Company registration number 08679221 (England and Wales)
CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
1,045,100
1,045,100
Current assets
Debtors
6
15,452
15,452
Cash at bank and in hand
285
48
15,737
15,500
Creditors: amounts falling due within one year
7
(585,593)
(569,836)
Net current liabilities
(569,856)
(554,336)
Total assets less current liabilities
475,244
490,764
Creditors: amounts falling due after more than one year
8
(180,000)
(180,000)
Net assets
295,244
310,764
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
295,144
310,664
Total equity
295,244
310,764

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

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 and signed by the director and authorised for issue on 5 April 2024
Sabina Hegarty
Director
Company Registration No. 08679221
CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED) is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries are 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.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

1.4
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.

CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
2
Employees

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

2023
2022
Number
Number
Total
-
0
-
0
3
Interest receivable and similar income
2023
2022
£
£
Income from shares in group undertakings
25,000
10,000
4
Fixed asset investments
2023
2022
£
£
Investment in subsidiary
1,045,100
1,045,100
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 August 2022 & 31 July 2023
1,045,100
Carrying amount
At 31 July 2023
1,045,100
At 31 July 2022
1,045,100
5
Subsidiaries

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

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Finance Cover & Training Limited
England and Wales
Business manager cover at prestige car dealerships, staff training and development
ordinary
100.00
0
Fabulous Miniatures Limited
England and Wales
Advertising, manufacture and sale of dolls houses
ordinary
100.00
0
CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
5
Subsidiaries
(Continued)
- 4 -
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Finance Cover & Training Limited
(34,609)
464,207
Fabulous Miniatures Limited
(762)
38,130
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
15,452
15,452
7
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts due to group undertakings
1,435
4,031
Amounts due to connected companies
461,343
461,093
Director's current account
122,262
104,099
Other creditors
553
613
585,593
569,836

In amounts due to connected companies is an amount owed to National Dealer Academy Limited £461,343 (2022: £461,093), a company in which Sabina Hegarty is the sole director/shareholder.

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other borrowings
180,000
180,000

The long term loan represents loan from the company's only director/shareholder.

9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
CALIBRE GROUP SOLUTIONS LIMITED (PREVIOUSLY KNOWN AS FINANCE COVER GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
10
Controlling party

The company was controlled throughout the current and previous years by the director by virtue of her holding the entire issued share capital of the company.

11
Related party transactions

Interim dividend totalling £40,000 (2022: £40,000) was paid to the director in the year.

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