global Partners Limited. The lending company has provided a loan whilst waiving its right to interest at the time of issuance of the revolving loan facility.
During the year Natural Resources Global Capital Partners Limited paid for expenses of £1,234 (2023 - £813) on behalf of Viridian Industries Plc, which is a dormant company.
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Loans to related parties
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2024 |
Other related parties |
Total |
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At start of period |
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|
|
Advanced |
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|
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Repaid |
( |
( |
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Interest transactions |
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|
|
At end of period |
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|
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||
|
2023 |
Other related parties |
Total |
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At start of period |
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|
|
Advanced |
|
|
|
Interest transactions |
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|
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At end of period |
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Terms of loans to related parties
Related parties exemption
Other amounts due from group relate to 100% owned companies and are not disclosed under section 33.1A of FRS 102.
Natural Resources Global Capital Partners Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Financial instruments |
Financial assets measured at fair value
Listed investments
The fair value is £8,591 (2023 - £51,793) and the change in value included in profit or loss is £(12,500) (2023 - £(73,621)).
The fair value of the investments are based on quoted market prices. During the year, the company recognised a loss to the profit and loss of £12,500 (2023: £73,621) in respect of fair value adjustments to the investments carried at fair value. The fair value adjustment contained a combination of realised and unrealised gains/losses.