Brexit Capital Limited - Director's report and Financial Statements

Running Head: Auditing
BREXIT CAPITAL LIMITED
Director’s Report and Financial Statements
Period: 24th March (Date of Incorporation) 2019 – 31st December
2019
UWL C.P.A. LIMITED
Certified Public Accountants (Practising)
Table of Contents
Director’s Report........................................................................................................................2

1
Auditing
Independent Auditor’s Report....................................................................................................3
Income Statement.......................................................................................................................6
Statement of Financial Position.................................................................................................6
Notes to Financial Statements:...................................................................................................7
Bibliography.............................................................................................................................16
Appendices...............................................................................................................................17

2
Auditing
Director’s Report
To the Members,
Introduction:
The Financial Statements as well as the Director’s Report are prepared by the Director
of this organization starting from the period 24th March till 31st December, 2019. Brexit
Limited is a public limited organization and it was incorporated in 24th March, 2019.
Principal Activity:
The activity of Brexit Capital Limited includes providing of financial services as it is
operating in the industry of financial services.
Directors and date of nomination:
There were two directors who have been selected during this period. These two
directors are Dwi Jaya and Dikari.
Business Review:
This organization is new in this industry and they have been incorporating their
operations from this year only. As a result, they are facing a loss which is equivalent to £
49,911.39. This amount is the set up costs which the business has invested for setting up this
organization. Therefore, the board of directors are expecting growth in the future prospects
and are quite optimistic about it.
Permitted indemnity provision:
The organization is likely to provide the directors with an indemnity against the third
party liability and this will be provided only if the indemnity falls within the mentioned
category according to the Act of indemnity.

3
Auditing
Auditor:
On 9th December, 2019 the resolution for appointing auditors have been passed and as
a result of this resolution UWL. C.P.A Limited, Chartered Accountants, C.P.A. (Practising)
has been taken under considered and are appointed as the audit partner for this organization
with effect from 16th December, 2019 till the next “Annual General Meeting”. At the time of
the conclusion of the next AGM the auditors will be retiring but they are eligible for re-
appointment.
For and behalf of Director,
For Brexit Capital Limited,
(Chairman)
Date:
Place: London
Independent Auditor’s Report
The Members,
Brexit Capital Limited
London
Opinion:
The audit of the financial statements of this organization have been conducted by us
for the period 24th March till 31st December. The financial statement consist of the “Statement
of Financial Position”, “Statement of Income” and “Notes to the Financial Statements” along
with a summary of significant policies of accounting. The financial statements of this