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Registered number: 02951712














CAPITALBOND LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
CAPITALBOND LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
CAPITALBOND LIMITED
REGISTERED NUMBER:02951712

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
200,000
200,000

Investment property
 5 
16,500,000
18,700,000

  
16,700,000
18,900,000

Current assets
  

Debtors: amounts falling due within one year
 6 
12,262,939
9,897,983

Bank and cash balances
  
77,531
54,601

Current liabilities
  
12,340,470
9,952,584

Creditors: amounts falling due within one year
 7 
(703,496)
(697,154)

Net current assets
  
 
 
11,636,974
 
 
9,255,430

Total assets less current liabilities
  
28,336,974
28,155,430

Provisions for liabilities
  

Deferred tax
 8 
(3,951,090)
(4,017,269)

Net assets
  
24,385,884
24,138,161


Capital and reserves
  

Called up share capital 
 9 
2
2

Revaluation reserve
  
12,098,550
12,297,085

Profit and loss account
  
12,287,332
11,841,074

  
24,385,884
24,138,161


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
CAPITALBOND LIMITED
REGISTERED NUMBER:02951712
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2025.




C G Rifkind
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CAPITALBOND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Capitalbond Limited is a private limited liability company incorporated in England and Wales with its principal place of business and registered office address at The Tea House, 17 Hall Road, London, NW8 9RF.
The principal activity of the company continued to be that of property investment.
The company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises rent receivable exclusive of VAT. Insurance recoveries are offset against the related expense.
Rents are recognised in the period to which they relate. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Page 3

 
CAPITALBOND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Intangible asset - rights to income

Rights to income are stated at cost, less any impairment.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.7

Debtors

Short term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by deposits with financial institutions.

 
2.9

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including the director, during the year was 4 (2023 - 4).


4.


Intangible assets




Rights to income

£



Cost


At 1 January 2024
200,000



At 31 December 2024

200,000






Net book value



At 31 December 2024
200,000



At 31 December 2023
200,000

Page 4

 
CAPITALBOND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
           4.Intangible assets (continued)

The intangible assets comprise a right to income in respect of ground rents for a 125 year lease which commenced in 2001.




5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 January 2024
18,700,000


Disposals
(2,200,000)



At 31 December 2024
16,500,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




6.


Debtors

2024
2023
£
£

Trade debtors
26,057
10,325

Amounts owed by group undertakings
12,209,662
9,712,494

Other debtors
19,228
175,164

Prepayments and accrued income
7,992
-

12,262,939
9,897,983


Page 5

 
CAPITALBOND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,935
716

Amounts owed to group undertakings
4,198
-

Taxation and social security
-
1,088

Other creditors
43,662
44,935

Accruals and deferred income
648,701
650,415

703,496
697,154



8.


Deferred taxation




2024


£






At beginning of year
4,017,269


Charged to profit or loss
(66,179)



At end of year
3,951,090

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value adjustments
3,951,090
4,017,269


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1 each
2
2



10.


Other financial commitments

The company is liable to pay ground rent at a current rate of £35,000 per annum under the head lease of an investment property. This liability is recharged to tenants, and therefore has no net impact on the company’s results.

Page 6

 
CAPITALBOND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Related party transactions

The company has taken advantage of the exemption under FRS102 33.1A Related arty Disclosures not to disclose transactions entered into between two or members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


12.


Controlling party

The company is a wholly owned subsidiary of Carlton Gate Sales Limited, a company registered in England and Wales. The director regard Teahouse Associates Limited, a company registered in England and Wales, as the ultimate parent company. C G Rifkind, a director of the company is the ultimate controlling party.

 
Page 7