Company registration number 12108601 (England and Wales)
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
4
23,978,716
23,978,716
Current assets
Debtors
5
895,983
60,243
Cash at bank and in hand
7,910,767
353,405
8,806,750
413,648
Creditors: amounts falling due within one year
6
(91,166)
(3,480)
Net current assets
8,715,584
410,168
Net assets
32,694,300
24,388,884
Capital and reserves
Called up share capital
7
32,856,437
24,492,888
Share premium account
114,273
114,273
Other reserves
702,458
434,250
Profit and loss reserves
(978,868)
(652,527)
Total equity
32,694,300
24,388,884
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The 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 by the board of directors and authorised for issue on 25 July 2023 and are signed on its behalf by:
J M Green-Armytage
Director
Company Registration No. 12108601
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
Share capital
Share premium account
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2021
14,753,254
434,250
(91,617)
15,095,887
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
-
-
(560,910)
(560,910)
Issue of share capital
7
24,492,887
-
-
24,492,887
Reduction of shares
7
(14,753,253)
-
(14,753,253)
Other movements
-
114,273
-
-
114,273
Balance at 31 December 2021
24,492,888
114,273
434,250
(652,527)
24,388,884
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
-
-
(326,340)
(326,340)
Issue of share capital
7
8,363,549
-
-
8,363,549
Capital contribution
-
-
268,208
268,208
Balance at 31 December 2022
32,856,437
114,273
702,458
(978,868)
32,694,300
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
Confia Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, 17A Curzon Street, London, W1J 5HS.
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 amounts 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, associates and jointly controlled entities 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.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
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.
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors 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.
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 creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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.
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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
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.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
CONFIA HOLDINGS LTD
(PREVIOUSLY JZ LENDING LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
23,978,716
23,978,716
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
895,983
60,243
6
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
91,166
3,480
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
A1 Ordinary shares of 88.309539p each
20,544,332
15,240,577
18,142,605
13,564,114
A2 Ordinary shares of 86.363665p each
15,494,758
11,267,443
13,381,841
9,730,286
A3 Ordinary shares of 88.700924p each
1,480,245
1,325,268
1,312,991
1,179,488
B1 Ordinary shares of £4825.58 each
2
2
9,651
9,651
B2 Ordinary shares of £4674.14 each
2
2
9,348
9,348
37,519,340
27,833,293
32,856,437
24,492,888
8
Other Reserves
Other reserves represents capital introduced by members into the company without an issuance of shares. The capital is not repayable to members and is treated as a capital contribution.