Capital 21 Limited Filleted accounts for Companies House (small and micro)

CAPITAL 21 LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04354561

Capital 21 Limited

Filleted Unaudited Financial Statements

31 January 2024

Capital 21 Limited

Statement of Financial Position

31 January 2024

	2024	2023
Note	£	£

Current assets

Debtors	4	4,387	5,306
Cash at bank and in hand		46	67
		-------	-------
		4,433	5,373

Creditors: amounts falling due within one year	5	1,043	966
		-------	-------
Net current assets		3,390	4,407
		-------	-------
Total assets less current liabilities		3,390	4,407

Creditors: amounts falling due after more than one year	6	2,888	3,383
		-------	-------
Net assets		502	1,024
		-------	-------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 498)	24
	-------	-------
Shareholders funds	502	1,024
	-------	-------

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 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Capital 21 Limited

Statement of Financial Position (continued)

31 January 2024

These financial statements were approved by the board of directors and authorised for issue on 14 May 2024 , and are signed on behalf of the board by:

Mr P Savic
Director

Company registration number: 04354561

Capital 21 Limited

Notes to the Financial Statements

Year ended 31 January 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18/19 Salmon Fields Business Village, Salmon Fields, Royton, OL2 6HT.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2024	2023
	£	£
Trade debtors	3	172
Other debtors	4,384	5,134
	-------	-------
	4,387	5,306
	-------	-------

The directors loan account was overdrawn £4,272 (2023: £5,084) at the year end. The maximum overdrawn amount during the year was £5,084 (2023: £7,060). Interest is charged at the official rate of interest on all balances exceeding £10,000.

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	495	483
Trade creditors	145	60
Corporation tax	3	3
Social security and other taxes	–	20
Other creditors	400	400
	-------	----
	1,043	966
	-------	----

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

	2024	2023
	£	£
Bank loans and overdrafts	2,888	3,383
	-------	-------

7. Director's advances, credits and guarantees

Included within debtors due within one year is a loan to the director totalling £4,272 (2023: £5,084) on which no interest is being charged. The loan is repayable in full or in part on demand. Dividends totalling £nil (2023: £1,950) were paid in the year in respect of shares held by the company's director.

8. Related party transactions

The company was under the control of Mr Peter Savic throughout the current year. Mr Peter Savic is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.