2b Capital Ltd - Accounts to registrar (filleted) - small 18.2

2b Capital Ltd - Accounts to registrar (filleted) - small 18.2

2B CAPITAL LTD - Company Information

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REGISTERED NUMBER: 10782624 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2019

for

2B CAPITAL LTD
Vistra Accounting Services
First Floor, Templeback
10 Temple back
Bristol
BS1 6FL








2B CAPITAL LTD (REGISTERED NUMBER: 10782624)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


2B CAPITAL LTD

Company Information
for the Year Ended 31 December 2019







DIRECTOR: Mr G de Boissard





SECRETARY: Vistra Company Secretaries Limited





REGISTERED OFFICE: 25 Stratford Road
London
W8 6RA





REGISTERED NUMBER: 10782624 (England and Wales)





ACCOUNTANTS: Vistra Accounting Services
First Floor, Templeback
10 Temple back
Bristol
BS1 6FL
Page 1
2B CAPITAL LTD (REGISTERED NUMBER: 10782624)

Balance Sheet
31 December 2019

31/12/19 31/12/18
Notes £    £   
FIXED ASSETS
Investments 4 10,220,003 8,143,449

CURRENT ASSETS
Debtors 5 264 253
Cash at bank 13,749 41,741
14,013 41,994
CREDITORS
Amounts falling due within one year 6 (158,086 ) (131,128 )
NET CURRENT LIABILITIES (144,073 ) (89,134 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,075,930
8,054,315

CREDITORS
Amounts falling due after more than one year 7 (9,000,000 ) (7,481,041 )
NET ASSETS 1,075,930 573,274

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 1,045,930 543,274
1,075,930 573,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 notes form part of these financial statements

Page 2
2B CAPITAL LTD (REGISTERED NUMBER: 10782624)

Balance Sheet - continued
31 December 2019


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 director and authorised for issue on 30 July 2020 and were signed by:





Mr G de Boissard - Director


The notes form part of these financial statements

Page 3
2B CAPITAL LTD (REGISTERED NUMBER: 10782624)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

2b Capital Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is derived from the loan agreement in place regarding the commitment fee.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other
Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is
a legally 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at
transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or
less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction
price.

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.


Page 4
2B CAPITAL LTD (REGISTERED NUMBER: 10782624)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

2. ACCOUNTING POLICIES - continued
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.

Investments
Investments relate to loan agreements entered into with regulated FCA companies. The investments are recorded
at market value.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

31/12/19 31/12/18
£    £   
Other investments not loans 500,000 500,000
Other loans 9,720,003 7,643,449
10,220,003 8,143,449

Additional information is as follows:
Other
investments
£   
COST
At 1 January 2019
and 31 December 2019 500,000
NET BOOK VALUE
At 31 December 2019 500,000
At 31 December 2018 500,000
Other
loans
£   
At 1 January 2019 7,643,449
New in year 2,076,554
At 31 December 2019 9,720,003

Page 5
2B CAPITAL LTD (REGISTERED NUMBER: 10782624)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

4. FIXED ASSET INVESTMENTS - continued

Included within fixed assets is the investment with Lendable, a company which is regulated by the FCA. Lenadble
is a lending company which enters into regulated consumer credit agreements. Lendable Ltd funds each consumer
loan by issuing one whole loan note or several notes to qualified investors. Each note entitles the holder to receive
a share of repayments on the corresponding consumer loan. An investor on the platform will build a diversified
portfolio of notes over time, each one making monthly repayments of interest.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/19 31/12/18
£    £   
Prepayments 264 253

Other debtors are unsecured, interest free and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/19 31/12/18
£    £   
Amounts owed to group (1 ) -
Tax 105,458 127,551
Directors' current accounts 9,450 2,137
Accrued expenses 43,179 1,440
158,086 131,128

The Directors' current account is unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/19 31/12/18
£    £   
Amounts owed to group 9,000,000 7,481,041

Long term loans are repayable within 5 years, are secured and attract interest at 2.5%.

31/12/1831/12/17
£ £
Brought forward7,481,041 2,008,356
Addition4,514,3825,481,622
Repayment (3,185,420)(128,996)
Accrued interest 189,997 120,059
Carried forward9,000,000 7,481,041

8. RELATED PARTY DISCLOSURES

Included in creditors falling due after more than one year, are long term loans from the director. The loans are
repayable within 5 years, are secured and attract interest at 2.5%. The balance owed to the director at the year end
was £9,000,000 (2018: £7,481,041).

Page 6