Company registration number 01375138 (England and Wales)
THE CAPITAL GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE CAPITAL GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
THE CAPITAL GROUP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
5
362,293
362,451
Current assets
Debtors
7
8,017,900
8,089,615
Cash at bank and in hand
761
19,794
8,018,661
8,109,409
Creditors: amounts falling due within one year
8
(10,271,178)
(10,990,896)
Net current liabilities
(2,252,517)
(2,881,487)
Net liabilities
(1,890,224)
(2,519,036)
Capital and reserves
Called up share capital
10,002
10,002
Profit and loss reserves
(1,900,226)
(2,529,038)
Total equity
(1,890,224)
(2,519,036)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 5 April 2024 and are signed on its behalf by:
R  Chiu
Director
Company registration number 01375138 (England and Wales)
THE CAPITAL GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
10,002
(3,189,401)
(3,179,399)
Year ended 31 December 2022:
Profit and total comprehensive income
-
660,363
660,363
Balance at 31 December 2022
10,002
(2,529,038)
(2,519,036)
Year ended 31 December 2023:
Profit and total comprehensive income
-
628,812
628,812
Balance at 31 December 2023
10,002
(1,900,226)
(1,890,224)
THE CAPITAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

The Capital Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22-24 Basil Street, London, SW3 1AT.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Warwick Hotel Cambridge Limited. These consolidated financial statements are available from The Companies House website.

1.2
Going concern

The truecompany has obtained confirmation from Warwick Amusement Corporation (a US parent company) that it will continue to provide such financial support as the company requires for its continued operations for a period of not less than one year from the issuance and signing of these financial statements.

 

Based on the foregoing, the Board believes that the business has the ability to remain trading for a period of at least 12 months from the date of signing of these financial statements. Based on these indications the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

1.3
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.

THE CAPITAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
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.

1.5
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.

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.

1.6
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.

THE CAPITAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.7
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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
10,225
277,088
287,313
Depreciation and impairment
At 1 January 2023 and 31 December 2023
10,225
277,088
287,313
Carrying amount
At 31 December 2023
-
0
-
0
-
0
At 31 December 2022
-
0
-
0
-
0
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
362,293
362,451
THE CAPITAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023
362,451
Disposals
(158)
At 31 December 2023
362,293
Carrying amount
At 31 December 2023
362,293
At 31 December 2022
362,451

The London Bakery Company Limited, Capital Group Restaurants Limited and Capital Group Management Limited have been wound down in 2023 and so the investments have been disposed.

6
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Capital Hotels (Knightsbridge) Limited
UK
Hoteliers
Ordinary
100.00

The above entities all share the following registered address: 22-24 Basil Street, Knightsbridge, London, SW3 1AT.

7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
8,017,900
8,089,615
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
231,836
221,450
Amounts owed to group undertakings
9,764,797
10,427,207
Taxation and social security
259,046
326,739
Other creditors
15,499
15,500
10,271,178
10,990,896
THE CAPITAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Benjamin Allen ACCA
Statutory Auditor:
Glazers
10
Financial commitments, guarantees and contingent liabilities

Commitments

The company has a contingent liability in respect of a Group registration for VAT which at 31 December 2023 amounted to £233,569 (2022: £326,739).

11
Related party transactions
Transactions with related parties

The company is a wholly owned subsidiary of Warwick Hotel Cambridge Limited and as such has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with entities that are part of the group.

12
Controlling party

The immediate parent undertaking is Warwick Hotel Cambridge Limited, a company incorporated in England

and Wales.

 

The ultimate parent undertaking is Warwick Holdings S.A. a company incorporated in Luxembourg.

 

The smallest group in which the results of the company are consolidated is Warwick Hotel Cambridge

Limited. Copies of the financial statements of Warwick Hotel Cambridge Limited are available from

Companies House.

 

The directors consider Richard Chiu to be the ultimate controlling party.

2023-12-312023-01-01false05 April 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedE SoukiassianR Chiufalsefalse013751382023-01-012023-12-31013751382023-12-31013751382022-12-3101375138core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3101375138core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3101375138core:CurrentFinancialInstruments2023-12-3101375138core:CurrentFinancialInstruments2022-12-3101375138core:ShareCapital2023-12-3101375138core:ShareCapital2022-12-3101375138core:RetainedEarningsAccumulatedLosses2023-12-3101375138core:RetainedEarningsAccumulatedLosses2022-12-3101375138core:ShareCapital2021-12-3101375138core:RetainedEarningsAccumulatedLosses2021-12-3101375138bus:Director22023-01-012023-12-3101375138core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31013751382022-01-012022-12-3101375138core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3101375138core:LandBuildings2022-12-3101375138core:OtherPropertyPlantEquipment2022-12-31013751382022-12-3101375138core:LandBuildings2023-12-3101375138core:OtherPropertyPlantEquipment2023-12-3101375138core:LandBuildings2022-12-3101375138core:OtherPropertyPlantEquipment2022-12-3101375138bus:PrivateLimitedCompanyLtd2023-01-012023-12-3101375138bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101375138bus:FRS1022023-01-012023-12-3101375138bus:Audited2023-01-012023-12-3101375138bus:Director12023-01-012023-12-3101375138bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP