Capehold Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05220659 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Capehold Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Guy Feite

REGISTERED OFFICE:

5 Indescon Square

Lightermans Road

London

E14 9DQ

REGISTERED NUMBER:

05220659 (England and Wales)

ACCOUNTANTS:

Adbell International Limited

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

FIXED ASSETS

Investments

3

-

145

CURRENT ASSETS

Debtors

4

3,850,600

3,878,469

Cash at bank

26,839

-

3,877,439

3,878,469

CREDITORS

Amounts falling due within one year

5

(3,880,266

)

(3,868,861

)

NET CURRENT (LIABILITIES)/ASSETS

(2,827

)

9,608

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,827

)

9,753

CAPITAL AND RESERVES

Called up share capital

6

1,472

1,472

Retained earnings

(4,299

)

8,281

SHAREHOLDERS' FUNDS

(2,827

)

9,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 25 September 2020 and were signed by:

Guy Feite - Director

1.	STATUTORY INFORMATION

Capehold Services 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.

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.

Turnover

Turnover represents share of losses from a partnership which trades outside the United Kingdom.

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

Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Prior year adjustments

The amount of Euro 3,823,755 has been transferred from Trade creditors to other creditors.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group

companies and preference shares that are classified as debt, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the

future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of

the company.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are

required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are

received.

Termination benefits are recognised immediately as an expense when the company is demonstrably

committed to terminate the employment of an employee or to provide termination benefits.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a

straight line basis over the term of the relevant lease except where another more systematic basis is more

representative of the time pattern in which economic benefits from the lease asset are consumed.

Going concern

The financial statements have been prepared on a going concern basis. The company has obtained undertakings

from its shareholders that they will continue to support the company for the foreseeable future and meet all third

party liabilities as they fall due. Given this undertaking, the directors consider it appropriate to adopt a going

concern basis in preparing the financial statements

3.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

€

COST

At 1 January 2019

145

Disposals

(145

)

At 31 December 2019

-

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

145

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

Restated

€

€

Amounts owed by participating interests

111,315

139,184

Other debtors

3,739,285

3,739,285

3,850,600

3,878,469

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

Restated

€

€

Trade creditors

336

-

Other creditors

3,879,930

3,868,861

3,880,266

3,868,861

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

€

€

1,000

Ordinary shares

£1

1,472

1,472

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Raymond Fortin.