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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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2B CAPITAL LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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2B CAPITAL LTD |
2B CAPITAL LTD (REGISTERED NUMBER: 10782624) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2018 |
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Company information | 1 |
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Balance sheet | 2 |
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Notes to the financial statements | 4 |
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2B CAPITAL LTD |
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COMPANY INFORMATION |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
2B CAPITAL LTD (REGISTERED NUMBER: 10782624) |
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BALANCE SHEET |
31 December 2018 |
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31/12/18 | 31/12/17 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
2B CAPITAL LTD (REGISTERED NUMBER: 10782624) |
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BALANCE SHEET - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the director on
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2B CAPITAL LTD (REGISTERED NUMBER: 10782624) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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2b Capital Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is derived from the loan agreement in place regarding the commitment fee. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
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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. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at |
transaction price. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Amounts 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 creditors are initially recognised at transaction |
price. |
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Investments |
Investments relate to loan agreements entered into with regulated FCA companies. The investments are recorded |
at market value. |
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3. | FIXED ASSET INVESTMENTS |
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31/12/18 | 31/12/17 |
£ | £ |
Other investments not loans |
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Other loans |
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2B CAPITAL LTD (REGISTERED NUMBER: 10782624) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
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3. | FIXED ASSET INVESTMENTS - continued |
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Additional information is as follows: |
Other |
investments |
£ |
COST |
Additions |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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Other |
loans |
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At 1 January 2018 |
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New in year |
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At 31 December 2018 |
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Included within fixed assets is the investment with Lendable, a company which is regulated by the FCA. |
Lenadble is a lending company which enters into regulated consumer credit agreements. Lendable Ltd funds each |
consumer loan by issuing one whole loan note or several notes to qualified investors. Each note entitles the |
holder to receive a share of repayments on the corresponding consumer loan. An investor on the platform will |
build a diversified portfolio of notes over time, each one making monthly repayments of interest. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Other debtors |
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Prepayments |
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Other debtors are unsecured, interest free and repayable on demand. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Trade creditors |
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Tax |
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Directors' current accounts | 2,137 | 3,664 |
Accrued expenses |
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The Directors' current account is unsecured, interest free and repayable on demand. |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Other creditors |
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2B CAPITAL LTD (REGISTERED NUMBER: 10782624) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
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Long term loans are repayable within 5 years, are secured and attract interest at 2.5%. |
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31/12/18 | 31/12/17 |
£ | £ |
Brought forward | 2,008,356 | - |
Addition | 5,481,622 | 2,000,000 |
Repayment | (128,996 | ) | - |
Accrued interest | 120,059 | 8,356 |
Carried forward | 7,481,041 | 2,008,356 |
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7. | RELATED PARTY DISCLOSURES |
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Included in creditors falling due after more than one year, are long term loans from the director. The loans are |
repayable within 5 years, are secured and attract interest at 2.5%. The balance owed to the director at the year |
end was £7,481,041 (2017: £2,008,356). |