Company Registration No. 14208294 (England and Wales)
CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LB GROUP
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
7,600,000
7,600,000
Current assets
Debtors
5
100
100
Creditors: amounts falling due within one year
6
(800,000)
(1,100,000)
Net current liabilities
(799,900)
(1,099,900)
Total assets less current liabilities
6,800,100
6,500,100
Creditors: amounts falling due after more than one year
7
(3,995,000)
(4,600,000)
Net assets
2,805,100
1,900,100
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,805,000
1,900,000
Total equity
2,805,100
1,900,100

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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.

CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
Mr K M Duke
Mr R J Foley
Director
Director
Mr C S Metcalf
Director
Company registration number 14208294 (England and Wales)
CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Cape (Electrical & Mechanical) Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Swift House, Ground Floor, 18 Hoffmanns Way, Chelmsford, Essex, UK, CM1 1GU.

1.1
Reporting period

These are the first set of financial statements presented by the company. The accounting reference date has been shortened so as to align with the rest of the group, covering a 9 month period, Therefore, the results reported will not be wholly comparable to those in the future.

1.2
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.

1.3
Going concern

The company is in a net current liability position of £799,900 at the balance sheet date, with this amount being deferred consideration owed to the vendors of Cape (Electrical & Mechanical) Holdings Limitedtrue

 

The directors have a reasonable expectation that the company has adequate resources and support to continue in operational existence for the foreseeable future, being at least 12 months from the date of signing these financial statements.

 

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
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.

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

CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Where a reasonable and consistent basis of allocation can be identified, assets are allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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.

1.7
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 statement of financial position 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.

1.8
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.

CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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:

2024
2023
Number
Number
Total
3
3

The employees are the directors of the company who are remunerated through indirect subsidiary company, Cape (Electrical & Mechanical) Ltd.

4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
7,600,000
7,600,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
100
100
CAPE (ELECTRICAL & MECHANICAL) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
800,000
1,100,000
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,995,000
4,600,000
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
600,000
1,400,000
8
Directors' transactions

No guarantees have been given or received.

2024-03-312023-04-01false07 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr K M DukeMr R J FoleyMr C S Metcalffalsefalse142082942023-04-012024-03-31142082942024-03-31142082942023-03-3114208294core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3114208294core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3114208294core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3114208294core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3114208294core:ShareCapital2024-03-3114208294core:ShareCapital2023-03-3114208294core:RetainedEarningsAccumulatedLosses2024-03-3114208294core:RetainedEarningsAccumulatedLosses2023-03-3114208294bus:Director12023-04-012024-03-3114208294bus:Director22023-04-012024-03-3114208294bus:Director32023-04-012024-03-31142082942022-07-012023-03-3114208294core:WithinOneYear2024-03-3114208294core:WithinOneYear2023-03-3114208294core:CurrentFinancialInstruments2024-03-3114208294core:CurrentFinancialInstruments2023-03-3114208294core:Non-currentFinancialInstruments2024-03-3114208294core:Non-currentFinancialInstruments2023-03-3114208294bus:PrivateLimitedCompanyLtd2023-04-012024-03-3114208294bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3114208294bus:FRS1022023-04-012024-03-3114208294bus:AuditExemptWithAccountantsReport2023-04-012024-03-3114208294bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP