Darwin Capital Limited - Limited company accounts 20.1
Darwin Capital Limited - Limited company accounts 20.1
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTOR AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| FOR |
| DARWIN CAPITAL LIMITED |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| Page |
| Company Information | 1 |
| Report of the Director | 2 |
| Income Statement | 3 |
| Other Comprehensive Income | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| DARWIN CAPITAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 24 Bedford Row |
| London |
| WC1R 4TQ |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| The director presents his report with the financial statements of the company for the year ended 31 January 2020. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of stock monitoring consultants. |
| REVIEW OF BUSINESS |
| The result for the year and financial position of the company are as shown in the annexed financial statements. |
| DIRECTOR |
| FIXED ASSETS |
| The changes in fixed assets are given in note 7 to the financial statements. |
| TAXATION STATUS |
| The Company is a close company within the provisions of the Income and Corporation Taxes Act 2010. |
| RELATED PARTY TRANSACTIONS |
| The Director had no material interest at any time during the year in any contracts of significance in relation to the business of the Company . |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| OPERATING PROFIT/(LOSS) | 4 | ( |
) |
| Interest receivable and similar income |
| PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
| Tax on profit/(loss) | 5 | ( |
) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| PROFIT/(LOSS) FOR THE YEAR | ( |
) |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| BALANCE SHEET |
| 31 JANUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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 were approved by the director and authorised for issue on |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 February 2018 | ( |
) | ( |
) |
| Changes in equity |
| Total comprehensive income | - | ( |
) | ( |
) |
| Balance at 31 January 2019 | ( |
) | ( |
) |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 31 January 2020 |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 1. | STATUTORY INFORMATION |
| Darwin Capital Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Impairment of assets |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those asset have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. |
| Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed. |
| Deferred tax is recognised when income or expenses from an associate have been recognised, and will be assessed for tax in a future period, except where: |
| - it is probable that the timing difference will not reverse in the foreseeable future. |
| A deferred tax liability or asset is recognised for the additional tax that will be paid or avoided in respect of assets and liabilities that are recognised in a business combination. The amount attributed to goodwill is adjusted by the amount of deferred tax recognised. |
| Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
| With the exception of changes arising on the initial recognition of a business combination , the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income). |
| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax asset and deferred tax liabilities are offset only if: |
| - the company has a legally enforceable right to set off current tax assets against current tax liabilities, and |
| - the deferred tax asset and deferred tax liabilities relate to income taxes levied by the same taxation |
| authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously |
| 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 |
| 2020 | 2019 |
| £ | £ |
| Wages and salaries |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2020 | 2019 |
| 2020 | 2019 |
| £ | £ |
| Director's remuneration |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 4. | OPERATING PROFIT/(LOSS) |
| The operating profit (2019 - operating loss) is stated after charging: |
| 2020 | 2019 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TAXATION |
| Analysis of the tax charge/(credit) |
| The tax charge/(credit) on the profit for the year was as follows: |
| 2020 | 2019 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) | ( |
) |
| Tax on profit/(loss) | ( |
) |
| Reconciliation of total tax charge/(credit) included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2020 | 2019 |
| £ | £ |
| Profit/(loss) before tax | ( |
) |
| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of |
( |
) |
| Effects of: |
| Expenses not deductible for tax purposes |
| Depreciation in excess of capital allowances |
| Utilisation of tax losses | ( |
) |
| Deferred tax | (15 | ) | (89 | ) |
| Total tax charge/(credit) | 4,006 | (89 | ) |
| 6. | DIVIDENDS |
| 2020 | 2019 |
| £ | £ |
| Ordinary shares of £1 each |
| Final |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 7. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2019 |
| Additions |
| At 31 January 2020 |
| DEPRECIATION |
| At 1 February 2019 |
| Charge for year |
| At 31 January 2020 |
| NET BOOK VALUE |
| At 31 January 2020 |
| At 31 January 2019 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Cash with third party | 17 | - |
| Directors' current accounts | 5,032 | - |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Corporation tax |
| Directors' current accounts | - | 14,741 |
| Accrued expenses |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| DARWIN CAPITAL LIMITED (REGISTERED NUMBER: 05329327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2019 |
| Provided during year | ( |
) |
| Balance at 31 January 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 February 2019 | ( |
) |
| Profit for the year |
| Dividends | ( |
) |
| At 31 January 2020 |
| 13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 January 2020 and 31 January 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Interest of £123 has been charged. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |