First Capital Corporation Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03881209 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

FIRST CAPITAL CORPORATION LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Purcell

P C Hartland-Swann

H Moore

REGISTERED OFFICE:

4F No 1 Farriers Yard

77 - 85 Fulham Palace Road

London

W6 8JA

REGISTERED NUMBER:

03881209 (England and Wales)

ACCOUNTANTS:

ADDICUS

Chartered Accountants

1 Winchester Place

North Street

Poole

Dorset

BH15 1NX

FIXED ASSETS

Tangible assets

2

5,041

5,688

Investments

3

221,638

87,925

226,679

93,613

CURRENT ASSETS

Debtors

551,181

933,575

Cash at bank and in hand

196,379

28,377

747,560

961,952

CREDITORS

Amounts falling due within one year

140,118

277,063

NET CURRENT ASSETS

607,442

684,889

TOTAL ASSETS LESS CURRENT
LIABILITIES

834,121

778,502

CREDITORS

Amounts falling due after more than one
year

-

(23,000

)

PROVISIONS FOR LIABILITIES

(265

)

(231

)

NET ASSETS

833,856

755,271

CAPITAL AND RESERVES

Called up share capital

4

131,125

Share premium

423,286

Profit and loss account

279,445

200,860

SHAREHOLDERS' FUNDS

833,856

755,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 May 2016 and were signed on its
behalf by:

J Purcell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, and on a going

concern basis.

Turnover

Turnover represents amounts receivable in the year of cash and equities for work undertaken by the

company during the year, excluding value added tax.

Tangible fixed assets

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

Short leasehold

-

20% on cost

Plant and machinery

-

Straight line over 3 years

Fixtures and fittings

-

Straight line over 5 years

Deferred tax

Deferred tax is provided in full in respect of all timing differences that have originated but not reversed

at the balance sheet date. Deferred tax assets are not recognised to the extent that the transfer of

economic benefit in the future is uncertain. Any assets and liabilities recognised have not been

discounted.

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.

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 the profit and loss account in the period to which they

relate.

Fixed asset investments

Investments are held at cost, unless a provision for any impairment is required.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

157,112

Additions

4,307

At 31 March 2016

161,419

DEPRECIATION

At 1 April 2015

151,424

Charge for year

4,954

At 31 March 2016

156,378

NET BOOK VALUE

At 31 March 2016

5,041

At 31 March 2015

5,688

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 April 2015

87,925

Additions

133,713

At 31 March 2016

221,638

NET BOOK VALUE

At 31 March 2016

221,638

At 31 March 2015

87,925

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

First Ventures Limited

Nature of business: Venture capital investment

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

9,518

35,342

Profit/(loss) for the year

3,676

(28,320

)

4.	CALLED UP SHARE CAPITAL

Share Options

At 31 March 2016, employees and advisors held options over new shares as shown below:

1,000 exercisable by 14/10/2016 at £15 each

6,000 exercisable by 04/03/2023 at £15 each