Invicta Capital Partners Limited Filleted accounts for Companies House (small and micro)

Invicta Capital Partners Limited Filleted accounts for Companies House (small and micro)

INVICTA CAPITAL PARTNERS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10699398
Invicta Capital Partners Limited
Filleted Unaudited Financial Statements
31 March 2021
Invicta Capital Partners Limited
Statement of Financial Position
31 March 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
5
245
551
Current assets
Debtors
6
29,608
48,011
Cash at bank and in hand
3,528
1,912
--------
--------
33,136
49,923
Creditors: amounts falling due within one year
7
29,000
26,011
--------
--------
Net current assets
4,136
23,912
-------
--------
Total assets less current liabilities
4,381
24,463
Accruals and deferred income
1,500
1,500
-------
--------
Net assets
2,881
22,963
-------
--------
Capital and reserves
Called up share capital
50,000
205,000
Profit and loss account
( 47,119)
( 182,037)
--------
---------
Shareholders funds
2,881
22,963
--------
---------
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 statement of comprehensive income has not been delivered.
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Invicta Capital Partners Limited
Statement of Financial Position (continued)
31 March 2021
These financial statements were approved by the board of directors and authorised for issue on 18 August 2021 , and are signed on behalf of the board by:
Mr T Yusef
Director
Company registration number: 10699398
Invicta Capital Partners Limited
Notes to the Financial Statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 33 St. James's Square, London, SW1Y 4JS.
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 investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2020: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2020 and 31 March 2021
734
----
Depreciation
At 1 April 2020
183
Charge for the year
306
----
At 31 March 2021
489
----
Carrying amount
At 31 March 2021
245
----
At 31 March 2020
551
----
6. Debtors
2021
2020
£
£
Trade debtors
27,500
45,000
Other debtors
2,108
3,011
--------
--------
29,608
48,011
--------
--------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
–
13,440
Social security and other taxes
27,500
12,571
Other creditors
1,500
–
--------
--------
29,000
26,011
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr T Yusef
3,011
–
( 903)
2,108
-------
----
----
-------
2020
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr T Yusef
–
3,011
–
3,011
----
-------
----
-------