Registration number:
Captivating Cuba Limited
for the Year Ended 31 March 2021
Captivating Cuba Limited
Contents
Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Captivating Cuba Limited
(Registration number: 05521197)
Abridged Balance Sheet as at 31 March 2021
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2021 |
2020 |
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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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Prepayments and accrued income |
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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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Creditors: Amounts falling due after more than one year |
( |
- |
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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 |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2021 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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Captivating Cuba Limited
(Registration number: 05521197)
Abridged Balance Sheet as at 31 March 2021 (continued)
Approved and authorised by the
.........................................
Director
Captivating Cuba Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021
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 abridged 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 abridged financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Captivating Cuba Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021 (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.
Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.
A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.
Finance income and costs policy
Interest relating to the Bounce Back Loan Scheme (BBLS) is charged on a monthly basis however, the first 12 months of interest are covered by the UK Government's Business Interruption Payment ("BIP").
The interest covered by the UK Government's BIP is debited to finance costs and credited to Government Grants in the profit and loss as it becomes payable.
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.
Captivating Cuba Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021 (continued)
2 |
Accounting policies (continued) |
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.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Captivating Cuba Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021 (continued)
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Captivating Cuba Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021 (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 April 2020 |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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- |
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Charge for the year |
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- |
- |
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At 31 March 2021 |
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- |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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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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Related party transactions |
Transactions with directors |
2021 |
At 1 April 2020 |
Advances to directors |
At 31 March 2021 |
Mr Matthew O'Sullivan |
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Directors loan account |
- |
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Captivating Cuba Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021 (continued)
6 |
Related party transactions (continued) |
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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Other transactions with directors |
This loan is provided interest free and is repayable on demand.
Summary of transactions with entities with joint control or significant interest
Ultimate controlling party |
The ultimate controlling party is