REGISTERED NUMBER: 15203056 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 11 OCTOBER 2023 TO 31 MARCH 2024

FOR

CAPEX (PORTFOLIO 1) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M C Hutson

D T Spencer

REGISTERED OFFICE:

Tomlinson House

Capitol Boulevard

Morley

Leeds

West Yorkshire

LS270TS

REGISTERED NUMBER:

15203056 (England and Wales)

ACCOUNTANTS:

Banks Cooper Associates Limited

21 Marina Court

Castle Street

Hull

HU1 1TJ

FIXED ASSETS

Investment property

4

1,479,497

CURRENT ASSETS

Debtors

5

349,496

Cash at bank

10,681

360,177

CREDITORS

Amounts falling due within one year

6

797,511

NET CURRENT LIABILITIES

(437,334

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,042,163

CREDITORS

Amounts falling due after more than one year

7

1,051,875

NET LIABILITIES

(9,712

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(9,714

)

(9,712

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the Company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

M C Hutson - Director

1.	STATUTORY INFORMATION

Capex (Portfolio 1) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

These financial statements have been prepared under the going concern principle although the liabilities of the Company exceed its assets. The Company is reliant on the continued support of its shareholders and creditors. The directors are confident that such support will continue to be provided. In making their assessment of going concern, the directors have also considered forecasts for the business, existing market conditions and economic factors generally. At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least one year from the date of approval. Accordingly, these financial statements have been prepared on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,479,497

At 31 March 2024

1,479,497

NET BOOK VALUE

At 31 March 2024

1,479,497

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

19,470

Other debtors

330,026

349,496

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

32,600

Other creditors

764,911

797,511

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,051,875

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

1,051,875