Company Registration No. 03798248 (England and Wales)
CAPCON LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2014
CAPCON LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
CAPCON LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2014
31 October 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
610,856
712,656
Tangible assets
2
23,503
22,048
Investments
2
5
5
634,364
734,709
Current assets
Debtors
582,077
576,913
Cash at bank and in hand
50
295
582,127
577,208
Creditors: amounts falling due within one year
3
(1,065,989)
(1,242,983)
Net current liabilities
(483,862)
(665,775)
Total assets less current liabilities
150,502
68,934
Capital and reserves
Long term creditors - shareholder loans
764,350
690,866
Called up share capital
4
10,000
10,000
Share premium account
990,000
990,000
Profit and loss account
(1,613,848)
(1,621,932)
Shareholders' funds
(613,848)
(621,932)
150,502
68,934
CAPCON LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2014
31 October 2014
- 2 -
For the financial year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 July 2015
P F Jackson
Director
Company Registration No. 03798248
CAPCON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements have been prepared on a going concern basis.
1.2
Turnover
Turnover comprises amounts receivable for services provided in the normal course of business, exclusive of VAT and after deduction of trade discounts. Turnover is recognised in line with delivery of service. Turnover is entirely attributable to the Company' s principal activities.
1.3
Goodwill
Goodwill arising on an acquisition of a business is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. It is capitalised and amortised through the profit and loss account over its useful economic life of 20 years. Impairment tests on the carrying value of goodwill are undertaken:
- at the end of the first full year following acquisition;
- in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% straight line
1.5
Leasing
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives. The interest element of leasing payments represents a constant proportion of the capital base outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight-line basis over the lease term.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
CAPCON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2014
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 November 2013
2,899,270
274,480
5
3,173,755
Additions
-
14,044
-
14,044
At 31 October 2014
2,899,270
288,524
5
3,187,799
Depreciation
At 1 November 2013
2,186,614
252,432
-
2,439,046
Charge for the year
101,800
12,589
-
114,389
At 31 October 2014
2,288,414
265,021
-
2,553,435
Net book value
At 31 October 2014
610,856
23,503
5
634,364
At 31 October 2013
712,656
22,048
5
734,709
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Capcon Argen Limited
England and Wales
ordinary
100.00
Vincent Sherman (Creditor Claims) Limited
England and Wales
ordinary
100.00
Capcon Argen Risk Management Limited
England and Wales
ordinary
100.00
Capcon Licensing Limited
England and Wales
ordinary
100.00
Capcon Golf Limited
England and Wales
ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Capcon Argen Limited
Dormant
(589,330)
-
Vincent Sherman (Creditor Claims) Limited
Dormant
2
-
Capcon Argen Risk Management Limited
Dormant
(59,906)
-
Capcon Licensing Limited
Dormant
(306,803)
-
Capcon Golf Limited
Dormant
(490,000)
-
CAPCON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2014
- 5 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £546,077 (2013- £620,789)
4
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1,000,000 ordinary shares of 1p each
10,000
10,000
5
Ultimate parent company
At 31 October 201
4
the company's ultimate parent company was Capcon Securities Ltd which is the parent of both the smallest and largest groups of which the company is a member.