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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017 |
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ASSETZ SME CAPITAL LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017 |
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FOR |
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ASSETZ SME CAPITAL LIMITED |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ASSETZ SME CAPITAL LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31st March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 City Road East |
Manchester |
M15 4PN |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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BALANCE SHEET |
31st March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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BALANCE SHEET - continued |
31st March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
and were signed on its behalf by: |
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ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2017 |
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1. | STATUTORY INFORMATION |
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Assetz Capital Limited is a private company limited by share capital, incorporated in England and Wales, |
registration number 08007191. The address of the registered office and principal place of business is Assetz |
House, Manchester Green, 335 Styal Road, Manchester, M22 5LW. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year that the company has presented its results under FRS 102. The last financial Statements |
under UK GAAP were prepared for the year ended 31 March 2016. The date of transition to FRS 102 was 1 April |
2015. There are no transitional adjustments arising from the first time adoption of FRS 102 |
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Related party exemption |
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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Development costs |
Development costs is stated at cost less accumulated depreciation. It is amortised over its estimated life of five |
years using the straight-line method. |
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Website development |
Website development costs is stated at cost less accumulated depreciation. It is amortised over its estimated |
life of five years using the straight-line method. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their |
estimated useful lives, using the following methods: |
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Plant and machinery | - | 25% on reducing balance |
Computer equipment | - | 25% on cost |
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At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, |
the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the |
recoverable amount of the cash-generating unit to which the asset belongs. |
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If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of |
the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans |
to related parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
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Taxation |
Income tax expense represents the sum of the tax currently payable and deferred tax. |
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in |
the statement of comprehensive income because of items of income or expense that are taxable or deductible |
in other years and items that are never taxable or deductible. The Company's liability for current tax is |
calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
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Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in |
which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or |
substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets |
reflects the tax consequences that would follow from the manner in which the Company expects, at the end of |
the reporting period, to recover or settle the carrying amount of its assets and liabilities. |
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Current or deferred tax for the year is recognised in the profit and loss, except where they relate to items that |
are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax |
is also recognised in other comprehensive income or directly in equity respectively. |
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Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for |
bad and doubtful debts. |
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Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method unless the effect of discounting would be immaterial, in which case they are stated at |
cost. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other |
short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the |
statement of financial position, bank overdrafts are shown within borrowings or current liabilities. |
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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. |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st April 2016 |
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Additions |
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At 31st March 2017 |
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AMORTISATION |
At 1st April 2016 |
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Charge for year |
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At 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1st April 2016 |
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Additions |
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At 31st March 2017 |
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DEPRECIATION |
At 1st April 2016 |
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Charge for year |
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At 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The company has issued charges over freehold and leasehold property of the company and the intellectual |
property of the company under deeds dated, 6 February 2015, 23 January 2015, 3 October 2014, 23 July 2014, |
16 June 2014 and 27 May 2014. |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Assetz Capital Limited. |