Registered number:
FOR THE YEAR ENDED 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
COMPANY INFORMATION
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
CONTENTS
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The directors present their Strategic Report together with the audited financial statements for the year ended 30 June 2024.
The business of the Capital London Investment Management PLC group is financial management.
The key financial highlights for the year are as follows
The directors are satisfied with the overall performance of the company for the year.
The company's principal risks stem from the trading performance of the business. The company manages these risks by closely monitoring their income, expenses and profitability.
This report was approved by the board on 17 March 2025 and signed on its behalf.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The directors present their report and the financial statements for the year ended 30 June 2024.
The directors who served during the year were:
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The auditors, Harris & Trotter LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
This report was approved by the board on
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
We have audited the financial statements of CLIM PLC (formerally known as Capital London Investment Management PLC) (the 'Company') for the year ended 30 June 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC) (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC) (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: • We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006. • We obtained an understanding of how the Group is complying with those legal and regulatory frameworks by making enquiries of management. • We challenged assumptions and judgements made by management in its significant accounting estimates; We did not identify any key audit matters relating to irregularities, including fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC) (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
101 New Cavendish Street
1st Floor South
W1W 6XH
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
REGISTERED NUMBER: 13142106
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
REGISTERED NUMBER: 13142106
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 14 to 18 form part of these financial statements.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Capital London Investment Management PLC is a PLC limited by shares and incorporated in England & Wales. The address of the registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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