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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
1,570
1,570
xbrli:pure
xbrli:shares
iso4217:GBP
05402689
2023-04-01
2024-03-31
05402689
2024-03-31
05402689
2022-04-01
2023-03-31
05402689
2023-03-31
05402689
bus:Director2
2023-04-01
2024-03-31
05402689
core:WithinOneYear
2024-03-31
05402689
core:WithinOneYear
2023-03-31
05402689
core:ShareCapital
2024-03-31
05402689
core:ShareCapital
2023-03-31
05402689
core:OtherReservesSubtotal
2024-03-31
05402689
core:OtherReservesSubtotal
2023-03-31
05402689
core:RetainedEarningsAccumulatedLosses
2024-03-31
05402689
core:RetainedEarningsAccumulatedLosses
2023-03-31
05402689
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
05402689
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2024-03-31
05402689
bus:SmallEntities
2023-04-01
2024-03-31
05402689
bus:AuditExempt-NoAccountantsReport
2023-04-01
2024-03-31
05402689
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2023-04-01
2024-03-31
05402689
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
05402689
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
05402689
core:OfficeEquipment
2024-03-31
05402689
core:OfficeEquipment
2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
05402689
Capital Engineering Group Holdings Limited |
|
Filleted Unaudited Financial Statements |
|
Capital Engineering Group Holdings Limited |
|
Statement of Financial Position |
|
31 March 2024
Current assets
Debtors |
7 |
989,908 |
1,131,777 |
Cash at bank and in hand |
12,290 |
66,690 |
|
------------ |
------------ |
|
1,002,198 |
1,198,467 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
643,969 |
643,979 |
|
------------ |
------------ |
Net current assets |
358,229 |
554,488 |
|
--------- |
--------- |
Total assets less current liabilities |
358,229 |
554,488 |
|
--------- |
--------- |
Net assets |
358,229 |
554,488 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
1,000 |
1,000 |
Other reserves |
56,720 |
56,720 |
Profit and loss account |
300,509 |
496,768 |
|
--------- |
--------- |
Shareholders funds |
358,229 |
554,488 |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
31 December 2024
, and are signed on behalf of the board by:
Company registration number:
05402689
Capital Engineering Group Holdings Limited |
|
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheel House, 31/37 Church Street, Reigate, Surrey, RH2 0AD, UK.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements Management has not made any significant judgements in applying the entity's accounting policies. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: 1) The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. 2) The company assesses its investments for impairment on an annual basis. This involves estimating the fair value of those investments. There is no active market for the company's investments, resulting in some estimation uncertainty in determining the fair value.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
3 years straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet. 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 entity after deducting all of its financial liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2023:
1
).
5.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
1,570 |
|
------- |
Depreciation |
|
At 1 April 2023 and 31 March 2024 |
1,570 |
|
------- |
Carrying amount |
|
At 31 March 2024 |
– |
|
------- |
At 31 March 2023 |
– |
|
------- |
|
|
6.
Investments
|
Shares in group undertakings |
Other investments other than loans |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 April 2023 and 31 March 2024 |
264,959 |
50,500 |
315,459 |
|
--------- |
-------- |
--------- |
Impairment |
|
|
|
At 1 April 2023 and 31 March 2024 |
264,959 |
50,500 |
315,459 |
|
--------- |
-------- |
--------- |
|
|
|
|
Carrying amount |
|
|
|
At 31 March 2024 |
– |
– |
– |
|
--------- |
-------- |
--------- |
At 31 March 2023 |
– |
– |
– |
|
--------- |
-------- |
--------- |
|
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
345,966 |
546,008 |
Other debtors |
643,942 |
585,769 |
|
--------- |
------------ |
|
989,908 |
1,131,777 |
|
--------- |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Social security and other taxes |
– |
1 |
Loans from related parties |
642,129 |
642,128 |
Other creditors |
1,840 |
1,850 |
|
--------- |
--------- |
|
643,969 |
643,979 |
|
--------- |
--------- |
|
|
|
9.
Related party transactions
The immediate and ultimate parent company is Capital Engineering Group Holdings (2013) Limited. This company was under the control of Mr D Galway up to his death on 11 December 2023. Mr A Galway assumed control from 11 December 2023.
Capital Engineering Group Holdings Limited
has a 74% shareholding in Technical Support Services International (PTY) Limited ("TSSI SA"). No transactions have taken place with TSSI SA during the current year. It was agreed between both parties that £154,627 would be written-off. At the year end, a balance after provision for recoverability of £345,966 (2023- £498,707) was due from TSSI SA. A loan was made during the year of £nil (2023 - £35,000) to a Galson Properties Limited a company controlled by Mr A Galway and associates. At 31 March 2024 a balance of £378,237 (2023 - £378,237) was owed to CEGH Limited and interest of £7,585 (2023 - £7,234) was charged on that loan in the year. Working capital advances were made to the company by Lindenhall Investments Limited a company under common control. As at 31 March 2024 the amount due was £642,129 (2023 - £642,129). Within Other Debtors is a balance of £95,715 (2023 - £95,715) owed to CEGH Limited from Lindenhall Investments Limited. Short term cash advances were made to Hands on Skills Training Limited, a company under common control, on which interest was charged totaling £nil (2023 - £77). Other trading transactions occur with HOST Limited and at year ended 31 March 2024 Hands on Skills Training owed HOST Limited a balance of £nil (2023 - £10,756). No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 section 1A.
10.
Controlling party
The immediate and ultimate parent company is Capital Engineering Group Holdings (2013) Limited, a company incorporated in England and Wales under registration number 08584840. The group accounts of Capital Engineering Group Holdings (2013) Limited is the smallest and largest group in which the results of the company are consolidated. Copies of the group accounts are available from Companies House, Cardiff. Capital Engineering Group Holdings (2013) Limited is controlled by Mr A L Galway.