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REGISTERED NUMBER: 03631723 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31st December 2022

for

C.P. Holdings (UK) Limited
Trading as
C.P. Group of Companies

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies






Contents of the Consolidated Financial Statements
for the Year Ended 31st December 2022




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Income and Retained
Earnings

8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 15


C.P. Holdings (UK) Limited
Trading as C.P. Group of Companies

Company Information
for the Year Ended 31st December 2022







DIRECTORS: Mr J H Watson
Mr C Monaghan
Mr M L Field





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 03631723 (England and Wales)





AUDITORS: Paul Winston Ltd
Silver Rose
Unit 21, East Lodge Village
Enfield
England
EN2 8AS

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Group Strategic Report
for the Year Ended 31st December 2022

The directors present their strategic report of the Company and the Group for the year ended 31st December 2022.

ON BEHALF OF THE BOARD:





Mr J H Watson - Director


27th September 2023

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Report of the Directors
for the Year Ended 31st December 2022

The directors present their report with the financial statements of the Company and the Group for the year ended 31st December 2022.

PRINCIPAL ACTIVITY
The principal activity of the Group in the year under review was that of the manufacture and distribution of cardboard boxes and associated packaging materials

DIVIDENDS
No interim dividends were paid during the year ended 31st December 2022.

The directors recommend final dividends per share as follows:

Ordinary Shares 1 shares £90,000
Ordinary A, B, C & D Shares 1 shares £427,636
Ordinary E, F, G, H & J Shares 1 shares £8,000

The total distribution of dividends for the year ended 31st December 2022 will be £ 525,636 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2022 to the date of this report.

Mr J H Watson
Mr C Monaghan
Mr M L Field

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements 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 and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Report of the Directors
for the Year Ended 31st December 2022


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the Group's auditors are aware of that information.

AUDITORS
The auditors, Paul Winston Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J H Watson - Director


27th September 2023

Report of the Independent Auditors to the Members of
C.P. Holdings (UK) Limited

Opinion
We have audited the financial statements of C.P. Holdings (UK) Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31st December 2022 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the Group's and of the Parent Company affairs as at 31st December 2022 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 Group's and the Parent 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.

Report of the Independent Auditors to the Members of
C.P. Holdings (UK) Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors 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 Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
- the Parent Company 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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 Group's and the Parent 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 Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
C.P. Holdings (UK) Limited


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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Detecting 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 Report of the Auditors.

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 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 a Report of the Auditors 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.




Paul Winston (Senior Statutory Auditor)
for and on behalf of Paul Winston Ltd
Silver Rose
Unit 21, East Lodge Village
Enfield
England
EN2 8AS

27th September 2023

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Consolidated Statement of Income and Retained Earnings
for the Year Ended 31st December 2022

31/12/22 31/12/21
Notes £    £    £    £   

TURNOVER 24,496,700 24,352,736

Cost of sales 17,533,927 17,604,674
GROSS PROFIT 6,962,773 6,748,062

Distribution costs 886,416 1,072,135
Administrative expenses 2,553,837 2,353,043
3,440,253 3,425,178
3,522,520 3,322,884

Other operating income 40,200 68,897
OPERATING PROFIT 4 3,562,720 3,391,781

Interest receivable and similar income 751 94
3,563,471 3,391,875

Interest payable and similar expenses 5 355,176 184,158
Other finance costs 2,481 4,147
357,657 188,305
PROFIT BEFORE TAXATION 3,205,814 3,203,570

Tax on profit 6 456,987 576,825
PROFIT FOR THE FINANCIAL YEAR 2,748,827 2,626,745

Retained earnings at beginning of year 7,396,747 4,999,906

Dividends 8 (525,636 ) (229,904 )

RETAINED EARNINGS FOR THE GROUP
AT END OF YEAR

9,619,938

7,396,747

Profit attributable to:
Owners of the parent 2,748,827 2,626,745

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Consolidated Balance Sheet
31st December 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 14,749,859 12,479,333
Investments 10 881,483 881,483
15,631,342 13,360,816

CURRENT ASSETS
Stocks 11 1,033,456 1,030,855
Debtors 12 8,415,905 13,042,775
Cash at bank and in hand 554,025 636,544
10,003,386 14,710,174
CREDITORS
Amounts falling due within one year 13 6,213,237 12,435,997
NET CURRENT ASSETS 3,790,149 2,274,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,421,491

15,634,993

CREDITORS
Amounts falling due after more than
one year

14

(7,415,774

)

(6,309,454

)

PROVISIONS FOR LIABILITIES 17 (1,018,910 ) (561,923 )
NET ASSETS 10,986,807 8,763,616

CAPITAL AND RESERVES
Called up share capital 18 509 509
Fair value reserve 19 1,366,360 1,366,360
Retained earnings 19 9,619,938 7,396,747
SHAREHOLDERS' FUNDS 10,986,807 8,763,616

The financial statements were approved by the Board of Directors and authorised for issue on 27th September 2023 and were signed on its behalf by:



Mr J H Watson - Director


C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Company Balance Sheet
31st December 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 46,157 39,184
Investments 10 886,585 886,585
932,742 925,769

CURRENT ASSETS
Debtors 12 2,486,166 969,459
Cash at bank 104,056 87,289
2,590,222 1,056,748
CREDITORS
Amounts falling due within one year 13 3,149,356 1,615,060
NET CURRENT LIABILITIES (559,134 ) (558,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,608

367,457

CREDITORS
Amounts falling due after more than
one year

14

(16,922

)

(9,460

)

PROVISIONS FOR LIABILITIES 17 (3,369 ) (4,250 )
NET ASSETS 353,317 353,747

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Company Balance Sheet - continued
31st December 2022

31/12/22 31/12/21
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 18 509 509
Retained earnings 19 352,808 353,238
SHAREHOLDERS' FUNDS 353,317 353,747

Company's profit for the financial year 525,206 230,118


The financial statements were approved by the Board of Directors and authorised for issue on 27th September 2023 and were signed on its behalf by:





Mr J H Watson - Director


C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Consolidated Cash Flow Statement
for the Year Ended 31st December 2022

31/12/22 31/12/21
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,731,623 970,352
Interest paid (222,465 ) (95,913 )
Interest element of hire purchase
payments paid

(135,192

)

(92,392

)
Tax paid (477,370 ) (152,469 )
Net cash from operating activities 3,896,596 629,578

Cash flows from investing activities
Purchase of tangible fixed assets (3,078,110 ) (5,017,205 )
Sale of tangible fixed assets 33,297 142,398
Interest received 751 94
Net cash from investing activities (3,044,062 ) (4,874,713 )

Cash flows from financing activities
New loans in year - 5,232,708
Loan repayments in year (2,704,188 ) -
Capital repayments in year 1,959,349 (255,217 )
Amount introduced by directors 269,627 -
Amount withdrawn by directors - (261,027 )
Equity dividends paid (525,636 ) (229,904 )
Net cash from financing activities (1,000,848 ) 4,486,560

(Decrease)/increase in cash and cash equivalents (148,314 ) 241,425
Cash and cash equivalents at beginning
of year

2

636,544

395,119

Cash and cash equivalents at end of
year

2

488,230

636,544

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31st December 2022

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31/12/22 31/12/21
£    £   
Profit before taxation 3,205,814 3,203,570
Depreciation charges 775,334 706,289
Profit on disposal of fixed assets (1,045 ) (32,686 )
Finance costs 357,657 188,305
Finance income (751 ) (94 )
4,337,009 4,065,384
Increase in stocks (2,601 ) (329,210 )
Decrease/(increase) in trade and other debtors 4,357,243 (7,870,363 )
(Decrease)/increase in trade and other creditors (3,960,028 ) 5,104,541
Cash generated from operations 4,731,623 970,352

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 554,025 636,544
Bank overdrafts (65,795 ) -
488,230 636,544
Year ended 31st December 2021
31.12.21 1.1.21
£    £   
Cash and cash equivalents 636,544 395,119


C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31st December 2022

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.22 Cash flow At 31.12.22
£    £    £   
Net cash
Cash at bank and in hand 636,544 (82,519 ) 554,025
Bank overdrafts - (65,795 ) (65,795 )
636,544 (148,314 ) 488,230
Debt
Finance leases (1,762,077 ) (1,959,349 ) (3,721,426 )
Debts falling due within 1 year (2,798,225 ) 2,112,638 (685,587 )
Debts falling due after 1 year (5,175,238 ) 636,880 (4,538,358 )
(9,735,540 ) 790,169 (8,945,371 )
Total (9,098,996 ) 641,855 (8,457,141 )

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements
for the Year Ended 31st December 2022

1. STATUTORY INFORMATION

C.P. Holdings (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31/12/22 31/12/21
£    £   
Wages and salaries 4,319,983 4,141,103
Social security costs 13,369 7,761
Other pension costs 66,713 78,316
4,400,065 4,227,180

The average number of employees during the year was as follows:
31/12/22 31/12/21

Directors 2 2
Administration 29 45
Production 85 49
116 96

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

3. EMPLOYEES AND DIRECTORS - continued

31/12/22 31/12/21
£    £   
Directors' remuneration 48,284 37,084

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31/12/22 31/12/21
£    £   
Other operating leases 101,280 273,169
Depreciation - owned assets 330,550 305,098
Depreciation - assets on hire purchase contracts 444,782 401,191
Profit on disposal of fixed assets (1,045 ) (32,686 )
Auditors' remuneration 6,000 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31/12/22 31/12/21
£    £   
Bank interest 55,419 27,739
Bank loan interest 12,692 10,269
HMRC interest & penalties 655 1,326
Mortgage 151,218 52,432
Hire purchase 135,192 92,392
355,176 184,158

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/12/22 31/12/21
£    £   
Current tax:
UK corporation tax - 545,535

Deferred tax 456,987 31,290
Tax on profit 456,987 576,825

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
31/12/22 31/12/21
£    £   
Ordinary Shares shares of 1 each
Final 90,000 90,000
Ordinary A, B, C & D Shares shares of 1 each
Final 427,636 131,904
Ordinary E, F, G, H & J Shares shares of 1 each
Final 8,000 8,000
525,636 229,904

9. TANGIBLE FIXED ASSETS

Group
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st January 2022 8,744,595 7,591,501 70,847 16,406,943
Additions - 3,047,925 30,185 3,078,110
Disposals - (202,958 ) (38,893 ) (241,851 )
At 31st December 2022 8,744,595 10,436,468 62,139 19,243,202
DEPRECIATION
At 1st January 2022 - 3,895,947 31,663 3,927,610
Charge for year - 764,681 10,651 775,332
Eliminated on disposal - (183,267 ) (26,332 ) (209,599 )
At 31st December 2022 - 4,477,361 15,982 4,493,343
NET BOOK VALUE
At 31st December 2022 8,744,595 5,959,107 46,157 14,749,859
At 31st December 2021 8,744,595 3,695,554 39,184 12,479,333

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st January 2022 2,742,084 57,449 2,799,533
Additions 3,029,919 30,185 3,060,104
Disposals - (25,495 ) (25,495 )
Transfer to ownership (191,770 ) - (191,770 )
At 31st December 2022 5,580,233 62,139 5,642,372
DEPRECIATION
At 1st January 2022 812,567 21,466 834,033
Charge for year 434,451 10,331 444,782
Eliminated on disposal - (15,815 ) (15,815 )
Transfer to ownership (47,820 ) - (47,820 )
At 31st December 2022 1,199,198 15,982 1,215,180
NET BOOK VALUE
At 31st December 2022 4,381,035 46,157 4,427,192
At 31st December 2021 1,929,517 35,983 1,965,500

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

9. TANGIBLE FIXED ASSETS - continued

Company
Motor
vehicles
£   
COST
At 1st January 2022 70,847
Additions 30,185
Disposals (38,893 )
At 31st December 2022 62,139
DEPRECIATION
At 1st January 2022 31,663
Charge for year 10,651
Eliminated on disposal (26,332 )
At 31st December 2022 15,982
NET BOOK VALUE
At 31st December 2022 46,157
At 31st December 2021 39,184

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2022 57,449
Additions 30,185
Disposals (25,495 )
At 31st December 2022 62,139
DEPRECIATION
At 1st January 2022 21,466
Charge for year 10,331
Eliminated on disposal (15,815 )
At 31st December 2022 15,982
NET BOOK VALUE
At 31st December 2022 46,157
At 31st December 2021 35,983

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

10. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1st January 2022
and 31st December 2022 881,483
NET BOOK VALUE
At 31st December 2022 881,483
At 31st December 2021 881,483
Company
Shares in
group
undertakings
£   
COST
At 1st January 2022
and 31st December 2022 886,585
NET BOOK VALUE
At 31st December 2022 886,585
At 31st December 2021 886,585


11. STOCKS

Group
31/12/22 31/12/21
£    £   
Stocks 1,033,456 1,030,855

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/12/22 31/12/21 31/12/22 31/12/21
£    £    £    £   
Trade debtors 5,390,499 6,522,397 - (168 )
Amounts owed by group undertakings - 6,145,125 - 700,000
Other debtors 2,935,166 46,790 2,486,166 -
Directors' current accounts - 260,006 - 260,006
Directors' loan accounts - 9,621 - 9,621
Prepayments 90,240 58,836 - -
8,415,905 13,042,775 2,486,166 969,459

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/12/22 31/12/21 31/12/22 31/12/21
£    £    £    £   
Bank loans and overdrafts (see note 15) 709,904 2,752,895 - -
Other loans (see note 15) 41,478 45,330 - -
Hire purchase contracts (see note 16) 844,010 627,861 12,753 7,247
Trade creditors 3,625,531 3,598,186 5,048 2,249
Amounts owed to group undertakings - 3,925,914 2,846,354 1,152,643
Tax 116,975 594,345 - -
Social security and other taxes 76,413 82,235 28,760 40,807
VAT 531,588 418,326 54,927 61,760
Other creditors 196,064 390,905 195,514 350,354
Accrued expenses 71,274 - 6,000 -
6,213,237 12,435,997 3,149,356 1,615,060

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
31/12/22 31/12/21 31/12/22 31/12/21
£    £    £    £   
Bank loans (see note 15) 4,538,358 5,133,760 - -
Other loans (see note 15) - 41,478 - -
Hire purchase contracts (see note 16) 2,877,416 1,134,216 16,922 9,460
7,415,774 6,309,454 16,922 9,460

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

15. LOANS

An analysis of the maturity of loans is given below:

Group
31/12/22 31/12/21
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 65,795 -
Bank loans 644,109 2,752,895
Other loans 41,478 45,330
751,382 2,798,225
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,044,924 707,932
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,409,443 1,425,220
Other loans - 2-5 years - 41,478
3,409,443 1,466,698
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 83,991 3,000,608

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31/12/22 31/12/21
£    £   
Net obligations repayable:
Within one year 844,010 627,861
Between one and five years 2,877,416 1,134,216
3,721,426 1,762,077

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

16. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
31/12/22 31/12/21
£    £   
Net obligations repayable:
Within one year 12,753 7,247
Between one and five years 16,922 9,460
29,675 16,707

17. PROVISIONS FOR LIABILITIES

Group Company
31/12/22 31/12/21 31/12/22 31/12/21
£    £    £    £   
Deferred tax 1,018,910 561,923 3,369 4,250

Group
Deferred
tax
£   
Balance at 1st January 2022 561,923
Charge to Income Statement during year 456,987
Balance at 31st December 2022 1,018,910

Company
Deferred
tax
£   
Balance at 1st January 2022 4,250
Credit to Income Statement during year (881 )
Balance at 31st December 2022 3,369

C.P. Holdings (UK) Limited (Registered number: 03631723)
Trading as C.P. Group of Companies

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31st December 2022

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/22 31/12/21
value: £    £   
500 Ordinary Shares 1 500 500
4 Ordinary A, B, C & D Shares 1 4 4
5 Ordinary E, F, G, H & J Shares 1 5 5
509 509

19. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st January 2022 7,396,747 1,366,360 8,763,107
Profit for the year 2,748,827 2,748,827
Dividends (525,636 ) (525,636 )
At 31st December 2022 9,619,938 1,366,360 10,986,298

Company
Retained
earnings
£   

At 1st January 2022 353,238
Profit for the year 525,206
Dividends (525,636 )
At 31st December 2022 352,808