COMPANY REGISTRATION NUMBER:
01130761
Capital Training Group Limited
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Filleted Unaudited Financial Statements
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Capital Training Group Limited
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Statement of Financial Position
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31 March 2019
Current assets
Debtors
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4
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135,325
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1,418,309
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Cash at bank and in hand
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233,062
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88,630
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---------
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------------
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368,387
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1,506,939
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Prepayments and accrued income
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3,000
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3,000
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Creditors: amounts falling due within one year
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5
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354,391
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33,267
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---------
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------------
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Net current assets
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16,996
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1,476,672
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--------
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Total assets less current liabilities
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16,996
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1,476,672
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Accruals and deferred income
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1,996
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309,544
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--------
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Net assets
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15,000
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1,167,128
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--------
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------------
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Capital and reserves
Called up share capital
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9,232
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9,232
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Capital redemption reserve
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5,768
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5,768
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Profit and loss account
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–
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1,152,128
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--------
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Shareholders funds
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15,000
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1,167,128
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--------
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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 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 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Capital Training Group Limited
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Statement of Financial Position (continued)
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31 March 2019
These financial statements were approved by the
board of directors
and authorised for issue on
18 December 2019
, and are signed on behalf of the board by:
Company registration number:
01130761
Capital Training Group Limited
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Notes to the Financial Statements
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Year ended 31 March 2019
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.
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.
Judgements and 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: Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of the property plant and equipment. Impairment of trade debtors 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 ageing profile of debtors and historical experience.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Debtors
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2019
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2018
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£
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£
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Trade debtors
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6,382
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37,790
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Amounts owed by group undertakings and undertakings in which the company has a participating interest
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–
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1,125,102
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Other debtors
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128,943
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255,417
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---------
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135,325
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1,418,309
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The amounts due from group undertakings are all due from Capital Engineering Group Holdings Limited, are interest free and repayable on demand.
5.
Creditors:
amounts falling due within one year
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2019
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2018
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£
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£
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Trade creditors
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10,465
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32,937
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Amounts owed to group undertakings and undertakings in which the company has a participating interest
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343,926
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–
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Social security and other taxes
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–
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330
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354,391
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33,267
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6.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
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2019
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Balance brought forward
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Advances/ (credits) to the directors
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Amounts repaid
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Balance outstanding
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£
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£
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£
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£
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A L Galway
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230,000
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7,500
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(
237,500)
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–
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---------
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-------
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----
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2018
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Balance brought forward
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Advances/ (credits) to the directors
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Amounts repaid
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Balance outstanding
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£
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£
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£
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£
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A L Galway
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–
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230,000
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–
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230,000
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7.
Related party transactions
The company is ultimately controlled by D Galway, the majority shareholder in the ultimate parent company. The company transacts in the normal course of business with Hands On Skills Training Limited (HOST), a company which is 100% owned by Mr A Galway. During the year the company paid HOST £nil (2018 - £1,214) for services rendered, and a balance of £nil (2018 - £nil) was due at the balance sheet date. HOST also levied management charges on the company of £17,137 (2018 - £20,866) in respect of administrative staff.
Capital Training Group Limited
has also advanced loans to HOST. At the year end a balance of £128,401 (2018 - £96,329) was included in other debtors.
The company transacts in the normal course of business with Future Ldn Limited, a company in which S Bozzoli is a shareholder and director. S Bozzoli is also a director of the company. During the year a total of £208,795 (2018 - £616,557) was paid to Future Ldn Limited for services rendered in the normal course of business.
A balance of £6,127 (2018 - £30,940) was outstanding at the year end. The company is a wholly owned subsidiary of Capital Engineering Group Holdings (2013) Limited. The company has taken advantage of the exemption offered by FRS102 from disclosing transactions or balances with other wholly owned subsidiaries.
8.
Controlling party
The immediate parent company is Capital Engineering Group Holdings Limited, a company incorporated in England and Wales under registration number 05402689. The ultimate parent company is Capital Engineering Group Holdings (2013) Limited, a company incorporated in England and Wales under registration number 08584840. The ultimate controlling party of Capital Engineering Group Holdings (2013) Limited is Mr D L Galway.