Stockcape Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 11781900

STOCKCAPE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2023

STOCKCAPE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

STOCKCAPE LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	R Slabbert
	C K Batchelor

Registered office	168 Church Road
	Hove
	East Sussex
	BN3 2DL

Accountants	UHY Hacker Young
	Chartered accountants
	168 Church Road
	Hove
	BN3 2DL

STOCKCAPE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	4	426,742	426,742
Investments	5	500	–
		----------	----------
		427,242	426,742

Current assets

Debtors	6	288,965	212,342
Cash at bank and in hand		2,013	6,635
		----------	----------
		290,978	218,977

Creditors: amounts falling due within one year	7	245,108		179,035
		----------		----------
Net current assets			45,870	39,942
			----------	----------
Total assets less current liabilities			473,112	466,684

Creditors: amounts falling due after more than one year	8		323,323	323,352

Provisions	34,695	34,695
	----------	----------
Net assets	115,094	108,637
	----------	----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	115,092	108,635
	----------	----------
Shareholders funds	115,094	108,637
	----------	----------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 .

STOCKCAPE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 26 February 2024 , and are signed on behalf of the board by:

R Slabbert

Director

Company registration number: 11781900

STOCKCAPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.

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.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements have had to be made by the directors in preparing these financial statements.

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.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

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.

Investments

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

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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.

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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

4. Tangible assets

	Freehold property
	£
Cost
At 1 April 2022 and 31 March 2023	426,742
	----------
Depreciation
At 1 April 2022 and 31 March 2023	–
	----------
Carrying amount
At 31 March 2023	426,742
	----------
At 31 March 2022	426,742
	----------

5. Investments

	Other investments other than loans
	£
Cost
At 1 April 2022	–
Additions	500
	----
At 31 March 2023	500
	----
Impairment
At 1 April 2022 and 31 March 2023	–
	----

Carrying amount
At 31 March 2023	500
	----
At 31 March 2022	–
	----

6. Debtors

	2023	2022
	£	£
Other debtors	288,965	212,342
	----------	----------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	175	176
Trade creditors	1,283	–
Corporation tax	1,788	1,354
Amounts due to associated companies	802	–
Other creditors	241,060	177,505
	----------	----------
	245,108	179,035
	----------	----------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	323,323	323,352
	----------	----------

Bank loans totalling £323,498 are secured over the freehold property held in fixed assets (2022: £323,528)

9. Directors' advances, credits and guarantees

At 31 March 2023 the company owed the directors £233,838 (2022: £172,853)