Registration number: 14233760

Capsule Records Limited

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 11

Capsule Records Limited

Company Information

Directors

Mr Lawrence James Bleach Miss Sarah Louise Hennessy

Company secretary

Mr Lawrence James Bleach

Registered office

Flat 8, 21 First Avenue Hove BN3 2FH

Accountants

Franklin, Chartered Accountants 320 Garratt Lane London SW18 4EJ

Capsule Records Limited

(Registration number: 14233760)
Abridged Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	1,292	659
Current assets
Stocks	5	30,813	26,952
Debtors		1,274	246
Cash at bank and in hand		24,671	9,722
		56,758	36,920
Creditors: Amounts falling due within one year		(307,417)	(283,642)
Net current liabilities		(250,659)	(246,722)
Total assets less current liabilities		(249,367)	(246,063)
Provisions for liabilities		(245)	(125)
Net liabilities		(249,612)	(246,188)
Capital and reserves
Called up share capital	6	12	12
Retained earnings		(249,624)	(246,200)
Shareholders' deficit		(249,612)	(246,188)

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 July 2026 and signed on its behalf by:
 

Capsule Records Limited

(Registration number: 14233760)
Abridged Balance Sheet as at 31 March 2026

......................................... Mr Lawrence James Bleach Company secretary and director

......................................... Miss Sarah Louise Hennessy Director

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Flat 8, 21 First Avenue
Hove
BN3 2FH

The principal place of business is:
37 Western Road
Hove
BN3 1AF

These financial statements were authorised for issue by the Board on 27 July 2026.

2	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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises deferred 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.

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class	Depreciation method and rate
Computer equipment	33.33% Straight Line

Investment property

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

Trade 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

Financial instruments

Classification
The Company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

 Recognition and measurement
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

 Impairment
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2025	2,030	2,030
Additions	1,443	1,443
At 31 March 2026	3,473	3,473
Depreciation
At 1 April 2025	1,371	1,371
Charge for the year	810	810
At 31 March 2026	2,181	2,181
Carrying amount
At 31 March 2026	1,292	1,292
At 31 March 2025	659	659

5

Stocks

	2026 £	2025 £
Other inventories	30,813	26,952

6	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £0.01 each	1,000	10	1,000	10

Allotted, called up and not fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £0.01 each	175	1.75	175	1.75

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

7	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £290,000 (2025 - £270,000). This was a loan agreement provided to the company from Mr Lawrence James Bleach and Miss Sarah Louise Hennessy who are directors of the company. The loan incurs no interest unless the lenders demand the loan and the loan is not paid within 3 months of receiving the written request and the interest will be 2% above the Bank of England's base rate. The current facility available to the company is £1,000,000 the company current borrowings are £290,000

8	Related party transactions

Capsule Records Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

Summary of transactions with all entities with joint control or significant interest

Capsule Venture Limited These were items for Capsule Records Limited, that were paid by Capsule Ventures Limited.
At the year end the company owed Capsule Venture Limited £Nil.

Loans from related parties

2026	Entities with joint control or significant influence £	Total £
At start of period	(30)	(30)
Advanced	30	30
At end of period	-	-

2025	Entities with joint control or significant influence £	Total £
At start of period	(30)	(30)
At end of period	(30)	(30)