Creditas Capital Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07381541

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2022

FOR

CREDITAS CAPITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

L A Jones

A M Jones

REGISTERED OFFICE:

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

REGISTERED NUMBER:

07381541

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Tangible assets

4

375

Investments

5

10,103

10,478

CURRENT ASSETS

Debtors

6

612,486

CREDITORS

Amounts falling due within one year

7

188,304

NET CURRENT ASSETS

424,182

TOTAL ASSETS LESS CURRENT
LIABILITIES

434,660

CAPITAL AND RESERVES

Called up share capital

8

50,000

Retained earnings

384,660

SHAREHOLDERS' FUNDS

434,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 August 2023 and were signed on its behalf by:

L A Jones - Director

A M Jones - Director

1.	STATUTORY INFORMATION

Creditas Capital Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 31 December 2021

and 30 December 2022

37,500

DEPRECIATION

At 31 December 2021

and 30 December 2022

37,125

NET BOOK VALUE

At 30 December 2022

375

At 30 December 2021

375

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 31 December 2021

and 30 December 2022

10,103

NET BOOK VALUE

At 30 December 2022

10,103

At 30 December 2021

10,103

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.22

30.12.21

£

Amounts owed by group undertakings

606,282

Directors' current accounts

6,166

VAT

38

612,486

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.22

30.12.21

£

Amounts owed to group undertakings

176,401

Other creditors

10,103

Accrued expenses

1,800

188,304

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.12.22

30.12.21

value:

£

50,000

Ordinary shares

.25

50,000

9.	RELATED PARTY DISCLOSURES

During the year the company continued to provide an interest-free , unsecured loan to the director Mr Lee Jones, which is repayable on demand. At the balance sheet date the amount due from Mr Lee Jones was £6,166 (2021 £6,167)

The company has been provided with an interest-free, unsecured loan from its subsidiary Neutrino Networks Limited. At the balance sheet date, the amount due to Neutrino Networks Limited was £176,401 (2021 £176,401).

The company has made an interest-free unsecured loan to its subsidiary Zaro Equestrian Limited. At the balance sheet date , the amount due from Zaro Equestrian Limited was £563,242 (2021 £563,242)

The company has made an interest-free unsecured loan to its subsidiary RFD Network Limited. At the balance sheet date , the amount due from RFD Network Limited was £10,000 (2021 £10,000).

The company has made an interest-free unsecured loan to its subsidiary Ambient FM Limited. At the balance sheet date, the amount due from Ambient FM Limited was £33,040 (2021 £33,040).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is L A Jones.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Creditas Capital Limited for the year ended 30 December 2022 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Creditas Capital Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Creditas Capital Limited and state those matters that we have agreed to state to the Board of Directors of Creditas Capital Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Creditas Capital Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Creditas Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Creditas Capital Limited. You consider that Creditas Capital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Creditas Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

31 August 2023

Creditas Capital Limited - Accounts to registrar (filleted) - small 23.1.2

Creditas Capital Limited - Accounts to registrar (filleted) - small 23.1.2