Capital Growth Investments Limited 13496458 false 2022-08-01 2023-03-31 2023-03-31 The principal activity of the company is letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 13496458 2022-08-01 2023-03-31 13496458 2023-03-31 13496458 core:CurrentFinancialInstruments 2023-03-31 13496458 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13496458 core:Non-currentFinancialInstruments 2023-03-31 13496458 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13496458 bus:SmallEntities 2022-08-01 2023-03-31 13496458 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-03-31 13496458 bus:FullAccounts 2022-08-01 2023-03-31 13496458 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-03-31 13496458 bus:RegisteredOffice 2022-08-01 2023-03-31 13496458 bus:Director2 2022-08-01 2023-03-31 13496458 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-03-31 13496458 core:OtherRelatedParties 2022-08-01 2023-03-31 13496458 countries:EnglandWales 2022-08-01 2023-03-31 13496458 2022-07-31 13496458 2021-07-06 2022-07-31 13496458 2022-07-31 13496458 core:CurrentFinancialInstruments 2022-07-31 13496458 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 13496458 core:Non-currentFinancialInstruments 2022-07-31 13496458 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 13496458

Prepared for the registrar

Capital Growth Investments Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 August 2022 to 31 March 2023

 

Capital Growth Investments Limited

(Registration number: 13496458)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

635,220

151,381

Current assets

 

Debtors

5

895

5,596

Cash at bank and in hand

 

2,851

5,142

 

3,746

10,738

Creditors: Amounts falling due within one year

6

(294,664)

(162,692)

Net current liabilities

 

(290,918)

(151,954)

Total assets less current liabilities

 

344,302

(573)

Creditors: Amounts falling due after more than one year

6

(403,398)

-

Net liabilities

 

(59,096)

(573)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(59,196)

(673)

Shareholders' deficit

 

(59,096)

(573)

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 November 2023 and signed on its behalf by:
 


E Scholtz
Director

 

Capital Growth Investments Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 March 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the rents received in respect of the investment property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Capital Growth Investments Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

4

Investment properties

£

At 1 August 2022

151,381

Additions

483,839

At 31 March 2023

635,220

There has been no valuation of investment property by an independent valuer.

 

5

Debtors

31 March 2023
 £

31 July 2022
 £

Other debtors

100

416

Prepayments

795

5,180

 

895

5,596

 

Capital Growth Investments Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 March 2023

 

6

Creditors

Note

31 March 2023
 £

31 July 2022
 £

Due within one year

 

Loans and borrowings

7

271,888

161,192

Accrued expenses

 

22,776

1,500

 

294,664

162,692

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

403,398

-

 

7

Loans and borrowings

Note

2023
£

2022
£

Current loans and borrowings

Other borrowings

8

271,888

161,192

Note

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

 

403,398

-

 

8

Related party transactions

Summary of transactions with other related parties

At 31 March 2023 the company owed £271,888 (2022: £161,192) to its directors in the form of a directors loan account. This balance has had interest charged at 10% annually. The balance has accrued interest of £18,874 to date. The loan has no fixed repayment terms.