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

REGISTERED NUMBER: 09768566 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

FAF CAPITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S C Jones

Mr M C Vodden

Mr P Sherrington

REGISTERED OFFICE:

Capital Tower

91 Waterloo Road

London

SE1 8RT

REGISTERED NUMBER:

09768566 (England and Wales)

ACCOUNTANTS:

TBW Accountancy Limited

E3 The Premier Centre

Abbey Park

Romsey

Hampshire

SO51 9DG

FIXED ASSETS

Tangible assets

4

615,867

547,943

CURRENT ASSETS

Debtors

5

455,181

112,331

Prepayments and accrued income

4,827

-

Cash at bank

569,161

5,683

1,029,169

118,014

CREDITORS

Amounts falling due within one year

6

1,584,149

671,837

NET CURRENT LIABILITIES

(554,980

)

(553,823

)

TOTAL ASSETS LESS CURRENT LIABILITIES

60,887

(5,880

)

CREDITORS

Amounts falling due after more than one year

7

(20,775

)

-

PROVISIONS FOR LIABILITIES

(18,051

)

-

NET ASSETS/(LIABILITIES)

22,061

(5,880

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

22,060

(5,881

)

22,061

(5,880

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2020 and were signed on its behalf by:

Mr S C Jones - Director

1.	STATUTORY INFORMATION

Faf 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 represents net invoiced sale of goods, fees and commissions earned, and interest receivable from

finance leases and loans, excluding value added tax where applicable.

Fees and commissions are earned from services provided to clients. Fees and commissions earned on completion

of a transaction is recognised when the event occurs. Fees and commissions that are provided over a period of

time are recognised over the period in which the service is provided.

Tangible fixed assets

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

Plant and machinery

-

at varying rates 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.

Lease and hire purchase receivables

Assets leased to customers under agreements which transfer substantially all the risks and rewards of ownership,

other than legal title, are classified as finance leases. Gross earnings receivable under finance leases are

allocated to accounting periods using the net investment method to give a constant periodic rate of return on the

company's net cash investment and are included in turnover. Finance lease receivable represent the company's

net investment in the leases.

All other leases are classified as operating leases. Rentals receivable under operating leases are recognised on a

straight line basis and are included in other operating income. Assets held for the purpose of operating leases are

capitalised and depreciated over the period of the lease.

Interest receivable from hire purchase agreements is recognised using the effective interest rate method, using the

rate as stated in the terms of the agreement, adjusted for any premiums, discounts as well as fees and charges

associated with the agreement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 October 2018

547,943

Additions

983,101

Disposals

(815,000

)

At 30 September 2019

716,044

DEPRECIATION

Charge for year

201,599

Eliminated on disposal

(101,422

)

At 30 September 2019

100,177

NET BOOK VALUE

At 30 September 2019

615,867

At 30 September 2018

547,943

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

11,663

-

Amounts owed by group undertakings

1,929

110,768

Amounts receivable in respect of hire purchase contracts

49,738

-

Other debtors

242,638

-

Corporation tax

-

1,562

Called up share capital not paid

-

1

305,968

112,331

2019

2018

£

£

Amounts falling due after more than one year:

Amounts receivable in respect of hire purchase contracts

149,213

-

Aggregate amounts

455,181

112,331

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

20

70

Amounts owed to group undertakings

1,274,539

665,245

VAT

167,473

862

Accruals and deferred income

142,117

5,660

1,584,149

671,837

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Accruals and deferred income

20,775

-

8.	ULTIMATE CONTROLLING PARTY

At the year end the parent undertaking of the smallest and the largest group of undertakings for which group

financial statements are drawn up and of which the company is a member is FAF Holdings Limited, with

registered office at Capital Tower, 91 Waterloo Road, London, SE1 8RT.

Copies of the group financial statements of FAF Holdings Limited are available at Companies House, Crown

Way, Cardiff, CF14 3UZ.