Captivate_Group_Limited - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Captivate Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units EFG, Ground Floor, Zetland House 5-25 Scrutton Street, London, England, EC2A 4HJ.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The directors have considered the ongoing impact of COVID-19, and the various measures taken to contain it, on the operations of the business in the near future. trueThe directors will continue to monitor the government announcements and act accordingly, whilst ensuring the long-term viability of the business.

Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

The average monthly number of persons (including directors) employed by the company during the year was 7 (2020 - 8).

During the year, the company purchased 72.5% of the share capital in Reform The Fold Limited, a newly incorporated company.

During the year, the company's shareholding in in Stir Public Relations Limited was diluted from 100% to 90%.

During the year, the company disposed of its 39.29% shareholding in Missouri One Limited.

These financial statements are separate company financial statements for Captivate Group Limited.

Details of the company's subsidiaries at 31 December 2021 are as follows:

Sums distributed by the company in or in respect of any financial year shall be apportioned amongst the 'A', 'B', and 'C' Ordinary shareholders in proportion to the numbers of such shares held by them respectively. On a return of capital on liquidation or otherwise the surplus assets remaining after payment of liabilities shall be distributed amongst the 'A', 'B' and 'C' Ordinary shareholders in proportion to the numbers of Ordinary shares held by them respectively. The 'A', 'B' and 'C' Ordinary shareholders are entitled to vote and have one vote for every ordinary share held.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The company has taken advantage of the exemption available in FRS 102 Section 33 "Related party disclosures" whereby it has not disclosed transactions with any wholly owned subsidiary undertaking of the group.

During the year, Captivate Group Limited invoiced £nil (2020: £54,410) to Seen Presents Limited, a subsidiary, for rent, rates, central services and senior management time, and received dividends of £nil (2020: £190,000). At the year end, Seen Presents Limited was owed £nil (2020: £30,133) from Captivate Group Limited.

During the year, Captivate Group Limited invoiced £219,966 (2020: £212,266) to Missouri One Limited, a company with common directorship, for rent, rates, central services and senior management time, and received dividends of £117,856 (2020: £34,980). At the year end, Missouri One Limited owed £75,544 (2020: £6,455) to Captivate Group Limited.

During the year, Captivate Group Limited invoiced £224,616 (2020: £229,266) to Seen Displays Limited, a subsidiary, for rent, rates, central services and senior management time, received dividends of £nil (2020: £85,520) and made purchases of £34,767 (2020: £nil ). At the year end, Seen Displays Limited was owed £28,958 from (2020: £5,416 to) Captivate Group Limited.

During the year, Captivate Group Limited invoiced £174,216 (2020: £140,400) to Seen Connects Limited, a subsidiary, for rent, rates, central services and senior management time, received dividends of £734,985 (2020: £169,771) and made purchases of £245,016 (2020: £nil). At the year end, Seen Connects Limited was owed £33,255 (2020: £3,324) from Captivate Group Limited.

During the year, Captivate Group Limited invoiced £194,616 (2020: £206,216) to Stir Public Relations Limited, a subsidiary, for rent, rates, central services and senior management time, received dividends of £306,162 (2020: £500,000) and made purchases of £179,000 (2020: £nil). At the year end, Stir Public Relations Limited was owed £17,099 (2020: £3,684) from Captivate Group Limited.

During the year, Captivate Group Limited invoiced Reform The Fold Limited, a subsidiary, £nil for rent, rates, central services and senior management time. Captivate Group Limited invoiced £195,120 to Reform The Fold Limited for pass-through expenditure, to include salaries and adhoc business expenditure. At the year end, Reform The Fold Limited owed £67,295 (2020: £nil) to Captivate Group Limited. This includes a loan issued of £50,000.

The company has no parent undertaking and no controlling entity.