Comhar Capital (1804) Limited Filleted accounts for Companies House (small and micro)

COMHAR CAPITAL (1804) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12357832

Comhar Capital (1804) Limited

Filleted financial statements

31 March 2022

Comhar Capital (1804) Limited

Statement of financial position

31 March 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Investments	5		5,612,634		5,506,691

Current assets

Debtors	6	149,366		88,282

Creditors: amounts falling due within one year	7	( 8,794)		( 6,293)
		---------		-------
Net current assets			140,572		81,989
			-----------		-----------
Total assets less current liabilities			5,753,206		5,588,680
			-----------		-----------
Net assets			5,753,206		5,588,680
			-----------		-----------

Capital and reserves

Called up share capital	8	1,266	1,266
Share premium account		5,503,734	5,503,734
Fair value reserve		92,553	–
Profit and loss account		155,653	83,680
		-----------	-----------
Shareholders' funds		5,753,206	5,588,680
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 16 December 2022 , and are signed on behalf of the board by:

Mr C Wilkinson

Director

Company registration number: 12357832

Comhar Capital (1804) Limited

Notes to the financial statements

year ended 31 March 2022

1. General information

The principal activity during the period was the provision of consulting and strategic business advisory services and an investment company . The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stonebridge Offices Park House, Park Square West, Leeds, LS1 2PW, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity .

Going concern

The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In arriving at this conclusion, the directors have given due consideration to the impact of the inflationary and cost of living pressures on future operations and the ability of the company to continue to operate as a going concern.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However the nature of estimation means the actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments represent a portfolio of investments and are initially recognised at cost. As the investments are held with a view to value appreciation, they are subsequently stated at fair value in accordance with the requirements of FRS 102, with valuation changes recognised in the profit and loss account.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Investments

	Interest in group undertakings
	£

Cost
At 1 April 2021	5,506,691
Additions	13,391
Gain on revaluation of investments	92,552
	-----------
At 31 March 2022	5,612,634
	-----------
Impairment
At 1 April 2021 and 31 March 2022	–
	-----------

Carrying amount
At 31 March 2022	5,612,634
	-----------
At 31 March 2021	5,506,691
	-----------

Interest in group undertakings relates to the company ownership in The Lakes Distillery Company plc.

6. Debtors

	2022	2021
	£	£

Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	39,218
Other debtors	149,366	49,064
	---------	-------
	149,366	88,282
	---------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£

Trade creditors	–	4,793
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7,294	–
Other creditors	1,500	1,500
	------	------
	8,794	6,293
	------	------

8. Called up share capital

Issued, called up and fully paid

2022		2021
No.	£	No.	£

Ordinary A shares of £ 0.00001 each	112,487,856	1,125	112,487,856	1,125
Ordinary B shares of £ 0.00001 each	1,136,241	11	1,136,241	11
Ordinary C shares of £ 0.00001 each	12,952,941	130	12,952,941	130
	-------------	------	-------------	------
	126,577,038	1,266	126,577,038	1,266
	-------------	------	-------------	------

9. Summary audit opinion

The auditor's report for the year dated 19 December 2022 was unqualified .

The senior statutory auditor was Andrew Shaw , for and on behalf of Sagars Accountants Ltd .