Registration number: 13710835

Capewell Europe Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Capewell Europe Limited

(Registration number: 13710835)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Current assets
Debtors	6	3	19,377
Cash at bank and in hand		-	17,013
		3	36,390
Creditors: Amounts falling due within one year	7	(8,200)	(1,982,110)
Net liabilities		(8,197)	(1,945,720)
Capital and reserves
Called up share capital	8	3	3
Capital contribution reserve		2,475,172	-
Profit and loss account		(2,483,372)	(1,945,723)
Shareholders' deficit		(8,197)	(1,945,720)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been 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 has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 August 2026
 

......................................... Macau Jr. Carlos L. Director

Capewell Europe Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

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

The address of its registered office is:
Unit A3
Star West
Westmead Industrial Estate
Swindon
Wiltshire
SN5 7SW
England

These financial statements were authorised for issue by the director on 10 August 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 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 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.

The financial statements are presented in Sterling (£), which is also the company's functional currency. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company ceased trading on 31 July 2025. Accordingly, the financial statements have not been prepared on a going concern basis. Although formal liquidation proceedings had not commenced at the reporting date, the director had no intention of recommencing trading.

Accordingly, the financial statements have been prepared on a break-up basis. Assets have been measured at their estimated net realisable value and liabilities at their expected settlement amounts.

As part of the winding-down process, the parent company formally waived the company's outstanding loan balance of £2,475,172. The waiver has been recognised as a capital contribution within equity as at 31 October 2025.

Capewell Europe Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

Audit report

The Independent Auditor's Report was unqualified but contained an emphasis of matter as follows:

We draw attention to Note 2 of the financial statements, which describes the basis of preparation. The company ceased to trade as of July 2025 and accordingly, the financial statements have not been prepared on the going concern basis but on a break-up basis. Our opinion is not modified in respect of this matter.

The name of the Senior Statutory Auditor who signed the audit report on 27 August 2026 was Gary Moss, who signed for and on behalf of Sterlings Ltd.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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:

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Capewell Europe Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

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.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 : 6).

4	Auditors' remuneration

	Period from 1 November 2024 to 31 October 2025 £	Period from 1 January 2024 to 31 October 2024  £
Audit of the financial statements	8,200	20,250

 

Capewell Europe Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 November 2024	60,374	60,374
Disposals	(60,374)	(60,374)
At 31 October 2025	-	-
Depreciation
At 1 November 2024	60,374	60,374
Eliminated on disposal	(60,374)	(60,374)
At 31 October 2025	-	-
Carrying amount
At 31 October 2025	-	-

6

Debtors

Current	31 October 2025 £	31 October 2024 £
Prepayments	-	7,167
Other debtors	3	12,210
	3	19,377

7

Creditors

Creditors: amounts falling due within one year

	31 October 2025 £	31 October 2024 £
Due within one year
Trade creditors	-	10,293
Accruals and deferred income	8,200	275,246
Other creditors	-	1,696,571
	8,200	1,982,110

Capewell Europe Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

8	Share capital

Allotted, called up and fully paid shares

	31 October 2025		31 October 2024
	No.	£	No.	£
Ordinary shares of £1 each	3	3	3	3

9	Financial commitments, guarantees and contingencies

As at 31 October 2025, the company, as lessee, had total future minimum commitments under non-cancellable operating leases as set out below:

	31 October 2025  £	31 October 2024  £
Within one year	-	31,808
	-	31,808

As at 31 October 2025, the company’s total future minimum commitments under non-cancellable operating leases amounted to £nil (2024 - £31,808). Following the resolution passed on 31 July 2025 to place the company into liquidation, the company entered into a Deed of Surrender with the landlord on 7 August 2025, agreeing to the early termination of the lease for a surrender charge of £67,675.

Capewell Europe Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

10	Related party transactions

Key management compensation

	2025 £	2024 £
Salaries and other short term employee benefits	301,063	255,530
Termination benefits	-	78,768
	301,063	334,298

The comparative note has been restated to reflect the termination benefits payable to key management personnel in relation to their redundancies. The £78,768 was expensed as a general provision following a formal redundancy plan announced by the directors during the period ending 31 October 2024. The balance was settled in full during the period to 31 October 2025 and consequently, the bought forward provision was fully utilised and reversed.

Loans from related parties

2025	Intermediate holding company £	Total £
At start of period	1,696,571	1,696,571
Advanced	1,189,540	1,189,540
Repaid	(410,938)	(410,938)
Loan waived by intermediate holding company	(2,475,173)	(2,475,173)
At end of period	-	-

2024	Intermediate holding company £	Total £
At start of period	1,045,010	1,045,010
Advanced	741,033	741,033
Repaid	(89,472)	(89,472)
At end of period	1,696,571	1,696,571

11	Parent undertaking

The company's immediate parent is HFSC XII, LLC, incorporated in the United States of America.
 

The group in which the results of the company are consolidated is that headed by HEICO Corporation, the ultimate parent company. The consolidated accounts of this company are available at www.heico.com, under the Investor Relations section.