ACCOUNTS - Final Accounts preparation

COTTON GINSBERG CAPITAL PARTNERS LIMITED - Company Information

Registered number: 12379917

COTTON GINSBERG CAPITAL PARTNERS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2020


COTTON GINSBERG CAPITAL PARTNERS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


COTTON GINSBERG CAPITAL PARTNERS LIMITED REGISTERED NUMBER:12379917

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2020

		2020
Note		£

Fixed assets
Tangible assets	4		65,504
Current assets
Debtors: amounts falling due within one year	5	11,640
Cash at bank and in hand		714,643
		726,283
Current liabilities
Creditors: amounts falling due within one year	6	(528,295)
Net current assets			197,988

Net assets			263,492

Capital and reserves
Called up share capital	7	100
Profit and loss account		263,392
		263,492

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2021.

Mr B Ginsberg

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


COTTON GINSBERG CAPITAL PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2020

1.	General information

Cotton Ginsberg Ltd was incorporated on 30 December 2019 and began trading on 1 January 2020.
They changed their name to Cotton Ginsberg Capital Partners Limited on 16 January 2020. It is a limited liability company registered in England and Wales. Its registered office address is at 3rd Floor 20-22 Berkeley Square, London, United Kingdom, W1J 5AE.
The principal activity of the company during the year was that of financial management.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange
rates at the dates of the transactions. At each period end foreign currency monetary items are
translated using the closing rate. Non-monetary items measured at historical cost are translated
using the exchange rate at the date of the transaction and non-monetary items measured at fair
value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the
translation at period-end exchange rates of monetary assets and liabilities denominated in foreign
currencies are recognised in the profit and loss account.

2.3

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discounts.
Turnover is recognised when the service is provided.

2.4

Pensions

The company contributes to a defined contribution pension scheme and the pension charge
represents the amounts payable by the company to the fund in respect of the year.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 2


COTTON GINSBERG CAPITAL PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
price less attributable transaction costs. Trade creditors, other creditors and loans from related
parties are recognised initially at transaction price plus attributable transaction costs. Subsequently
they are measured at amortised cost using the effective interest method, less any impairment losses
in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised
initially at the present value of future payments discounted at a maket rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.

2.8

Dividends

Equity dividends are recognised when they become legally payable.

Employees

The average monthly number of employees, including directors, during the period was 3.

Page 3


COTTON GINSBERG CAPITAL PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2020

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
Additions	60,000	7,499	67,499
At 31 December 2020	60,000	7,499	67,499
Depreciation
Charge for the period on owned assets	-	1,995	1,995
At 31 December 2020	-	1,995	1,995
Net book value
At 31 December 2020	60,000	5,504	65,504

Debtors

					2020
					£


	Prepayments and accrued income	11,640

6.	Creditors: Amounts falling due within one year
		2020
		£

	Trade creditors	4,707
	Other taxation and social security	239,766
	Other creditors	276,423
	Accruals and deferred income	7,399
		528,295

Page 4


COTTON GINSBERG CAPITAL PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2020

7.	Share capital
		2020
		£

		Allotted, called up and fully paid

		100 ordinary shares of £1 each	100

On incorporation 100 ordinary shares were issued for £1 each.

8.	Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund and amounted to £3,150.
Contributions totalling £8,400 were payable to the fund at the reporting date and are included in creditors.

9.	Related party transactions
	As at the year end, the Company owed £268,023 to the directors of the Company, included within other creditors.

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