St. Vincent Capital Finance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04885307 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

ST. VINCENT CAPITAL FINANCE LIMITED

Page

Company Information

1

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

S M Lees

REGISTERED OFFICE:

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

REGISTERED NUMBER:

04885307 (England and Wales)

ACCOUNTANTS:

Collards

Chartered Accountants

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

The director presents his strategic report for the year ended 31 March 2018.

REVIEW OF BUSINESS

The principal activity of the company in the year under review was that of an administrator to mezzanine partnerships. The

company had no income during the year.

The company is still dealing with the remaining mezzanine finance arrangement on its books. The recoverability of the loan from

the individual to whom the money was lent depends on the realisation of property assets to repay the capital and interest. As a result

the director has provided in full for the irrecoverability of loan interest due ot the company.

There has been no significant activity in relation to the company's main purpose during the year.

The results for the year and the financial position of the company are as shown in the annexed financial statements.

As reported last year the main trading companies within the Group entered a Creditors Voluntary Arrangement in 2011, due to the

lack of available funding. The company is in the course of raising finance with which it will then be able to continue its activities

and redevelop the business.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company are around the ability of the investment projects in which the company is

involved to raise finance to progress each particular project.

The risks and uncertainties are therefore attached to the availability of loan finance and the knock on effect of the profitability of

each project.

The director is confident that the necessary finance will be raised in order to complete the company's projects.

ON BEHALF OF THE BOARD:

S M Lees - Director

24 December 2018

CURRENT ASSETS

Debtors

3

69,738

69,738

Cash in hand

936

936

70,674

70,674

CREDITORS

Amounts falling due within one year

4

1,668,812

1,668,812

NET CURRENT LIABILITIES

(1,598,138

)

(1,598,138

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,598,138

)

(1,598,138

)

CAPITAL AND RESERVES

Called up share capital

6

10,000

10,000

Retained earnings

7

(1,608,138

)

(1,608,138

)

SHAREHOLDERS' FUNDS

(1,598,138

)

(1,598,138

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 24 December 2018 and were signed by:

S M Lees - Director

1.	STATUTORY INFORMATION

St. Vincent Capital Finance 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.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

39,738

39,738

Other debtors

30,000

30,000

69,738

69,738

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

35,000

35,000

Amounts owed to group undertakings

6,328

6,328

Other creditors

1,627,484

1,627,484

1,668,812

1,668,812

5.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due within one year or on demand:

Other loans

1,128,856

1,128,856

Other loans

498,628

498,628

1,627,484

1,627,484

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

10,000

Ordinary

£1

10,000

10,000

7.

RESERVES

Retained

earnings

£

At 1 April 2017

(1,608,138

)

Profit for the year

-

At 31 March 2018

(1,608,138

)

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

ULTIMATE PARENT COMPANY

The company is a subsidiary of St Vincent Capital Limited. The ultimate parent company is St Vincent Group Limited

(Formerly Fleet (Holdings) Limited).

10.	GOING CONCERN

The company has substantial liabilities and is relying on other group companies to fund interest payments to its loan

provider. Other companies within the Group are currently seeking refinancing following a Creditors' Voluntary

Arrangement but have indicated that they are intending to continue to support the company. The director is confident that

such finance will continue for the foreseeable future and consequently the accounts have been prepared on a going concern

basis.