Company Registration No. 08688287 (England and Wales)
REALWORLD CAPITAL MANAGEMENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
Mutual House
70 Conduit Street
London
W1S 2GF
REALWORLD CAPITAL MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
Mr Kevin Regan
(Chairman)
Mr Mark Steed
Mr Mark Goodman
Company number
08688287
Registered office
Mutual House
70 Conduit Street
London
W1S 2GF
Auditors
TC Group
Mutual House
70 Conduit Street
London
W1S 2GF
REALWORLD CAPITAL MANAGEMENT LIMITED
CONTENTS
Page
Company information
0
Statement of financial position
1
Notes to the financial statements
2 - 5
REALWORLD CAPITAL MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Trade and other receivables
3
14,286
1,496
Cash and cash equivalents
35,573
43,482
49,859
44,978
Current liabilities
4
(3,750)
(2,100)
Net current assets
46,109
42,878
Non-current liabilities
5
(32,411)
-
Net assets
13,698
42,878
Equity
Called up share capital
6
252,500
252,500
Retained earnings
(238,802)
(209,622)
Total equity
13,698
42,878
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 April 2020 and are signed on its behalf by:
Mr Kevin Regan
Director
Company Registration No. 08688287
The notes on pages 2 to 5 form part of these financial statements
REALWORLD CAPITAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Realworld Capital Management Limited
(08688287)
is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Mutual House, 70 Conduit Street, London, W1S 2GF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The Directors have given consideration to the impact of the COVID-19 pandemic on Realworld Capital Limited's ability to continue as a going concern. The COVID-19 virus is causing serious dislocation in the financial markets with offices closing and staff being asked to work from home. The Directors will continue working towards meeting their business targets as this can be done from their homes. Therefore in their opinion, due to the nature of the business, the impact of the pandemic is not likely to be significant. Consequently, the Directors believe that it continues to be appropriate to prepare the financial statements on a going concern basis.
1.3
Property, plant and equipment
Property, plant and equipment
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand,
and
deposits held at call with banks
.
REALWORLD CAPITAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position 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.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are
initially recognised at transaction price.
Financial liabilities classified as payable within one year are not amortised.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts 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 payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
REALWORLD CAPITAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
2
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2019
3,461
Disposals
(675)
At 31 December 2019
2,786
Depreciation and impairment
At 1 January 2019
3,461
Eliminated in respect of disposals
(675)
At 31 December 2019
2,786
Carrying amount
At 31 December 2019
-
At 31 December 2018
-
3
Trade and other receivables
2019
2018
Amounts falling due within one year:
£
£
Other receivables
14,286
1,496
4
Current liabilities
2019
2018
£
£
Other payables
3,750
2,100
5
Non-current liabilities
2019
2018
£
£
Other payables
32,411
-
REALWORLD CAPITAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
150,000 ordinary shares of £1 each
150,000
150,000
Preference share capital
Issued and fully paid
102,500 redeemable preference shares of £1 each
102,500
102,500
Preference shares classified as equity
102,500
102,500
Total equity share capital
252,500
252,500
The holders of ordinary shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.
The holders of redeemable preference shares have full rights in the company with respect to voting and dividends and have preferential rights over ordinary shares in distributions.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Robert Keen FCCA.
The auditor was TC Group.