REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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ACCELERIS CAPITAL LIMITED |
REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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ACCELERIS CAPITAL LIMITED |
ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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ACCELERIS CAPITAL LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
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BANKERS: |
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Bridle Road |
Bootle |
Liverpool |
Mersyside |
L30 4GB |
ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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STATEMENT OF FINANCIAL POSITION |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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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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SHAREHOLDERS' FUNDS |
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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 Board of Directors and authorised for issue on
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ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Acceleris Capital Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, and represents services provided. |
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Revenue from contracts for the provision of professional services is recognised be reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Tangible fixed assets are recognised at cost less accumulated depreciation and amortisation. |
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Impairment of fixed assets |
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
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Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. |
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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 date. |
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Financial assets are impaired where there ia objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cashflows discounted at the assets original effective interest rate. The impairment loss is recognised in profit and loss. |
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If there is a decrease in impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. |
ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
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Short term financial liabilities, including trade and other creditors, overdrafts and related party loans, are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due, those payable after one year should be measured at amortised cost, using the effective interest rate method. |
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Investments |
Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially recorded at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Rentals payable under operating leases are charged to profit and loss on a straight line basis over the term of the relevant lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Government income |
The government has claimed monies from HMRC as part of the government furlough scheme. This is recognised immediately the benefit becomes due. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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5. | FIXED ASSET INVESTMENTS |
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2022 | 2021 |
£ | £ |
Other investments not loans |
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Additional information is as follows: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2021 |
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52,375 |
Additions |
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60,267 |
Disposals |
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( |
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Revaluations |
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15,547 |
Impairments |
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( |
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Reclassification/transfer |
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( |
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At 31 March 2022 |
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125,188 |
NET BOOK VALUE |
At 31 March 2022 |
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125,188 |
At 31 March 2021 |
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52,375 |
ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
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5. | FIXED ASSET INVESTMENTS - continued |
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Cost or valuation at 31 March 2022 is represented by: |
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Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
Valuation in 2020 | 10,022 | (44,888 | ) | (34,866 | ) |
Valuation in 2022 | - | 14,546 | 14,546 |
Cost | 10,000 | 135,508 | 145,508 |
20,022 | 105,166 | 125,188 |
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Investments (neither listed nor unlisted) were as follows: |
2022 | 2021 |
£ | £ |
Warrants | 6,598 | 15,175 |
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Warrants are held at fair value using the latest share issue price, less the price to exercise and discounted to reflect the uncertain nature of the investment. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Directors' current accounts | 48,758 | 48,758 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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ACCELERIS CAPITAL LIMITED (REGISTERED NUMBER: 08817319) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
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10. | OPERATING LEASE COMMITMENTS |
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The company had total operating lease commitments at the balance sheet date of £45,745 (2021: £32,872). |
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11. | RELATED PARTY DISCLOSURES |
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During the year, the company sold services to multiple companies in which a director holds significant influence, amounting to £324,900 (2021 - £157,320). £9,208 (2021 - £59,131) is outstanding at the year end. |
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The value of investments held by the company in which a director holds significant influence amounts to £64,586 (2021 £38,796). |
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12. | POST BALANCE SHEET EVENTS |
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Following the year end the company entered into a joint venture arrangement with KPMG, Accountants and Business Advisors. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of its board of directors. |