Company registration number 11054210 (England and Wales)
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
PAGES FOR FILING WITH REGISTRAR
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2021
30 November 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
1,118,703
1,000,001
Current assets
Debtors
4
375,000
Cash at bank and in hand
34,790
34,790
375,000
Creditors: amounts falling due within one year
5
(402,253)
(375,001)
Net current liabilities
(367,463)
(1)
Net assets
751,240
1,000,000
Capital and reserves
Called up share capital
6
15,319
15,319
Share premium account
984,681
Profit and loss reserves
735,921
Total equity
751,240
1,000,000
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 and signed by the director and authorised for issue on 30 August 2022
Mr M J Higginson
Director
Company Registration No. 11054210
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 2 -
1
Accounting policies
Company information
M Capital Investment Partners (Holdings) Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
76 Church Street, Lancaster, LA1 1ET.
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
Fixed asset investments
Interests in subsidiaries
and
associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 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.
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
1
Accounting policies
(Continued)
- 3 -
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 loans from
fellow group companies, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.4
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.
2
Employees
The average monthly number of persons (excluding directors who are not remunerated) employed by the company during the year was:
2021
2020
Number
Number
Total
3
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
1,118,703
1,000,001
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 December 2020
1,000,001
Additions
118,702
At 30 November 2021
1,118,703
Carrying amount
At 30 November 2021
1,118,703
At 30 November 2020
1,000,001
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 4 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
375,000
5
Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
402,253
375,001
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
153,188
153,188
15,319
15,319
During the year the company made a reduction in share premium of £984,681 which repaid £246,000 to shareholders of the company and created distributable reserves of £738,681. There was no change to share capital as a result of this resolution.
7
Related party transactions
2021
2020
Amounts due to related parties
£
£
Other related parties
375,001
375,001
The following amounts were outstanding at the reporting end date:
2020
2020
Amounts due from related parties
£
£
Entities in which the company has a participating interest
-
375,000