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COMPANY REGISTRATION NUMBER: 08561424
Catamaran Ventures UK Ltd
Filleted Unaudited Financial Statements
31 December 2018
Catamaran Ventures UK Ltd
Statement of Financial Position
31 December 2018
2018
2017
Note
£
£
£
Fixed assets
Investments
5
1,199,810
857,287
Current assets
Debtors
6
3,401
Cash at bank and in hand
400,496
565,480
---------
---------
403,897
565,480
Creditors: amounts falling due within one year
7
33,382
78,383
---------
---------
Net current assets
370,515
487,097
------------
------------
Total assets less current liabilities
1,570,325
1,344,384
Creditors: amounts falling due after more than one year
8
1,384,998
1,304,998
------------
------------
Net assets
185,327
39,386
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
185,325
39,384
---------
--------
Shareholders funds
185,327
39,386
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Catamaran Ventures UK Ltd
Statement of Financial Position (continued)
31 December 2018
These financial statements were approved by the board of directors and authorised for issue on 27 September 2019 , and are signed on behalf of the board by:
Ms A Murty
Director
Company registration number: 08561424
Catamaran Ventures UK Ltd
Notes to the Financial Statements
Year ended 31 December 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 83 Victoria Street, London, SW1H 0HW, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% straight line
Fixtures & Fittings
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2018 and 31 December 2018
7,205
520
7,725
-------
----
-------
Depreciation
At 1 January 2018 and 31 December 2018
7,205
520
7,725
-------
----
-------
Carrying amount
At 31 December 2018
-------
----
-------
At 31 December 2017
-------
----
-------
5. Investments
Other investments other than loans
£
Cost
At 1 January 2018
857,287
Additions
443,017
Disposals
( 100,494)
------------
At 31 December 2018
1,199,810
------------
Impairment
At 1 January 2018 and 31 December 2018
------------
Carrying amount
At 31 December 2018
1,199,810
------------
At 31 December 2017
857,287
------------
6. Debtors
2018
2017
£
£
Other debtors
3,401
-------
----
7. Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
32,182
77,383
Other creditors
1,200
1,000
--------
--------
33,382
78,383
--------
--------
8. Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
1,384,998
1,304,998
------------
------------
/This relates to a long term directors interest free loan
9. Related party transactions
The company was under the control of its director Ms A Murty throughout the current period. Included in long term liabilities is £732,499 (2017 £652,499)which is a long term interest free loan from the Director.