Investcorp Carlton MH Acquisition Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10th Floor, 110 Cannon Street, London, EC4N 6EU.
The financial statements are presented for the period from incorporation on 30 March 2023 to 30 June 2024.
The financial statements are prepared in Euros, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.
Revenue is recognised when it is probable that future economic benefits will flow to the company and these benefits can be measured reliably. The company's turnover consists primarily of profit share derived from its holding of investment in another entity. Revenue is recognised when distribution is agreed and received from management of underlying investments.
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.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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, including creditors and loans from fellow group companies 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.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
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 average monthly number of persons employed by the company during the period was:
Subordinated unsecured loan notes of €14.8 million were issued during the period.
The interest expensed for the period is calculated by applying an effective interest rate of 9.3% to the liability component of the loan notes. The liability component is measured at amortised cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the statement of financial position represents the effective interest rate less interest paid to that date.
On 30 March 2023, 100 ordinary shares of £0.01 each were issued at par. The shares have full rights to voting, dividend and capital (including on a winding up). The shares are not redeemable.
On 06 April 2023, 2,659,088 ordinary shares of €1 each were issued at par.
On 18 August 2023, 2,662 ordinary shares of €1 each were issued at par.
On 05 April 2024, 2,281,500 ordinary shares of €1 each were issued at par.
Each share has full rights in the company with respect to voting, dividends and distributions.
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
The company has taken advantage of the exemption available in accordance with Section 1 AC.35 of Financial Reporting Standard 102 "Related party disclosures" and has not disclosed transactions entered into between wholly owned group members.