Conduit Capital Holdings Limited
Conduit Capital Holdings Limited
Registered number: 11945688
Unaudited Financial Statements
For The Year Ended
31 December 2022
Muftals Accountancy Ltd
1 Bromley Lane
Chislehurst
BR7 6LH
Conduit Capital Holdings Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Page 1
Conduit Capital Holdings Limited
Balance Sheet
As At
31 December 2022
Balance Sheet
Registered number:
11945688
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2022 | 2021 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 7 |
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NET LIABILITIES |
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CAPITAL AND RESERVES | |||||
Called up share capital | 8 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | (3,483,361) | (2,450,563) | |||
Page 1
Page 2
Conduit Capital Holdings Limited
Balance Sheet (continued)
As At
31 December 2022
On behalf of the board
Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Conduit Capital Holdings Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
Conduit Capital Holdings Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11945688
. The registered office is 6 Langley Street, London, WC2H 9JA.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The Company has net current assets of £2,829,816 (2021 - £2,829,816) with the majority of the
movement in the year resulting from an increase in amounts owed by group undertakings. The
directors have reviewed cashflow forecasts for the 12 month period from the date of sign off and
believe the Company to be a going concern.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold |
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Plant & Machinery |
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Computer Equipment |
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2.5.
Financial Instruments
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company
becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured
at initial recognition at transaction price. Debtors and creditors are subsequently measured at
amortised cost using the effective interest rate method. A provision is established when there is
objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in
hand and at bank, short-term bank deposits with an original maturity of three months or less and
bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance
with the substance of the contractual arrangements entered into and the definitions of a financial
liability and an equity instrument. An equity instrument is any contract that evidences a residual
interest in the assets of the Company after deducting all of its liabilities. Equity instruments
issued by the Company are recorded at the proceeds received, net of direct issue costs.
2.6.
Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
Conduit Capital Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2021: 6)
4.
Tangible Assets
Land & Property | ||||
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Leasehold | Plant & Machinery | Computer Equipment | Total | |
£ | £ | £ | £ | |
Cost | ||||
As at
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Depreciation | ||||
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Provided during the period |
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As at
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Net Book Value | ||||
As at
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As at
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5.
Debtors
2022 | 2021 | ||
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£ | £ | ||
Due within one year | |||
Prepayments and accrued income |
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Other debtors |
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Amounts owed by group undertakings |
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6.
Creditors: Amounts Falling Due Within One Year
2022 | 2021 | ||
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£ | £ | ||
Trade creditors |
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Other creditors |
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Accruals and deferred income |
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7.
Creditors: Amounts Falling Due After More Than One Year
2022 | 2021 | ||
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£ | £ | ||
Convertible loans |
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Directors loan account |
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Page 4
Page 5
Conduit Capital Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
8.
Share Capital
2022 | 2021 | ||
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£ | £ | ||
Allotted, Called up and fully paid |
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Page 5