Bute Capital Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06804158 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2017

for

BUTE CAPITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Harrison

REGISTERED OFFICE:

PO Box 687

Weybridge

Surrey

KT13 3GG

REGISTERED NUMBER:

06804158 (England and Wales)

ACCOUNTANTS:

Graham Martin & Co

Accountants

89 Leigh Road

Eastleigh

Hampshire

SO50 9DQ

FIXED ASSETS

Intangible assets

4

25

51

Tangible assets

5

14,698

19,200

Investments

6

-

9,000

14,723

28,251

CURRENT ASSETS

Debtors

7

6,565,639

4,764,417

Cash at bank and in hand

356,563

114,435

6,922,202

4,878,852

CREDITORS

Amounts falling due within one year

8

3,649,422

2,652,293

NET CURRENT ASSETS

3,272,780

2,226,559

TOTAL ASSETS LESS CURRENT LIABILITIES

3,287,503

2,254,810

CREDITORS

Amounts falling due after more than one year

9

(2,240,918

)

(1,595,247

)

PROVISIONS FOR LIABILITIES

(116,255

)

(58,507

)

NET ASSETS

930,330

601,056

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

36,845

36,845

Retained earnings

892,485

563,211

SHAREHOLDERS' FUNDS

930,330

601,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24th August 2018 and were signed by:

J A Harrison - Director

1.	STATUTORY INFORMATION

Bute Capital Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Lease finance income:-

Equipment leasing income is recognised on a systematic and rational basis and is calculated as a constant

periodic return on the lessor's net investment.

Loan finance income:-

Loans advanced are included within debtors. Loan repayments are apportioned between the financial element,

which is charged to the profit and loss account, and the capital element, which reduces the outstanding obligation

for future instalments, so as to give a constant rate of charge on the outstanding obligation.

Domain registration costs

Amortisation is provided to write off the domain registration costs over their expected useful life of 10 years.

Website and branding costs

Amortisation is provided to write off the website and branding costs over their expected useful life of 3 years.

Tangible fixed assets

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

Furniture & Equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

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 5 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Website

Domain

and

registration

branding

Totals

£

£

£

COST

At 1st January 2017

and 31st December 2017

259

3,550

3,809

AMORTISATION

At 1st January 2017

208

3,550

3,758

Amortisation for year

26

-

26

At 31st December 2017

234

3,550

3,784

NET BOOK VALUE

At 31st December 2017

25

-

25

At 31st December 2016

51

-

51

5.	TANGIBLE FIXED ASSETS

Furniture

Computer

& Equipment

equipment

Totals

£

£

£

COST

At 1st January 2017

and 31st December 2017

39,367

5,515

44,882

DEPRECIATION

At 1st January 2017

22,373

3,309

25,682

Charge for year

3,399

1,103

4,502

At 31st December 2017

25,772

4,412

30,184

NET BOOK VALUE

At 31st December 2017

13,595

1,103

14,698

At 31st December 2016

16,994

2,206

19,200

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2017

9,000

Disposals

(9,000

)

At 31st December 2017

-

NET BOOK VALUE

At 31st December 2017

-

At 31st December 2016

9,000

7.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

21,113

17,531

Loan finance debtors

134,656

64,653

Lease finance debtors

2,157,552

1,734,961

Other debtors

5,913

25,038

VAT

32,944

21,314

Prepayments

203,853

184,597

2,556,031

2,048,094

Amounts falling due after more than one year:

Lease finance debtors

3,554,079

2,651,224

Loan finance debtors

455,529

65,099

4,009,608

2,716,323

Aggregate amounts

6,565,639

4,764,417

The average agreement term during the year was 23.4 months.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

3,070

9,585

Finance leases

26,766

20,213

Trade creditors

550,454

334,941

Taxation and social security

22,644

39,311

Other creditors

3,046,488

2,248,243

3,649,422

2,652,293

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Finance leases

233,123

172,565

Other creditors

2,007,795

1,422,682

2,240,918

1,595,247

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director and sole shareholder, Mr J A Harrison.