Registration number:
Captivating Cuba Limited
for the Period from 1 December 2019 to 31 March 2020
Captivating Cuba Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Captivating Cuba Limited
(Registration number: 05521197)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
780,000 |
780,000 |
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Profit and loss account |
(362,665) |
(357,224) |
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Shareholders' funds |
417,335 |
422,776 |
For the financial period ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Captivating Cuba Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2019 to 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Suite G33
Business and Technology Centre
Bessemer Drive
Stevenage
Hertfordshire
SG1 2DX
England and Wales
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention. Some items, such as fixed assets, are held at fair value. Amounts are recognised net of deferred tax. Fair value movements are charged through other comprehensive income in accordance with FRS102.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Captivating Cuba Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2019 to 31 March 2020 (continued)
2 |
Accounting policies (continued) |
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses and fair value, with any changes in fair value recognised net of deferred tax within other comprehensive income.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives. Amounts held at fair value are not depreciated, instead the carrying value is assessed by the Director with any change running through other comprehensive income. The rates are as follows:
Asset class |
Depreciation method and rate |
Plant and Machinery |
20% Straight line |
Motor Vehicles |
Held at fair value |
Fixtures and Fittings |
Held at fair value |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Captivating Cuba Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2019 to 31 March 2020 (continued)
2 |
Accounting policies (continued) |
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business. Bad debts are reviewed annually and any amounts deemed as irrecoverable are recognised in the profit and loss account.
Trade debtors are recognised at transactions price.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised at transaction price.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
The company does not have a PAYE scheme, all personnel that carry out work for the company are non UK residents.
Captivating Cuba Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2019 to 31 March 2020 (continued)
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 December 2019 |
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Additions |
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- |
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At 31 March 2020 |
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Depreciation |
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At 1 December 2019 |
- |
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Charge for the period |
- |
- |
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At 31 March 2020 |
- |
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Carrying amount |
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At 31 March 2020 |
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At 30 November 2019 |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Other debtors |
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Captivating Cuba Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2019 to 31 March 2020 (continued)
Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
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770,000 |
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770,000 |
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Rights, preferences and restrictions
Ordinary shares have the following rights, preferences and restrictions: |
Preference shares have the following rights, preferences and restrictions: |
Captivating Cuba Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2019 to 31 March 2020 (continued)
Related party transactions |
Transactions with directors |
2020 |
At 1 December 2019 |
Advances to directors |
At 31 March 2020 |
Mr Matthew O'Sullivan |
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Directors loan account |
( |
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- |
2019 |
At 1 October 2018 |
Repayments by director |
At 30 November 2019 |
Mr Matthew O'Sullivan |
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Directors loan account |
- |
( |
( |
Summary of transactions with entities with joint control or significant interest
Ultimate controlling party |
The ultimate controlling party is
Non adjusting events after the financial period |
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