Private Equity Limited - Accounts to registrar (filleted) - small 23.1.2
Private Equity Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
| FOR |
| PRIVATE EQUITY LIMITED |
| PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| PRIVATE EQUITY LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 December 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4th Floor |
| Venture House |
| 27-29 Glasshouse Street |
| London |
| W1B 5DF |
| PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488) |
| STATEMENT OF FINANCIAL POSITION |
| 31 December 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium | 9 |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| Private Equity Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Private Equity Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
| Taxation |
| Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. |
| Current or deferred taxation assets and liabilities are not discounted. |
| a) Current tax |
| Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. |
| Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. |
| b) Deferred tax |
| Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2022 |
| and 31 December 2022 |
| PROVISIONS |
| At 1 January 2022 | 250,152 |
| Reversal of impairments | (100,000 | ) |
| At 31 December 2022 | 150,152 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
| Subsidiary |
| Registered office: 4th Floor, Venture House, 27/29 Glasshouse Street, London, W1B 5DF |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2022 | 2021 |
| £ | £ |
| Aggregate capital and reserves |
| (Loss)/profit for the year | ( |
) |
| Associated company |
| Registered office: Unit G Aisecome Way, Weston-Super-Mare, Avon, BS22 8NA |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Loss for the year | ( |
) | ( |
) |
| The shares are held by Albemarle Venture Partner Limited and the last available accounts for the company were for the year ended 31 December 2021. |
| PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed by group undertakings |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed to group undertakings |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 66,000 | 80,000 |
| (2021 - 80,000 ) |
| On 14 March 2022 by way of a special resolution the company purchased 14,000 ordinary shares for a total consideration of £151,830 and these shares were cancelled on the same day. |
| The company's share capital after the above transaction is 66,000 ordinary shares of £1 each. |
| 9. | RESERVES |
| Capital |
| Retained | Share | redemption |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2022 | 820,521 |
| Profit for the year |
| Purchase of own shares | (152,595 | ) | (21,000 | ) | 35,000 | (138,595 | ) |
| At 31 December 2022 | 933,756 |
| 10. | RELATED PARTY DISCLOSURES |
| Albermarle Venture Partner Limited is a subsidiary undertaking of the company. At 31 December 2022, the company owed £244 to Albermarle Venture Partner Limited. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is the director D J Wills. |