Capital Independent Financial - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC241929 (Scotland)

Financial Statements for the Year Ended 31 March 2023

for

Capital Independent Financial

Consultants Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N D McCourt

SECRETARY:

Mrs E A McCourt

REGISTERED OFFICE:

22 Victoria Park Gardens North

Glasgow

G11 7EJ

REGISTERED NUMBER:

SC241929 (Scotland)

ACCOUNTANTS:

Graham & Co. (Accountants) Limited

76 Dumbarton Road

Clydebank

Glasgow

G81 1UG

FIXED ASSETS

Tangible assets

4

719

450

CURRENT ASSETS

Investments

5

51,520

48,787

Cash at bank

98,690

93,801

150,210

142,588

CREDITORS

Amounts falling due within one year

6

15,649

19,253

NET CURRENT ASSETS

134,561

123,335

TOTAL ASSETS LESS CURRENT LIABILITIES

135,280

123,785

PROVISIONS FOR LIABILITIES

2,780

1,705

NET ASSETS

132,500

122,080

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

132,300

121,880

SHAREHOLDERS' FUNDS

132,500

122,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 November 2023 and were signed by:

N D McCourt - Director

1.	STATUTORY INFORMATION

Capital Independent Financial Consultants Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

1,036

Additions

507

At 31 March 2023

1,543

DEPRECIATION

At 1 April 2022

586

Charge for year

238

At 31 March 2023

824

NET BOOK VALUE

At 31 March 2023

719

At 31 March 2022

450

5.	CURRENT ASSET INVESTMENTS

31.3.23

31.3.22

£

£

Listed investments

51,520

48,787

Listed investments represent an investment portfolio stated at fair value.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Taxation and social security

12,691

13,194

Other creditors

2,958

6,059

15,649

19,253

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N. McCourt.