Tide Capital Markets Ltd Filleted accounts for Companies House (small and micro)

TIDE CAPITAL MARKETS LTD - Company Information

2 false false false false false false false false false true false false false false false false No description of principal activity 2021-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 152,662 15,841 36,109 132,394 132,394 152,662 3,189 1,252 4,441 522 1,064 1,586 2,855 2,667 95,980 33,611 303 129,894 5,246 4,388 858 129,036 90,734 xbrli:pure xbrli:shares iso4217:GBP 07974917 2021-07-01 2022-06-30 07974917 2022-06-30 07974917 2021-06-30 07974917 2020-07-01 2021-06-30 07974917 2021-06-30 07974917 bus:RegisteredOffice 2021-07-01 2022-06-30 07974917 bus:LeadAgentIfApplicable 2021-07-01 2022-06-30 07974917 bus:Director1 2021-07-01 2022-06-30 07974917 bus:Director2 2021-07-01 2022-06-30 07974917 core:WithinOneYear 2022-06-30 07974917 core:WithinOneYear 2021-06-30 07974917 core:ShareCapital 2022-06-30 07974917 core:ShareCapital 2021-06-30 07974917 core:RetainedEarningsAccumulatedLosses 2022-06-30 07974917 core:RetainedEarningsAccumulatedLosses 2021-06-30 07974917 core:BetweenOneFiveYears 2021-06-30 07974917 core:CostValuation core:Non-currentFinancialInstruments 2021-06-30 07974917 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-06-30 07974917 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2022-06-30 07974917 core:CostValuation core:Non-currentFinancialInstruments 2022-06-30 07974917 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2021-06-30 07974917 core:ImpairmentReversalProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2022-06-30 07974917 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-06-30 07974917 core:Non-currentFinancialInstruments 2022-06-30 07974917 core:Non-currentFinancialInstruments 2021-06-30 07974917 bus:SmallEntities 2021-07-01 2022-06-30 07974917 bus:AuditExemptWithAccountantsReport 2021-07-01 2022-06-30 07974917 bus:FullAccounts 2021-07-01 2022-06-30 07974917 bus:SmallCompaniesRegimeForAccounts 2021-07-01 2022-06-30 07974917 bus:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 07974917 core:ComputerEquipment 2021-07-01 2022-06-30 07974917 core:IntangibleAssetsOtherThanGoodwill 2021-06-30 07974917 core:IntangibleAssetsOtherThanGoodwill 2021-07-01 2022-06-30 07974917 core:IntangibleAssetsOtherThanGoodwill 2022-06-30 07974917 core:ComputerEquipment 2021-06-30 07974917 core:ComputerEquipment 2022-06-30 07974917 core:CommunicationNetworkEquipment 2022-06-30

COMPANY REGISTRATION NUMBER: 07974917

Tide Capital Markets Ltd

Filleted Unaudited Financial Statements

30 June 2022

Tide Capital Markets Ltd

Financial Statements

Year ended 30 June 2022

Contents	Page

Directors' report	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Tide Capital Markets Ltd

Directors' Report

Year ended 30 June 2022

The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2022 .

Directors

The directors who served the company during the year were as follows:

Mr C Ninzoli
Mr M Underhill

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 24 March 2023 and signed on behalf of the board by:

Mr M Underhill

Director

Registered office:

30 Great Pulteney Street

London

W1F 9NN

Tide Capital Markets Ltd

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Tide Capital Markets Ltd

Year ended 30 June 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tide Capital Markets Ltd for the year ended 30 June 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

BAILHACHE LINTON LLP Accountants

Bourne House 475 Godstone Road Whyteleafe Surrey CR3 0BL

24 March 2023

Tide Capital Markets Ltd

Statement of Financial Position

30 June 2022

	2022		2021
Note	£	£	£

Fixed assets

Intangible assets	5	132,394	152,662
Tangible assets	6	2,855	2,667
Investments	7	129,036	90,734
		---------	---------
		264,285	246,063

Current assets

Debtors	8	2,858,023	1,406,832
Cash at bank and in hand		744,856	1,599,975
		------------	------------
		3,602,879	3,006,807

Creditors: amounts falling due within one year	9	372,499		259,937
		------------		------------
Net current assets			3,230,380	2,746,870
			------------	------------
Total assets less current liabilities			3,494,665	2,992,933

Provisions	542	481
	------------	------------
Net assets	3,494,123	2,992,452
	------------	------------

Capital and reserves

Called up share capital	100,000	100,000
Profit and loss account	3,394,123	2,892,452
	------------	------------
Shareholders funds	3,494,123	2,992,452
	------------	------------

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 30 June 2022 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 .

Tide Capital Markets Ltd

Statement of Financial Position (continued)

30 June 2022

These financial statements were approved by the board of directors and authorised for issue on 24 March 2023 , and are signed on behalf of the board by:

Mr M Underhill

Director

Company registration number: 07974917

Tide Capital Markets Ltd

Notes to the Financial Statements

Year ended 30 June 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Great Pulteney Street, London, W1F 9NN.

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.

Investments

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

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.

Turnover

Turnover represents the share of profits from its partnership interest during the year and derives from the provision of services falling within the company's ordinary activities.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Computer Equipment	-	25% straight line

Investments

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

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Intangible assets

	Crypto Currency - Investment
	£
Cost
At 1 July 2021	152,662
Additions	15,841
Revaluations	( 36,109)
	---------
At 30 June 2022	132,394
	---------
Amortisation
At 1 July 2021 and 30 June 2022	–
	---------
Carrying amount
At 30 June 2022	132,394
	---------
At 30 June 2021	152,662
	---------

6. Tangible assets

	Computer equipment
	£
Cost
At 1 July 2021	3,189
Additions	1,252
	-------
At 30 June 2022	4,441
	-------
Depreciation
At 1 July 2021	522
Charge for the year	1,064
	-------
At 30 June 2022	1,586
	-------
Carrying amount
At 30 June 2022	2,855
	-------
At 30 June 2021	2,667
	-------

7. Investments

	Investments in group undertakings and other investments
	£
Cost
At 1 July 2021	95,980
Additions	33,611
Other movements	303
	---------
At 30 June 2022	129,894
	---------
Impairment
At 1 July 2021	5,246
Reversal of impairment losses	( 4,388)
	---------
At 30 June 2022	858
	---------

Carrying amount
At 30 June 2022	129,036
	---------
At 30 June 2021	90,734
	---------

8. Debtors

	2022	2021
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,852,925	1,406,832
Other debtors	5,098	–
	------------	------------
	2,858,023	1,406,832
	------------	------------

9. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	259,409	222,203
Social security and other taxes	–	663
Other creditors	113,090	37,071
	---------	---------
	372,499	259,937
	---------	---------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2022	2021
	£	£
Not later than 1 year	1,404	5,616
Later than 1 year and not later than 5 years	–	1,404
	-------	-------
	1,404	7,020
	-------	-------

11. Related party transactions

During the year the company received income from, and met costs on behalf of, a subsidiary undertaking. The total amount due to the company at the year end is £2,852,925 (2021: £1,406,832) from subsidiary undertakings.