|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018 |
|
FOR |
|
ASSETZ SME CAPITAL LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018 |
|
FOR |
|
ASSETZ SME CAPITAL LIMITED |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
ASSETZ SME CAPITAL LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 31st March 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS |
1 City Road East |
Manchester |
M15 4PN |
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
|
BALANCE SHEET |
31st March 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Share premium |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved and authorised for issue by the Board of Directors on
signed on its behalf by: |
|
|
|
|
|
|
|
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2018 |
|
|
1. | STATUTORY INFORMATION |
|
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. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Revenue related to a loan contract is recognised at the beginning of the contract to the extent of the minimum |
revenue entitlement to be contractually received by the company in relation to the loan agreement. |
|
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. |
|
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. |
|
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
|
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: |
|
Plant and machinery | - | 25% on reducing balance |
Fixture and fittings | - | 25% on reducing balance |
Computer equipment | - | 25% on cost |
|
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. |
|
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) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2018 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
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. |
|
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. |
|
Taxation |
Income tax expense represents the sum of the tax currently payable and deferred tax. |
|
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. |
|
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. |
|
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. |
|
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. |
|
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. |
|
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand, |
|
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) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2018 |
|
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st April 2017 |
|
Additions |
|
At 31st March 2018 |
|
AMORTISATION |
At 1st April 2017 |
|
Charge for year |
|
At 31st March 2018 |
|
NET BOOK VALUE |
At 31st March 2018 |
|
At 31st March 2017 |
|
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2017 |
|
|
|
|
Additions |
|
|
|
|
At 31st March 2018 |
|
|
|
|
DEPRECIATION |
At 1st April 2017 |
|
|
|
|
Charge for year |
|
|
|
|
At 31st March 2018 |
|
|
|
|
NET BOOK VALUE |
At 31st March 2018 |
|
|
|
|
At 31st March 2017 |
|
|
|
|
ASSETZ SME CAPITAL LIMITED (REGISTERED NUMBER: 08007287) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2018 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
|
|
Other creditors |
|
|
|
|
|
9. | SECURED DEBTS |
|
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. |
|
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
11. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is Assetz Capital Limited. |