3R Capital Ltd Filleted accounts for Companies House (small and micro)

3R CAPITAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09722444

3R Capital Ltd

Filleted Unaudited Financial Statements

31 December 2020

3R Capital Ltd

Financial Statements

Year ended 31 December 2020

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

3R Capital Ltd

Statement of Financial Position

31 December 2020

	2020	2019
Note	£	£

Fixed assets

Investments	4	338	213

Current assets

Debtors	5	400,615	288,012
Cash at bank and in hand		62,138	6,150
		---------	---------
		462,753	294,162

Creditors: amounts falling due within one year	6	178,705	93,106
		---------	---------
Net current assets		284,048	201,056
		---------	---------
Total assets less current liabilities		284,386	201,269

Creditors: amounts falling due after more than one year	7	19,000	–
		---------	---------
Net assets		265,386	201,269
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	265,286	201,169
	---------	---------
Shareholders funds	265,386	201,269
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

3R Capital Ltd

Statement of Financial Position (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 22 December 2021 , and are signed on behalf of the board by:

Mr R S Dale

Director

Company registration number: 09722444

3R Capital Ltd

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Waterloo Road, Wolverhampton, WV1 4DJ.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Income tax

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 are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2020	213
Additions	125
	---------
At 31 December 2020	338
	---------
Impairment
At 1 January 2020 and 31 December 2020	–
	---------

Carrying amount
At 31 December 2020	338
	---------
At 31 December 2019	213
	---------

5. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings	388,912	287,912
Amounts owed by related companies	11,703	–
Other debtors	–	100
	---------	---------
	400,615	288,012
	---------	---------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	1,000	–
Trade creditors	–	1,199
Amounts owed to group undertakings	5,199	–
Accruals and deferred income	2,050	1,140
Corporation tax	8,230	8,437
Director loan accounts	50,450	70,330
Other creditors	10,000	12,000
Amounts owed to related companies	101,776	–
	---------	---------
	178,705	93,106
	---------	---------

The bank loan is a covid-19 bounce back loan, which commenced October 2020. Interest is charged on this loan and repayments made after 12 months.

7. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	19,000	–
	---------	---------

The bank loan is a covid-19 bounce back loan, which commenced October 2020. Interest is charged on this loan and repayments made after 12 months.

8. Directors' advances, credits and guarantees

At the year end, the amount due from the company to the directors was as follows; Mr R Dale: £47,437 (2019: £68,330), Mr M Shore: £3,013 (2019: £2000).

9. Related party transactions

The company was under the control of Mr R S Dale throughout the current year. Mr R S Dale is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Small Entities.