IRIS Accounts Production v23.3.0.418 06415479 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064154792022-02-28064154792023-02-28064154792022-03-012023-02-28064154792021-02-28064154792021-03-012022-02-28064154792022-02-2806415479ns10:Originalns15:EnglandWales2022-03-012023-02-2806415479ns14:PoundSterlingns10:Original2022-03-012023-02-2806415479ns10:Originalns10:Director12022-03-012023-02-2806415479ns10:Original2022-03-012023-02-2806415479ns10:Original2023-02-2806415479ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2806415479ns10:Originalns10:SmallEntities2022-03-012023-02-2806415479ns10:Originalns10:AuditExemptWithAccountantsReport2022-03-012023-02-2806415479ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2806415479ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2806415479ns10:Originalns10:FullAccounts2022-03-012023-02-2806415479ns10:Originalns10:Director22022-03-012023-02-2806415479ns10:CompanySecretary1ns10:Original2022-03-012023-02-2806415479ns10:Originalns10:RegisteredOffice2022-03-012023-02-2806415479ns10:Original2022-02-2806415479ns10:Originalns5:CurrentFinancialInstruments2023-02-2806415479ns10:Originalns5:CurrentFinancialInstruments2022-02-2806415479ns10:Originalns5:Non-currentFinancialInstruments2023-02-2806415479ns10:Originalns5:Non-currentFinancialInstruments2022-02-2806415479ns5:ShareCapitalns10:Original2023-02-2806415479ns5:ShareCapitalns10:Original2022-02-2806415479ns10:Originalns5:SharePremium2023-02-2806415479ns10:Originalns5:SharePremium2022-02-2806415479ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2806415479ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2806415479ns10:Original2021-03-012022-02-2806415479ns10:Originalns5:LandBuildings2022-02-2806415479ns10:Originalns5:PlantMachinery2022-02-2806415479ns10:Original2022-02-2806415479ns10:Originalns5:LandBuildings2022-03-012023-02-2806415479ns10:Originalns5:PlantMachinery2022-03-012023-02-2806415479ns10:Originalns5:LandBuildings2023-02-2806415479ns10:Originalns5:PlantMachinery2023-02-2806415479ns10:Originalns5:LandBuildings2022-02-2806415479ns10:Originalns5:PlantMachinery2022-02-2806415479ns10:Originalns5:CostValuation2022-02-2806415479ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2806415479ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2806415479ns5:Securedns10:Original2023-02-2806415479ns5:Securedns10:Original2022-02-2806415479ns5:Secured2023-02-2806415479ns5:Secured2022-02-28
REGISTERED NUMBER: 06415479 (England and Wales)












C Y P HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






C Y P HOLDINGS LIMITED (REGISTERED NUMBER: 06415479)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6

Chartered Certified Accountants' Report 7

C Y P HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr M A Dudley
Mrs C A Dudley





SECRETARY: Mr L Dudley





REGISTERED OFFICE: Court-Y-Park
Pixley
Ledbury
Herefordshire
HR8 2RW





REGISTERED NUMBER: 06415479 (England and Wales)





ACCOUNTANTS: Lockett & Co
Chartered Certified Accountants
Shelton House
Coningsby Street
Hereford
Herefordshire
HR1 2DY

C Y P HOLDINGS LIMITED (REGISTERED NUMBER: 06415479)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,766,139 3,864,190
Investments 5 1,502,036 1,502,036
5,268,175 5,366,226

CURRENT ASSETS
Debtors 6 12,318 1,966
Cash at bank 189,125 195,252
201,443 197,218
CREDITORS
Amounts falling due within one year 7 1,055,794 612,207
NET CURRENT LIABILITIES (854,351 ) (414,989 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,413,824

4,951,237

CREDITORS
Amounts falling due after more than one
year

8

(484,627

)

(1,489,109

)

PROVISIONS FOR LIABILITIES (40,954 ) (67,815 )
NET ASSETS 3,888,243 3,394,313

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,354,999 1,354,999
Retained earnings 2,533,144 2,039,214
3,888,243 3,394,313

C Y P HOLDINGS LIMITED (REGISTERED NUMBER: 06415479)

BALANCE SHEET - continued
28 FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





Mr M A Dudley - Director


C Y P HOLDINGS LIMITED (REGISTERED NUMBER: 06415479)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

C Y P Holdings 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about C Y P Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover represents rental income and management and service charges received or receivable by the company.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset less its estimated residual value over its estimated useful life.

Freehold property- 2% on cost
Plant and machinery- 10% on reducing balance
Fixtures, fittings and equipment- 20% on reducing balance

Government grants
Government grants are recognised using the accrual model. Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

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

Financial instruments
Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument.

Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Loans are initially recognised at the transaction price including transaction costs. Subsequent to initial recognition, loans are stated at amortised cost using the effective interest rate method, less impairment.

C Y P HOLDINGS LIMITED (REGISTERED NUMBER: 06415479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 4,782,556 501,012 5,283,568
Additions - 1,132 1,132
At 28 February 2023 4,782,556 502,144 5,284,700
DEPRECIATION
At 1 March 2022 1,073,798 345,580 1,419,378
Charge for year 83,154 16,029 99,183
At 28 February 2023 1,156,952 361,609 1,518,561
NET BOOK VALUE
At 28 February 2023 3,625,604 140,535 3,766,139
At 28 February 2022 3,708,758 155,432 3,864,190

C Y P HOLDINGS LIMITED (REGISTERED NUMBER: 06415479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 1,502,036
NET BOOK VALUE
At 28 February 2023 1,502,036
At 28 February 2022 1,502,036

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 12,318 1,966

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 142,628 137,116
Trade creditors 12,246 4,310
Amounts owed to group undertakings 744,014 292,226
Taxation and social security 66,977 92,478
Other creditors 89,929 86,077
1,055,794 612,207

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 360,627 1,305,109
Other creditors 124,000 184,000
484,627 1,489,109

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 503,255 1,442,225
Other creditors 184,000 244,000
687,255 1,686,225

The bank borrowing is secured by legal charges, a debenture and cross company guarantees with the subsidiary undertakings.
Other secured creditors relates to a debenture loan which is secured by a debenture.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
C Y P HOLDINGS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C Y P Holdings Limited for the year ended 28 February 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of C Y P Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C Y P Holdings Limited and state those matters that we have agreed to state to the Board of Directors of C Y P Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that C Y P Holdings 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 profit of C Y P Holdings Limited. You consider that C Y P Holdings 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 C Y P Holdings 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.






Lockett & Co
Chartered Certified Accountants
Shelton House
Coningsby Street
Hereford
Herefordshire
HR1 2DY


29 November 2023