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Registered number: 13142106









CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 
 
COMPANY INFORMATION


Directors
D S Levin 
A M Rajwan 




Company secretary
D S Levin



Registered number
13142106



Registered office
101 New Cavendish Street
1st Floor South

London

W1W 6XH




Independent auditors
Harris & Trotter LLP
Chartered Accountants & Statutory Auditors

101 New Cavendish Street

1st Floor South

London

W1W 6XH





 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 

CONTENTS



Page
Strategic Report
1
Directors' Report
2 - 3
Independent Auditors' Report
4 - 7
Statement of Comprehensive Income
8
Statement of Financial Position
9 - 10
Statement of Changes in Equity
11
Statement of Cash Flows
12
Analysis of Net Debt
13
Notes to the Financial Statements
14 - 18


 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Introduction
 
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.

Business review
 
The key financial highlights for the year are as follows
ole6d87.png
The directors are satisfied with the overall performance of the company for the year.

Principal risks and uncertainties
 
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.



A M Rajwan
Director

Page 1

 
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.

Directors

The directors who served during the year were:

D S Levin 
A M Rajwan 

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 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 2006They 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.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsHarris & Trotter LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 2

 
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 17 March 2025 and signed on its behalf.
 





A M Rajwan
Director

Page 3

 
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)
 

Opinion


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 policiesThe 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).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 June 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


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.


Conclusions relating to going concern


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.


Page 4

 
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)


Other information


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 ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

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.


Matters on which we are required to report by exception
 

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.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime


Page 5

 
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)


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

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.


Page 6

 
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)


Use of our report
 

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 2006Our 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.





Jamie Taylor (Senior Statutory Auditor)
  
for and on behalf of
Harris & Trotter LLP
 
Chartered Accountants
Statutory Auditors
  
101 New Cavendish Street
1st Floor South
London
W1W 6XH

17 March 2025
Page 7

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
Note
£
£

  

Turnover
  
483,502
509,249

Gross profit
  
483,502
509,249

Administrative expenses
  
(493,517)
(538,783)

Operating loss
  
(10,015)
(29,534)

Interest receivable and similar income
  
34,182
13,403

Profit/(loss) before tax
  
24,167
(16,131)

Tax on profit/(loss)
  
(6,159)
(4,023)

Profit/(loss) for the financial year
  
18,008
(20,154)

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 14 to 18 form part of these financial statements.

Page 8

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
REGISTERED NUMBER: 13142106

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,242
1,710

Investments
  
87,015
-

  
88,257
1,710

Current assets
  

Debtors: amounts falling due within one year
 6 
631,360
49,617

Cash at bank and in hand
 7 
531,792
1,082,948

  
1,163,152
1,132,565

Creditors: amounts falling due within one year
 8 
(119,381)
(20,255)

Net current assets
  
 
 
1,043,771
 
 
1,112,310

Total assets less current liabilities
  
1,132,028
1,114,020

  

Net assets
  
1,132,028
1,114,020


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
1,082,028
1,064,020

  
1,132,028
1,114,020


Page 9

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
REGISTERED NUMBER: 13142106
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.




A M Rajwan
Director

The notes on pages 14 to 18 form part of these financial statements.

Page 10

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
50,000
1,084,174
1,134,174



Loss for the year
-
(20,154)
(20,154)



At 1 July 2023
50,000
1,064,020
1,114,020



Profit for the year
-
18,008
18,008


At 30 June 2024
50,000
1,082,028
1,132,028


The notes on pages 14 to 18 form part of these financial statements.

Page 11

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

Cash flows from operating activities

Profit/(loss) for the financial year
18,008
(20,154)

Adjustments for:

Depreciation of tangible assets
468
446

Interest received
(34,182)
(13,403)

Taxation charge
6,158
4,023

(Increase)/decrease in debtors
(581,743)
22,883

Increase/(decrease) in creditors
96,991
(506,187)

Corporation tax (paid)
(4,023)
(253,942)

Net cash generated from operating activities

(498,323)
(766,334)


Cash flows from investing activities

Purchase of tangible fixed assets
-
(437)

Purchase of unlisted and other investments
(87,015)
-

Interest received
34,182
13,403

Net cash from investing activities

(52,833)
12,966


Net (decrease) in cash and cash equivalents
(551,156)
(753,368)

Cash and cash equivalents at beginning of year
1,082,948
1,836,316

Cash and cash equivalents at the end of year
531,792
1,082,948


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
531,792
1,082,948

531,792
1,082,948


The notes on pages 14 to 18 form part of these financial statements.

Page 12

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2024




At 1 July 2023
Cash flows
At 30 June 2024
£

£

£

Cash at bank and in hand

1,082,948

(551,156)

531,792

Debt due within 1 year

(288)

251

(37)


1,082,660
(550,905)
531,755

The notes on pages 14 to 18 form part of these financial statements.

Page 13

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

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

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 14

 
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)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Office equipment
-
5 years

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 15

 
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)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
4
4

Page 16

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2023
2,338



At 30 June 2024

2,338



Depreciation


At 1 July 2023
628


Charge for the year on owned assets
468



At 30 June 2024

1,096



Net book value



At 30 June 2024
1,242



At 30 June 2023
1,710


5.


Fixed asset investments





Listed investments

£



Cost or valuation


Additions
87,015



At 30 June 2024
87,015




Page 17

 
CLIM PLC (FORMERALLY KNOWN AS CAPITAL LONDON INVESTMENT MANAGEMENT PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
580,202
-

Other debtors
45,315
4,100

Called up share capital not paid
-
37,500

Prepayments and accrued income
5,843
8,017

631,360
49,617



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
531,792
1,082,948

531,792
1,082,948



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
6,158
4,023

Other taxation and social security
107,459
10,944

Other creditors
477
288

Accruals and deferred income
5,287
5,000

119,381
20,255


 
Page 18