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Registered Number: 11061922
England and Wales

 

 

 

CAPITAL GROUP SERVICES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Capital Group Services Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Capital Group Services Limited for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of Capital Group Services Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Capital Group Services Limited and state those matters that we have agreed to state to the Board of Directors of Capital Group Services Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Capital Group Services Limited and its Board of Directors as a body for our work or for this report
It is your duty to ensure that Capital Group Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Capital Group Services Limited. You consider that Capital Group Services Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Capital Group Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Doyles
51 Station Road
Marston Green
Birmingham
West Midlands
B37 7AB
26 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 384    2,648 
384    2,648 
Current assets      
Stocks 260,866    221,111 
Debtors: amounts falling due within one year 10,143    23,004 
Cash at bank and in hand 517    2,828 
271,526    246,943 
Creditors: amount falling due within one year (224,144)   (197,125)
Net current assets 47,382    49,818 
 
Total assets less current liabilities 47,766    52,466 
Creditors: amount falling due after more than one year (40,425)   (46,737)
Provisions for liabilities (73)   (503)
Net assets 7,268    5,226 
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account 7,267    5,225 
Shareholders' funds 7,268    5,226 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 26 July 2024 and were signed by:


-------------------------------
Muneer Khan
Director
2
General Information
Capital Group Services Limited is a private company, limited by shares, registered in England and Wales, registration number 11061922, registration address 51 Station Road, Marston Green, Birmingham, West Midlands, B37 7AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 December 2022 482    18,250    974    19,706 
Additions      
Disposals      
At 30 November 2023 482    18,250    974    19,706 
Depreciation
At 01 December 2022 161    16,349    548    17,058 
Charge for year 120    1,901    243    2,264 
On disposals      
At 30 November 2023 281    18,250    791    19,322 
Net book values
Closing balance as at 30 November 2023 201      183    384 
Opening balance as at 01 December 2022 321    1,901    426    2,648 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Capital Group Property limited88,925 11,956 
RK Future Developments Ltd5,150 

During the year, the company invoiced Capital Group Property Limited, a company wholly owned by the director for building services rendered.
During the year the company invoiced RK Future Developments Ltd, a company 50% owned by the director for building services rendered.
6.

Ultimate Controlling Party

The ultimate controlling party is the director, by virtue of his 100% shareholding of the company's issued share capital.
3