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COMPANY REGISTRATION NUMBER:
10491914
Intercapital Ventures Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
Intercapital Ventures Limited |
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Intercapital Ventures Limited |
|
Period from 1 December 2017 to 31 May 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Intercapital Ventures Limited for the period ended 31 May 2019, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Intercapital Ventures Limited in accordance with the terms of our engagement letter dated 1 August 2018. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Intercapital Ventures Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Intercapital Ventures Limited and its director for our work or for this report.
It is your duty to ensure that Intercapital Ventures Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Intercapital Ventures Limited. You consider that Intercapital Ventures Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the abridged financial statements of Intercapital Ventures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
CAS
Chartered accountants
151 Askew Road
London
W12 9AU
27 March 2020
Intercapital Ventures Limited |
|
Abridged Statement of Financial Position |
|
31 May 2019
|
31 May 19 |
30 Nov 17 |
Note |
£ |
£ |
|
|
|
Current assets
Cash at bank and in hand |
2,378 |
2,487 |
|
|
|
Creditors: amounts falling due within one year |
48,638 |
24,380 |
|
-------- |
-------- |
Net current liabilities |
46,260 |
21,893 |
|
-------- |
-------- |
Total assets less current liabilities |
(
46,260) |
(
21,893) |
|
-------- |
-------- |
Net liabilities |
(
46,260) |
(
21,893) |
|
-------- |
-------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
46,360) |
(
21,993) |
|
-------- |
-------- |
Shareholders deficit |
(
46,260) |
(
21,893) |
|
-------- |
-------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 31 May 2019 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
27 March 2020
, and are signed on behalf of the board by:
Company registration number:
10491914
Intercapital Ventures Limited |
|
Notes to the Abridged Financial Statements |
|
Period from 1 December 2017 to 31 May 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 7 170a Trinity Court Gloucester Terrace, London, W2 6HN.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Director's advances, credits and guarantees
At the year end the company owed the director £47,900 (2017 :£23,900).
5.
Related party transactions
No dividends were paid to the director.(2017: nil)