Bute Capital Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06804158 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2019

for

BUTE CAPITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Harrison

REGISTERED OFFICE:

PO Box 687

Weybridge

Surrey

KT13 3GG

REGISTERED NUMBER:

06804158 (England and Wales)

ACCOUNTANTS:

Graham Martin & Co

Accountants

89 Leigh Road

Eastleigh

Hampshire

SO50 9DQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,701

10,876

8,701

10,876

CURRENT ASSETS

Debtors

6

9,257,702

9,166,620

Cash at bank and in hand

767,675

484,034

10,025,377

9,650,654

CREDITORS

Amounts falling due within one year

7

4,549,367

5,212,712

NET CURRENT ASSETS

5,476,010

4,437,942

TOTAL ASSETS LESS CURRENT LIABILITIES

5,484,711

4,448,818

CREDITORS

Amounts falling due after more than one year

8

(3,828,978

)

(3,101,623

)

PROVISIONS FOR LIABILITIES

(33,179

)

(15,479

)

NET ASSETS

1,622,554

1,331,716

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

9

36,845

36,845

Retained earnings

9

1,584,709

1,293,871

SHAREHOLDERS' FUNDS

1,622,554

1,331,716

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th November 2020 and were signed by:

J A Harrison - Director

1.	STATUTORY INFORMATION

Bute Capital 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

Lease finance income:-

Equipment leasing income is recognised on a systematic and rational basis and is calculated as a constant periodic return on the lessor's net investment.

Loan finance income:-

Loans advanced are included within debtors. Loan repayments are apportioned between the financial element, which is charged to the profit and loss account, and the capital element, which reduces the outstanding obligation for future instalments, so as to give a constant rate of charge on the outstanding obligation.

Domain registration costs

Amortisation is provided to write off the domain registration costs over their expected useful life of 10 years.

Website and branding costs

Amortisation is provided to write off the website and branding costs over their expected useful life of 3 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture & Equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Website

Domain

and

registration

branding

Totals

£

£

£

COST

At 1st January 2019

and 31st December 2019

259

3,550

3,809

AMORTISATION

At 1st January 2019

and 31st December 2019

259

3,550

3,809

NET BOOK VALUE

At 31st December 2019

-

-

-

At 31st December 2018

-

-

-

5.	TANGIBLE FIXED ASSETS

Furniture

Computer

& Equipment

equipment

Totals

£

£

£

COST

At 1st January 2019

and 31st December 2019

39,367

5,515

44,882

DEPRECIATION

At 1st January 2019

28,491

5,515

34,006

Charge for year

2,175

-

2,175

At 31st December 2019

30,666

5,515

36,181

NET BOOK VALUE

At 31st December 2019

8,701

-

8,701

At 31st December 2018

10,876

-

10,876

6.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

332,017

99,427

Loan finance debtors

625,863

339,941

Lease finance debtors

3,642,933

2,598,403

Other debtors

5,624

186,993

VAT

-

34,146

Prepayments

208,133

243,593

4,814,570

3,502,503

Amounts falling due after more than one year:

Lease finance debtors

3,210,809

4,736,272

Loan finance debtors

1,232,323

927,845

4,443,132

5,664,117

Aggregate amounts

9,257,702

9,166,620

The average agreement term during the year was 23.4 months.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Finance leases

19,617

10,135

Trade creditors

125,219

805,660

Taxation and social security

75,614

39,413

Other creditors

4,328,917

4,357,504

4,549,367

5,212,712

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Finance leases

333,586

106,810

Other creditors

3,495,392

2,994,813

3,828,978

3,101,623

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1st January 2019

1,293,871

36,845

1,330,716

Profit for the year

290,838

290,838

At 31st December 2019

1,584,709

36,845

1,621,554

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director and sole shareholder, Mr J A Harrison.