Company Registration No. 08688287 (England and Wales)
REALWORLD CAPITAL MANAGEMENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
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
COMPANY INFORMATION
Directors
Mr Kevin Regan
(Chairman)
Mr Mark Steed
Mr Mark Goodman
Mrs J K Wheelan
(Appointed 1 April 2020)
Company number
08688287
Registered office
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
Auditors
TC Group
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
Business address
134 Priory Lane
London
SW15 5JP
REALWORLD CAPITAL MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
Trade and other receivables
4
926
14,286
Cash and cash equivalents
49,768
35,573
50,694
49,859
Current liabilities
5
(4,696)
(3,750)
Net current assets
45,998
46,109
Non-current liabilities
6
(32,411)
Net assets
45,998
13,698
Equity
Called up share capital
330,900
252,500
Retained earnings
(284,902)
(238,802)
Total equity
45,998
13,698
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 27 April 2021 and are signed on its behalf by:
Mr Mark Steed
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 2020
- 2 -
1
Accounting policies
Company information
Realworld Capital Management Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Level 1, Devonshire House, One Mayfair Place, London, United Kingdom, W1J 8AJ.
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 2020
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
REALWORLD CAPITAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 4 -
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
5
4
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2020 and 31 December 2020
2,786
Depreciation and impairment
At 1 January 2020 and 31 December 2020
2,786
Carrying amount
At 31 December 2020
At 31 December 2019
REALWORLD CAPITAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 5 -
4
Trade and other receivables
2020
2019
Amounts falling due within one year:
£
£
Other receivables
926
14,286
5
Current liabilities
2020
2019
£
£
Taxation and social security
685
Other payables
4,011
3,750
4,696
3,750
6
Non-current liabilities
2020
2019
£
£
Other payables
32,411
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.