Company Registration No. 00747957 (England and Wales)
CAPITAL GROUP RESTAURANTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
CAPITAL GROUP RESTAURANTS LIMITED
COMPANY INFORMATION
Directors
E Soukiassian
R Chiu
Secretary
V Afsaripour
Company number
00747957
Registered office
22-24 Basil Street
London
SW3 1AT
Accountants
Glazers
843 Finchley Road
London
NW11 8NA
CAPITAL GROUP RESTAURANTS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 6
CAPITAL GROUP RESTAURANTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2020.
Principal activities
The company continued to be dormant in the current year.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
E Soukiassian
R Chiu
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
R Chiu
Director
15 September 2021
CAPITAL GROUP RESTAURANTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CAPITAL GROUP RESTAURANTS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Capital Group Restaurants Limited for the year ended 31 December 2020 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Capital Group Restaurants Limited, as a body, in accordance with the terms of our engagement letter dated 30 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Capital Group Restaurants Limited
and state those matters that we have agreed to state to the Board of Directors of Capital Group Restaurants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Capital Group Restaurants Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Capital Group Restaurants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and result
of Capital Group Restaurants Limited. You consider that Capital Group Restaurants Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Capital Group Restaurants Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Glazers
17 September 2021
Chartered Accountants
843 Finchley Road
London
NW11 8NA
CAPITAL GROUP RESTAURANTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 3 -
2020
2019
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(516,384)
(516,384)
Net current liabilities
(516,384)
(516,384)
Capital and reserves
Called up share capital
4
2
2
Profit and loss reserves
(516,386)
(516,386)
Total equity
(516,384)
(516,384)
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 September 2021 and are signed on its behalf by:
R Chiu
Director
Company Registration No. 00747957
CAPITAL GROUP RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
1
Accounting policies
Company information
Capital Group Restaurants Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
22-24 Basil Street, London, SW3 1AT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The Group has obtained confirmation from Warwick Amusement Corporation (a US parent company) that it will continue to provide such financial support as the company requires for its continued operations for a period of not less than one year from the issuance and signing of these financial statements.
true
1.3
Profit and loss account
The company has not traded during the year or the preceding financial period. During
this time,
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
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.
CAPITAL GROUP RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities
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
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, 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
paymen
ts 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. A
m
ounts 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.
1.6
Equity instruments
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.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings
516,384
516,384
CAPITAL GROUP RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 6 -
4
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
5
Financial commitments, guarantees and contingent liabilities
Commitments
The
c
ompany has a contingent liability in respect of a Group registration for VAT which at 31
December 2020 amounted to £Nil (2019: £90,490).
6
Parent company
The immediate parent undertaking is The Capital Group Limited, a company incorporated in England
and Wales.
The ultimate
parent undertaking is Warwick Holdings S.A. a
company incorporated in Luxembourg.
The smallest group in which the results of
the company are consolidated is Warwick Hotel Cambridge
Limited, registered address 22-24 Basil Street, London, England, SW3 lAT. Copies of
the financial
statements of
Warwick Hotel Cambridge
Limited are available from Companies House.
The directors consider
Richard Chiu to be
the ultimate controlling party.