| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| ARDNAVE CAPITAL LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| ARDNAVE CAPITAL LIMITED |
| ARDNAVE CAPITAL LIMITED (REGISTERED NUMBER: 12359290) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ARDNAVE CAPITAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 25 St Thomas Street |
| Winchester |
| Hampshire |
| SO23 9HJ |
| ARDNAVE CAPITAL LIMITED (REGISTERED NUMBER: 12359290) |
| BALANCE SHEET |
| 31ST DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Fair value reserve | 8 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| ARDNAVE CAPITAL LIMITED (REGISTERED NUMBER: 12359290) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ARDNAVE CAPITAL LIMITED (REGISTERED NUMBER: 12359290) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Ardnave Capital Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Listed investments |
| Investments in listed company shares, which have been classified as fixed asset investments, are valued at market value at each balance sheet date. Gains and losses on valuation are recognised in the profit or loss for the period and transferred to the fair value reserve. |
| Income in the period is recognised as it arises. |
| Unlisted investments |
| Investments in unlisted company shares, which have been classified as fixed asset investments, are remeasured to market value at each balance sheet date, where an accurate assessment of market value exists. Gains and losses on remeasurement are recognised in profit or loss for the period. If such an assessment does not exist, these assets are held at cost less impairment. |
| Income in the period is recognised as it arises. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ARDNAVE CAPITAL LIMITED (REGISTERED NUMBER: 12359290) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1st January 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| Cost or valuation at 31st December 2024 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2024 | 4,737,902 |
| Valuation in 2023 | (271,752 | ) |
| Valuation in 2022 | (121,224 | ) |
| Valuation in 2021 | 1,140,233 |
| Cost | 11,419,178 |
| 16,904,337 |
| 5. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| ARDNAVE CAPITAL LIMITED (REGISTERED NUMBER: 12359290) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 0.001 | 98 | 98 |
| 8. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st January 2024 | 10,628,330 |
| Profit for the year |
| Movements in fair value reserve | (3,556,841 | ) | 3,556,841 | - |
| At 31st December 2024 | 14,833,167 |
| 9. | CAPITAL COMMITMENTS |
| 2024 | 2023 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| The company has a contractual commitment to purchase investments with a current estimated value of £3,376,429 (2023: £3,934,773). These investments have not been provided for in the financial statements. |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Loans from the company to the directors had a value of £429,580 (2023: £390,000) at the year end. These loans are interest free and repayable on demand. |