IRIS Accounts Production v23.3.1.45 11882390 Board of Directors 30.6.23 1.7.22 30.6.23 30.6.23 provision of quality car parking and facilities management solutions to land owners. true true true false true true false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118823902022-06-30118823902023-06-30118823902022-07-012023-06-30118823902021-06-30118823902021-07-012022-06-30118823902022-06-3011882390ns10:Originalns15:EnglandWales2022-07-012023-06-3011882390ns14:PoundSterlingns10:Original2022-07-012023-06-3011882390ns10:Originalns10:Director12022-07-012023-06-3011882390ns10:Original2022-07-012023-06-3011882390ns10:Originalns10:Consolidated2023-06-3011882390ns10:Original2023-06-3011882390ns10:Originalns10:ConsolidatedGroupCompanyAccounts2022-07-012023-06-3011882390ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3011882390ns10:Originalns10:Consolidatedns10:FRS1022022-07-012023-06-3011882390ns10:Originalns10:Consolidatedns10:Audited2022-07-012023-06-3011882390ns10:Originalns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-07-012023-06-3011882390ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3011882390ns10:Originalns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-07-012023-06-3011882390ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Originalns10:Consolidated2022-07-012023-06-3011882390ns10:Originalns10:FullAccounts2022-07-012023-06-3011882390ns10:Original12022-07-012023-06-3011882390ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3011882390ns10:Originalns10:Consolidated2022-07-012023-06-3011882390ns10:Originalns10:Director22022-07-012023-06-3011882390ns10:Originalns10:Director32022-07-012023-06-3011882390ns10:Originalns10:Director42022-07-012023-06-3011882390ns10:Originalns10:RegisteredOffice2022-07-012023-06-3011882390ns10:Originalns10:Consolidated2021-07-012022-06-3011882390ns10:Original2022-06-3011882390ns10:Originalns5:CurrentFinancialInstruments2023-06-3011882390ns10:Originalns5:CurrentFinancialInstruments2022-06-3011882390ns10:Originalns5:Non-currentFinancialInstruments2023-06-3011882390ns10:Originalns5:Non-currentFinancialInstruments2022-06-3011882390ns5:ShareCapitalns10:Original2023-06-3011882390ns5:ShareCapitalns10:Original2022-06-3011882390ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3011882390ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3011882390ns5:ShareCapitalns10:Original2021-06-3011882390ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-06-3011882390ns10:Original2021-06-3011882390ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-07-012022-06-3011882390ns10:Original2021-07-012022-06-3011882390ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3011882390ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-07-012023-06-3011882390ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-07-012023-06-3011882390ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-07-012023-06-3011882390ns10:Originalns5:PlantMachinery2022-07-012023-06-3011882390ns10:Originalns5:FurnitureFittings2022-07-012023-06-3011882390ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-3011882390ns10:Originalns5:LeaseholdImprovements2022-06-3011882390ns10:Originalns5:FurnitureFittings2022-06-3011882390ns10:Original2022-06-3011882390ns10:Originalns5:LeaseholdImprovements2022-07-012023-06-3011882390ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2023-06-3011882390ns10:Originalns5:LeaseholdImprovements2023-06-3011882390ns10:Originalns5:FurnitureFittings2023-06-3011882390ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-3011882390ns10:Originalns5:LeaseholdImprovements2022-06-3011882390ns10:Originalns5:FurnitureFittings2022-06-3011882390ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3011882390ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3011882390ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2023-06-3011882390ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2022-06-3011882390ns10:Originalns5:TaxLossesCarry-forwardsDeferredTax2023-06-3011882390ns10:Originalns5:TaxLossesCarry-forwardsDeferredTax2022-06-3011882390ns10:Originalns5:DeferredTaxation2022-06-3011882390ns10:Originalns5:DeferredTaxation2022-07-012023-06-3011882390ns10:Originalns5:DeferredTaxation2023-06-3011882390ns10:Originalns10:OrdinaryShareClass12023-06-3011882390ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-30
REGISTERED NUMBER: 11882390 (England and Wales)















Trade Topco Limited

Group Strategic Report,

Directors' Report and

Consolidated Financial Statements

for the Year Ended 30 June 2023






Trade Topco Limited (Registered number: 11882390)

Contents of the Consolidated Financial Statements
for the year ended 30 June 2023










Page

Company Information 1

Group Strategic Report 2

Directors' Report 7

Independent Auditors' Report 9

Consolidated Income Statement 12

Consolidated Other Comprehensive Income 13

Consolidated Balance Sheet 14

Company Balance Sheet 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Notes to the Consolidated Cash Flow Statement 19

Notes to the Consolidated Financial Statements 20


Trade Topco Limited

Company Information
for the year ended 30 June 2023







Directors: S Green
I S Langdon
E A Green
A G Lewis





Registered office: Jack Straw's Castle
12 North End Way
London
NW3 7ES





Registered number: 11882390 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Trade Topco Limited (Registered number: 11882390)

Group Strategic Report
for the year ended 30 June 2023


The directors present their strategic report of the company and the group for the year ended 30 June 2023.

We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the year-end.

Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.

Review of business
The group's main objective is to provide a quality car park management solution to land owners and to provide the highest possible service to all our clients. To achieve this objective the strategy has been to adapt our service provision to the ever-changing needs of our clients. We believe the car park is an integral part of a customer's journey and we are committed to helping our clients understand their customer behaviour so they can respond to their customers' needs efficiently and effectively.

The GroupNexus brand is now in its fifth year and continues to build on the integration process that started when CP Plus Ltd acquired Ranger Services Ltd and Highview Parking Ltd in 2015. CP Plus Ltd trading as GroupNexus offers our clients and their customers an end-to-end solution utilising both technology and manpower to enable a smoother parking experience together with expertise that will maximise our client's potential for both revenue growth and user engagement and satisfaction.

Our strength remains our ability to continually innovate and adapt to the market's needs, using the strength of technological expertise, nationwide manpower and resources, together with the many years' experience of the client service team to create a seamless, efficient and personalised service provision to our Clients.

The directors note the following key performance indicators which are used by management to actively and effectively run the business with the joint aims of maximising stakeholder value and profitability.

Turnover
Turnover for the year ended 30 June 2023 increased by £2,919,554 or 8% (2023: £40,028,969 vs 2022: £37,109,415).

Gross profit
Gross profit for the year ended 30 June 2023 increased by £2,013,020 or 13% when compared to the previous year (2023: £17,567,707 vs 2022: £15,554,687) with our gross profit percentage increasing to 44% (2022: 42%).

Operating profit
The year to 30 June 2023 showed operating profit of £9,258,745 (2022: £5,155,458), an increase of 80% or £4,103,287.

These figures show continued strong performance post the pandemic as a result of new contract wins and the resilience of the underlying business. We continue to make significant investment in our technology and infrastructure, the return on this investment is evident in our financial performance, contract retention and customer satisfaction. Directors and senior management teams continue to explore new opportunities and technologies to support existing customers and win new contract to grow our businesses together.


Trade Topco Limited (Registered number: 11882390)

Group Strategic Report
for the year ended 30 June 2023

Principal risks and uncertainties
The principal risks to the business are:
- the maturing nature of the industry, which means that new opportunities are harder to identify.
- the potential impact of the Parking (Code of Practice) Act 2019, which may reduce the level of the maximum Parking Charge Notice tariff by more than 50%

However, due to:
- the large cross section of clients and market sectors that we operate in
- the company's tender expertise and reputation
- the investment we have made, and continue to make, in our infrastructure and technology
- our commercial model which mitigates any dependency on enforcement tariffs
- our commercial model where we are not exposed to high capital costs at increasing interest rates as we solely manage and operate car parks for landowners, we do not own the car parks we manage
- the breadth of services that we offer
- the high barriers to entry for new and existing entrants,

We feel that Trade Topco group's position is secure, and we are well placed to accelerate our growth within a fast-changing market. Trade Topco group continues to provide a full and bespoke service offering to its clients rather than focusing on one aspect of the parking solution. This approach suits our clients and enables us to stand out amongst our competitors. We continue to actively research new services and developments that we can introduce to our clients and we believe that this will lead to the company's continuing success over the short, medium and long term.

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company's operations.

Due to the nature of these financial instruments used by the company there was no exposure to price risk. The approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a healthy balance of liquid funds. The company also makes use of a mixture of overnight money market facilities as well as medium term deposits depending on the funds it has available and its forward commitments.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Whilst there is some risk attached to the supply chain and labour shortages due to various economic factors (pandemic, war, energy price, inflation), we feel that Trade Topco group has a low level of exposure to these factors. We conduct regular supply chain and stock reviews to minimise these risks as far as practicable.

Operational risks and developments

Due to the high level of staffing involved in providing the services to a number of our clients, we actively conduct training reviews and ensure that all new employees have an adequate induction period followed by ongoing training. We continue our drive to improve our systems to record the skills and development needs of all our staff.

We have the highest international Quality Standards Awards available, ISO 9001 Quality Management & ISO 14001 Environmental Management accreditations, which encompass all our procedures and operations.

General Data Protection Regulation (GDPR) was applicable from 25 May 2018. To ensure we are compliant, we conduct internal training sessions and invest in systems along with third party governance and audits to ensure that we meet our obligations.

Employee involvement
The company's policy is to consult and discuss with employees through staff councils and at meetings, matters likely to affect employee's interests. We undertake a programme of continual staff training and we always aim to meet the highest levels of skill required to deliver the service.

Disabled employees
The company's policy is to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

Trade Topco Limited (Registered number: 11882390)

Group Strategic Report
for the year ended 30 June 2023


Human Rights
The business recognises each individual's Human Rights. Following the Human Right Act and the Equality Act 2010 we ensure that we treat everyone equally and without discrimination. The business does not tolerate discrimination against employees, directly or indirectly, on the grounds of their gender, age, religion, marital status, race, social background, disability, pregnancy, ethnic and national origin, nationality, membership of worker organisations (including trade unions), political affiliation, sexual orientation, or any other personal characteristic.

Anti-corruption and bribery
The group has made all its employees aware of the Bribery Act and it is the company's policy that individuals are forbidden to give, offer, receive or solicit a bribe. We have established a zero-tolerance regime and conduct risk assessments on both the Company and its Employees during each person's annual performance review.


Trade Topco Limited (Registered number: 11882390)

Group Strategic Report
for the year ended 30 June 2023

Section 172(1) statement
The Directors of the company, as those of all UK companies, must act in accordance with a set of general duties whilst having regard to our stakeholder interests. These duties are detailed in section 172 of the UK Companies Act 2006 which states:

A Director of a company must act in a way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole and, in doing so have regard (amongst other matters) to:
- The likely consequences of any decision in the long term
- The interests of the company's employees
- The need to foster the company's business relationships with suppliers, customers and others
- The impact of the company's operations on the community and the environment
- The desirability of the company maintaining a reputation for high standards of business conduct, and
- The need to act fairly as between members of the company.

The Directors fulfil these broad duties by conducting themselves in ways which take a long term view, have consideration for our stakeholders benefit and which will continue to maintain the company's reputation for high standards and integrity. This impacts on our stakeholders as:

Employees
We know that the company is only as good as its employees and we are proud of the team that has been built up over the many years of our operation. We have a very high staff retention which demonstrates the respect we give to our team and how we try to consider their reasonable wishes when making decisions. We actively conduct rolling training for our operational staff to make sure that they are up to date with latest standards and provide other staff training on a regular basis. We engage with our team by:
- Conducting annual performance and pay reviews and consider any training needs at all staff levels
- Set pay rates at market values
- Ensure staff engagement with monthly newsletter letting people know of their colleagues achievements
- Setting up an employee forum, with individuals from each department to ensure inclusion is demonstrated, who meet regularly

GroupNexus is committed to providing a positive environment and support for our employees to maintain strong physical and mental health and have joined an Employee Assistance Programme (EAP) to provide a confidential employee benefit designed to help staff deal with personal and professional problems that could affect home or work life, health, and general wellbeing.

Customers and suppliers
We strive to provide excellent value for money services to our clients with a more hands on management style than many of our competitors. Our clients appreciate the high level of interaction and expertise that we uniquely offer. We like to provide a wide range of solutions and we are very actively investing in all our systems and products so that we remain at the forefront of market innovation in terms of the services that we roll out to our clients.

We aim to treat all our suppliers with respect and our intention is to pay before or within their payment terms. As our business has grown we have had to introduce new systems to ensure we meet this target as the number and complexity of supplier arrangements has increased. We are continuing to improve in this area.

Our community and the environment
We have grown from a small business and are still very rooted in our local community in North London. We support local charities that we feel an affinity towards. In terms of environmental care we are encouraging our clients to install electric charge points in car parks whenever possible to actively promote a greater green energy evolution and we are committed to reducing carbon emissions where possible. We try to select products in our Facilities Management department that are as environmentally friendly as possible.

With the advent of home working we support our staff to positively embrace this way of working for the benefit of their community and the reduced travel effect on our environment.

High standards
As a group we pride ourselves on continually achieving the very highest professional standards that apply to our industry sector. We have the highest international Quality & Environmental Standard Awards available, ISO 9001:2015 & ISO 1400:2015, which encompass all our procedures, operations and objectives.

This also means that we are fully compliant with BS 10800:2020 Provision of security services, BS 7499:2020 Provision of static guarding security services, BS 7858:2019 Screening of individuals working in a secure environment, BS7958: 2015 Closed Circuit Television (CCTV), Management and Operation.


Trade Topco Limited (Registered number: 11882390)

Group Strategic Report
for the year ended 30 June 2023

As well as being members of the BPA (British Parking Association), CP Plus is a founder member of the BPA's Approved Operator Scheme (AOS) and were instrumental in formulating the Code of Practice that bona fide car park management companies operate under and ensures that all drivers are treated fairly. CP Plus (trading as GroupNexus) is also an SIA Approved Contractor Scheme for the delivery of Security Guarding & CCTV Services throughout the UK.

Our company is also accredited, under the SSIP umbrella, to Safe Contractor Health & Safety and PQQ which verifies our business against key business sustainability topics which include health and safety, equal opportunities, diversity, anti-bribery, GDPR and environmental management policies.

In addition, we hold Cyber Essentials Plus certification.

On behalf of the board:





E A Green - Director


11 January 2024

Trade Topco Limited (Registered number: 11882390)

Directors' Report
for the year ended 30 June 2023


The directors present their report with the financial statements of the company and the group for the year ended 30 June 2023.

Dividends
No dividends will be distributed for the year ended 30 June 2023.

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

S Green
I S Langdon
E A Green

Other changes in directors holding office are as follows:

A G Lewis - appointed 4 May 2023

Political donations and expenditure
Charitable donations during the year totalled £122,786 (2022: £47,200). No donations were made to political parties.

Auditors
The audit business of Haines Watts London LLP was acquired by Cooper Parry Group Limited on 14 November 2023. Haines Watts London LLP has resigned as auditor and Cooper Parry Group Limited has been appointed in its place.

Streamlined energy and carbon reporting
The period covered by SECR is 1 July 2022 to 30 June 2023 and calculations have been made for the following scopes:
- Building related energy - electricity (scope 2)
- Transport related energy - company vehicles (scope 1)
- Transport related energy - employee owned vehicles (scope 3)

Calculation methodology:
In order to calculate emissions ‘2023 UK Government GHG Conversion Factors for Company Reporting’ have been used for all calculations. Calculated GHG emissions have been rounded to 1 decimal place.

Data Source - Consumption Data:
Electricity (scope 2) data used for the reporting period was collated directly by the group in the form of monthly meter reading.

Transport data was collated by the group and provided directly to Green Energy Consulting.

GHG Emissions & Energy Use Data:
Current year 01/07/22
to 30/06/23
Comparative year
01/07/21 to 30/06/22
Gas (kWh) N/A 5,133
Electricity (kWh) 24,300 61,874
Transportation (kWh) 1,013,462 976,722
Emissions from combustion of gas, tCO2e (Scope 1) N/A 0.9
Emissions from combustion of fuel for transport purposes,
tCO2e (Scope 1)
239.4 237.1
Emissions from business travel in rental cars or
employee-owned vehicles where company is responsible for
purchasing the fuel, tCO2e(Scope 3)
2.4 2.7
Emissions from purchased electricity, tCO2e (Scope 2,
location-based)
5.0 12.0
Total gross CO2e based on above, tCO2e 246.8 252.7
Intensity ratio: tCO2e/Employee (304 employees) 0.6 0.5
Methodology UK Government GHG
Conversion Factors for
Company Reporting
UK Government GHG
Conversion Factors
for Company
Reporting


Trade Topco Limited (Registered number: 11882390)

Directors' Report
for the year ended 30 June 2023

Over the accounting year, the group consumed 1,037,762 kWh, (comprised of: electric - 24,300 kWh; and transport - 1,013,462 kWh).

This equates to GHG emissions of 246.8 tonnes of CO2 equivalent. Scope 1 emissions accounted for 97% of total emissions, while scope 2 and 3 emissions made up of 2% and 1% respectively.

An intensity ratio of 0.6 tCO2e per employee has been calculated. This is based on staff numbers of 408.

Energy Efficiency Action Undertaken Between 01/07/22 to 30/06/23:
Over the financial year, the group have carried out the following energy efficiency action:

The Group has fully moved into a fully refurbished office at Jack Straws Castle. The new office has the following:

- PIR lights in all store rooms & bathrooms
- New Heating & Ventilation system fully maintained.
- New Electric Boiler for heating water.
- Moving away from Diesel Vans & cars to Petrol as and when lease expires.
- Signed a new uniform recycling contract.
- Replaced all lighting to LED following on from the refurbishment after the flood.
- Reduced their paper usage by removing all individual printers and encouraging staff not to print.

Statement of directors' responsibilities
The directors are responsible for preparing the Group Strategic Report, the Directors' Report 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;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- 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.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

On behalf of the board:





E A Green - Director


11 January 2024

Independent Auditors' Report to the Members of
Trade Topco Limited


Opinion
We have audited the financial statements of Trade Topco Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, 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 30 June 2023 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Independent Auditors' Report to the Members of
Trade Topco Limited


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 Directors' Report.

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, 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.

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 an Auditors' Report 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.

We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, and considered the risk of acts by the Company that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our tests include agreeing the financial statement disclosures to underlying supporting documentation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. In assessing the potential risks of material misstatement we obtained an understanding of; the entities operations, including the nature of its revenue sources and services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. We did not identify any matters relating to non-compliance with laws and regulations relating to 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 Auditors' Report.

Independent Auditors' Report to the Members of
Trade Topco Limited


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 an Auditors' Report 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.




Jonathan Moughton (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

11 January 2024

Trade Topco Limited (Registered number: 11882390)

Consolidated
Income Statement
for the year ended 30 June 2023

2023 2022
Notes £ £

Turnover 3 40,028,969 37,109,415

Cost of sales (22,461,262 ) (21,554,728 )
Gross profit 17,567,707 15,554,687

Administrative expenses (8,308,962 ) (10,440,485 )
9,258,745 5,114,202

Other operating income - 41,256
Operating profit 9,258,745 5,155,458

Interest receivable and similar income 510,595 265,129
9,769,340 5,420,587

Interest payable and similar expenses 7 (480,729 ) (611,468 )
Profit before taxation 8 9,288,611 4,809,119

Tax on profit 9 (1,221,747 ) (603,793 )
Profit for the financial year 8,066,864 4,205,326
Profit attributable to:
Owners of the parent 7,751,814 4,198,882
Non-controlling interests 315,050 6,444
8,066,864 4,205,326

Trade Topco Limited (Registered number: 11882390)

Consolidated
Other Comprehensive Income
for the year ended 30 June 2023

2023 2022
Notes £ £

Profit for the year 8,066,864 4,205,326


Other comprehensive income
Foreign Exchange (123,374 ) (80,136 )
Income tax relating to other comprehensive
income

-

-
Other comprehensive income for the year,
net of income tax

(123,374

)

(80,136

)
Total comprehensive income for the year 7,943,490 4,125,190

Total comprehensive income attributable to:
Owners of the parent 7,628,440 4,118,746
Non-controlling interests 315,050 6,444
7,943,490 4,125,190

Trade Topco Limited (Registered number: 11882390)

Consolidated Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 11 2,525,218 1,931,655
Tangible assets 12 5,102,220 5,114,837
Investments 13 - -
Investment property 14 3,500,000 -
11,127,438 7,046,492

Current assets
Stocks 15 538,934 3,904,829
Debtors 16 11,894,465 12,430,056
Cash at bank and in hand 17,335,294 10,487,531
29,768,693 26,822,416
Creditors
Amounts falling due within one year 17 15,293,736 16,091,940
Net current assets 14,474,957 10,730,476
Total assets less current liabilities 25,602,395 17,776,968

Creditors
Amounts falling due after more than one
year

18

(13,022,897

)

(13,056,487

)

Provisions for liabilities 21 - (84,473 )
Net assets 12,579,498 4,636,008

Capital and reserves
Called up share capital 22 32,939 32,939
Retained earnings 23 12,543,191 4,914,751
Shareholders' funds 12,576,130 4,947,690

Non-controlling interests 24 3,368 (311,682 )
Total equity 12,579,498 4,636,008

The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2024 and were signed on its behalf by:





E A Green - Director


Trade Topco Limited (Registered number: 11882390)

Company Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 11 - -
Tangible assets 12 3,142,395 3,295,432
Investments 13 28,033,161 28,033,161
Investment property 14 - -
31,175,556 31,328,593

Current assets
Debtors 16 89,222 21,618
Cash in hand 143,785 112,018
233,007 133,636
Creditors
Amounts falling due within one year 17 21,596,379 20,699,590
Net current liabilities (21,363,372 ) (20,565,954 )
Total assets less current liabilities 9,812,184 10,762,639

Creditors
Amounts falling due after more than one
year

18

(12,999,920

)

(12,999,921

)

Provisions for liabilities 21 - (105,237 )
Net liabilities (3,187,736 ) (2,342,519 )

Capital and reserves
Called up share capital 22 32,939 32,939
Retained earnings 23 (3,220,675 ) (2,375,458 )
Shareholders' funds (3,187,736 ) (2,342,519 )

Company's loss for the financial year (845,217 ) (1,235,613 )

The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2024 and were signed on its behalf by:





E A Green - Director


Trade Topco Limited (Registered number: 11882390)

Consolidated Statement of Changes in Equity
for the year ended 30 June 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£ £ £ £ £
Balance at 1 July 2021 32,939 753,462 786,401 (275,583 ) 510,818

Changes in equity
Total comprehensive income - 4,118,746 4,118,746 6,444 4,125,190
Change in ownership interests
in subsidiaries that do not
result in loss of control - 42,543 42,543 (42,543 ) -
Balance at 30 June 2022 32,939 4,914,751 4,947,690 (311,682 ) 4,636,008

Changes in equity
Total comprehensive income - 7,628,440 7,628,440 315,050 7,943,490
Balance at 30 June 2023 32,939 12,543,191 12,576,130 3,368 12,579,498

Trade Topco Limited (Registered number: 11882390)

Company Statement of Changes in Equity
for the year ended 30 June 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 July 2021 32,939 (1,139,845 ) (1,106,906 )

Changes in equity
Total comprehensive income - (1,235,613 ) (1,235,613 )
Balance at 30 June 2022 32,939 (2,375,458 ) (2,342,519 )

Changes in equity
Total comprehensive income - (845,217 ) (845,217 )
Balance at 30 June 2023 32,939 (3,220,675 ) (3,187,736 )

Trade Topco Limited (Registered number: 11882390)

Consolidated Cash Flow Statement
for the year ended 30 June 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 12,632,072 8,519,144
Interest paid (480,729 ) (611,468 )
Tax paid (1,580,613 ) (371,144 )
Net cash from operating activities 10,570,730 7,536,532

Cash flows from investing activities
Purchase of intangible fixed assets (2,136,782 ) (2,259,025 )
Purchase of tangible fixed assets (554,460 ) (46,059 )
Interest received 510,595 265,129
Net cash from investing activities (2,180,647 ) (2,039,955 )

Cash flows from financing activities
Loan repayments in year (118,945 ) (2,500,000 )
New loans in year - 171,515
Amount withdrawn by directors (1,300,001 ) (1,299,999 )
Net cash from financing activities (1,418,946 ) (3,628,484 )

Increase in cash and cash equivalents 6,971,137 1,868,093
Cash and cash equivalents at beginning
of year

2

10,487,531

8,699,574
Effect of foreign exchange rate changes (123,374 ) (80,136 )
Cash and cash equivalents at end of year 2 17,335,294 10,487,531

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Cash Flow Statement
for the year ended 30 June 2023


1. Reconciliation of profit before taxation to cash generated from operations
2023 2022
£ £
Profit before taxation 9,288,611 4,809,119
Depreciation charges 2,110,296 2,179,718
Loss on disposal of fixed assets - 165,724
Finance costs 480,729 611,468
Finance income (510,595 ) (265,129 )
11,369,041 7,500,900
(Increase)/decrease in stocks (134,105 ) 1,611,151
Decrease/(increase) in trade and other debtors 809,983 (2,436,173 )
Increase in trade and other creditors 587,153 1,843,266
Cash generated from operations 12,632,072 8,519,144

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 30 June 2023
30/6/23 1/7/22
£ £
Cash and cash equivalents 17,335,294 10,487,531
Year ended 30 June 2022
30/6/22 1/7/21
£ £
Cash and cash equivalents 10,487,531 8,699,574


3. Analysis of changes in net funds

At 1/7/22 Cash flow At 30/6/23
£ £ £
Net cash
Cash at bank and in hand 10,487,531 6,847,763 17,335,294
10,487,531 6,847,763 17,335,294
Debt
Debts falling due within 1 year (114,949 ) 85,356 (29,593 )
Debts falling due after 1 year (56,566 ) 33,589 (22,977 )
(171,515 ) 118,945 (52,570 )
Total 10,316,016 6,966,708 17,282,724

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements
for the year ended 30 June 2023


1. Statutory information

Trade Topco 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.

During the year the directors reviewed and revised the allocation of salaries and related expenditure between Cost of sales and Administrative expenditure better to reflect the commercial focus of the relevant staff. The comparative figures have therefore been restated by costs of £2,698,452 being transferred to Cost of sales.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows, in making their assessment.

Based on these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Basis of consolidation
The financial statements consolidate the accounts of Trade Topco Limited and its subsidiary undertakings; CP Plus (Trading) Limited, CP Plus Limited, CP Plus Parking España SL, CP Plus (International) Limited, Ranger Plus Limited, Ranger (Holdings) Limited, Ranger Services Limited and Highview Parking Limited.

Turnover
Turnover is recognised on delivery of the car park management service and recorded in the period to which it relates. Turnover is also generated by the group in respect of revenue-sharing arrangements and is recognised when that revenue is certain. All revenue is recognised exclusive of Value Added Tax.

Intangible assets
Intangible assets represent development costs which are capitalised as incurred in relation to software development expenditure. These costs are amortised over a period of three years on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Long leasehold - 2% on cost
Plant and machinery - 25% on cost and at varying rates on cost
Fixtures and fittings - 50% on cost and 33% on cost

Investment property
Investment properties are included in the balance sheet at their open market value.

Stocks
Stock comprises of equipment held by the group for installation and is valued at the lower of cost and the net
realisable value.


Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


2. Accounting policies - continued
Taxation
Taxation for year comprises current and deferred tax. Tax is recognised in the income, 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 or receivable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. The group is a beneficiary of Research & Development (R&D) tax relief from the UK Government in the form of reductions in its annual tax liability, as well as repayable tax credits. Current tax assets or reductions in current tax liabilities for R&D claims are only recognised when the amount can be reliably determined and the probability of HM Revenue & Customs accepting the claim is considered high. The Company calculates its R&D claim based on management's assessment of current regulations, using estimates based on timesheet records, however the quantum of the R&D tax relief can only be fully determined once HMRC have reviewed the submission.

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 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 and other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other employee 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.

Short term employee benefits including holiday pay and annual bonuses are accrued as services are rendered.

Financial instruments policy
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


2. Accounting policies - continued

Key sources of estimation uncertainty and judgements
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating development cost amortisation. The company's intangible assets are depreciated on a straight line basis over their useful economic lives. Management reviews the appropriateness of assets' useful economic lives at least annually and any changes could affect prospective amortisation rates and asset carrying values.

3. Turnover

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2023 2022
£ £
United Kingdom 36,869,715 34,318,170
Europe 3,159,254 2,791,245
40,028,969 37,109,415

4. Employees and directors
2023 2022
£ £
Wages and salaries 11,533,150 10,735,438
Social security costs 1,103,228 1,000,267
Other pension costs 198,309 200,849
12,834,687 11,936,554

The average number of employees during the year was as follows:
2023 2022

Car park attendants 355 342
Administration 46 36
Sales and operations 55 56
IT and technical 10 8
466 442

5. Directors' emoluments
2023 2022
£ £
Directors' remuneration 58,667 20,000

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


6. Exceptional items
2023 2022
£ £
Stock impairment - (1,763,332 )

7. Interest payable and similar expenses
2023 2022
£ £
Interest payable 480,729 611,468

8. Profit before taxation

The profit is stated after charging:

2023 2022
£ £
Depreciation - owned assets 567,077 616,311
Loss on disposal of fixed assets - 124,599
Development costs amortisation 1,543,219 1,563,407
Auditors' remuneration 40,475 32,350
Other non- audit services 2,750 2,225
Foreign exchange differences 4,945 2,794

9. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax 1,561,209 662,264
Under/(Over) provision
in prior year - (160,689 )
Total current tax 1,561,209 501,575

Deferred tax (339,462 ) 102,218
Tax on profit 1,221,747 603,793

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


9. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 9,288,611 4,809,119
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

1,764,836

913,733

Effects of:
Expenses not deductible for tax purposes 777,414 391,855
Income not taxable for tax purposes (470,029 ) (656 )
Depreciation in excess of capital allowances - 7,154
Utilisation of tax losses 65,621 114,774
Adjustments to tax charge in respect of previous periods - (160,689 )
Other adjustments to tax charge (198,858 ) 281,903
Research and development enhanced deduction (831,183 ) (944,281 )
Effect of change in standard rate of corporation tax to 25% during the year 113,946 -
Total tax charge 1,221,747 603,793

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£ £ £
Foreign Exchange (123,374 ) - (123,374 )

2022
Gross Tax Net
£ £ £
Foreign Exchange (80,136 ) - (80,136 )

10. 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.


Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


11. Intangible fixed assets

Group
Development
Goodwill costs Totals
£ £ £
Cost
At 1 July 2022 4,039,057 4,319,800 8,358,857
Additions - 2,136,782 2,136,782
Disposals - (764,136 ) (764,136 )
At 30 June 2023 4,039,057 5,692,446 9,731,503
Amortisation
At 1 July 2022 4,039,057 2,388,145 6,427,202
Amortisation for year - 1,543,219 1,543,219
Eliminated on disposal - (764,136 ) (764,136 )
At 30 June 2023 4,039,057 3,167,228 7,206,285
Net book value
At 30 June 2023 - 2,525,218 2,525,218
At 30 June 2022 - 1,931,655 1,931,655

12. Tangible fixed assets

Group
Short Long Improvements
leasehold leasehold to property
£ £ £
Cost
At 1 July 2022 (242,990 ) 2,637,050 882,091
Additions - - -
At 30 June 2023 (242,990 ) 2,637,050 882,091
Depreciation
At 1 July 2022 (242,990 ) 131,851 167,658
Charge for year - 52,742 90,820
At 30 June 2023 (242,990 ) 184,593 258,478
Net book value
At 30 June 2023 - 2,452,457 623,613
At 30 June 2022 - 2,505,199 714,433

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


12. Tangible fixed assets - continued

Group

Fixtures
Plant and and
machinery fittings Totals
£ £ £
Cost
At 1 July 2022 1,740,987 136,702 5,153,840
Additions 554,460 - 554,460
At 30 June 2023 2,295,447 136,702 5,708,300
Depreciation
At 1 July 2022 (6,063 ) (11,453 ) 39,003
Charge for year 403,840 19,675 567,077
At 30 June 2023 397,777 8,222 606,080
Net book value
At 30 June 2023 1,897,670 128,480 5,102,220
At 30 June 2022 1,747,050 148,155 5,114,837

Company
Fixtures
Long Improvements and
leasehold to property fittings Totals
£ £ £ £
Cost
At 1 July 2022
and 30 June 2023 2,637,050 882,091 94,750 3,613,891
Depreciation
At 1 July 2022 131,851 167,658 18,950 318,459
Charge for year 52,742 90,820 9,475 153,037
At 30 June 2023 184,593 258,478 28,425 471,496
Net book value
At 30 June 2023 2,452,457 623,613 66,325 3,142,395
At 30 June 2022 2,505,199 714,433 75,800 3,295,432

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


13. Fixed asset investments


Subsidiary
Country of
incorporation

Effective % holding
CP Plus (Trading) Limited UK 100
CP Plus Limited UK 97.71
CP Plus (International) Limited UK 75
Ranger Plus Limited UK 97.71 (indirect)
Ranger Services Limited UK 92.82 (indirect)
Ranger (Holdings) Limited UK 92.82 (indirect)
Highview Parking Limited UK 92.82 (indirect)
CP Plus Parking Espana S.L. Spain 75 (indirect)
Flow Analytics Limited UK 100
GroupNexus Limited UK 100

The principal activities of the above named subsidiaries continued to be the provision of car park and security management, except for CP Plus (Trading) Limited, Ranger Plus Limited and Ranger (Holdings) Limited which continued to act as holding entities for other subsidiaries within the group.

14. Investment property

Group
Total
£
Fair value
Reclassification/transfer 3,500,000
At 30 June 2023 3,500,000
Net book value
At 30 June 2023 3,500,000

15. Stocks

Group
2023 2022
£ £
Stocks 538,934 404,829
Property for sale - 3,500,000
538,934 3,904,829

16. Debtors: amounts falling due within one year

Group Company
2023 2022 2023 2022
£ £ £ £
Trade debtors 4,137,612 4,194,982 - -
Other debtors 6,304,985 5,743,921 - -
Tax 83,920 64,516 - -
VAT - - - 2,904
Deferred tax asset 254,989 - 89,222 -
Prepayments and accrued income 1,112,959 2,426,637 - 18,714
11,894,465 12,430,056 89,222 21,618

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


16. Debtors: amounts falling due within one year - continued

Deferred tax asset
Group Company
2023 2022 2023 2022
£ £ £ £
Accelerated Capital allowances 97,922 - 89,222 -
Tax losses carried forward 157,067 - - -
254,989 - 89,222 -

17. Creditors: amounts falling due within one year

Group Company
2023 2022 2023 2022
£ £ £ £
Other loans (see note 19) 29,593 114,949 - -
Trade creditors 2,482,011 2,760,306 - 139,547
Amounts owed to group undertakings - - 21,590,130 20,560,043
Social security and other taxes 412,544 415,927 - -
VAT 229,552 676,863 6,249 -
Other creditors 2,931,302 2,268,534 - -
Directors' current accounts 4,399,752 5,699,753 - -
Accruals and deferred income 4,808,982 4,155,608 - -
15,293,736 16,091,940 21,596,379 20,699,590

18. Creditors: amounts falling due after more than one year

Group Company
2023 2022 2023 2022
£ £ £ £
Other loans (see note 19) 22,977 56,566 - -
Other creditors 12,999,920 12,999,921 12,999,920 12,999,921
13,022,897 13,056,487 12,999,920 12,999,921

19. Loans

An analysis of the maturity of loans is given below:

Group
2023 2022
£ £
Amounts falling due within one year or on demand:
Other loans 29,593 114,949
Amounts falling due between one and two years:
Other loans - 1-2 years 22,977 29,680
Amounts falling due between two and five years:
Other loans - 2-5 years - 26,886


Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


20. Leasing agreements

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
2023 2022
£ £
Within one year 12,305 11,250
Between one and five years 10,613 -
22,918 11,250

21. Provisions for liabilities

Group Company
2023 2022 2023 2022
£ £ £ £
Deferred tax
Accelerated Capital allowances - 84,473 - 105,237

Group
Deferred tax
£
Balance at 1 July 2022 84,473
Provided during year (339,462 )
Balance at 30 June 2023 (254,989 )

Company
Deferred tax
£
Balance at 1 July 2022 105,237
Credit to Income Statement during year (194,459 )
Balance at 30 June 2023 (89,222 )

22. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
329,389 Ordinary £0.10 32,939 32,939

Trade Topco Limited (Registered number: 11882390)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2023


23. Reserves

Group
Retained
earnings
£

At 1 July 2022 4,914,751
Profit for the year 7,751,814
Foreign Exchange (123,374 )
At 30 June 2023 12,543,191

Company
Retained
earnings
£

At 1 July 2022 (2,375,458 )
Deficit for the year (845,217 )
At 30 June 2023 (3,220,675 )


24. Non-controlling interests

Minority interest relates to the proportion of the investments in CP Plus Limited, CP Plus (International) Limited, Ranger Plus Limited, and Ranger Holdings Limited which are owned by investors outside of the group.

25. Related party disclosures

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.

Included in group debtors at the year end is £5,774,080 (2022: £5,499,174) and included in group creditors at the year end is £161,110 (2022: £153,438) relating to entities connected by common control.

Included in company creditors at the year end is £9,258,448 (2022: £8,205,584) relating to entities connected by common control.

During the year interest payable of £7,672 (2022: £7,307) was charged by companies connected by common control, and interest amounting to £274,956 (2022: £261,865) was received from these companies.

At the year end £4,721,818 (2022: £6,021,818) was owed to directors and members of their families,
and a further £12,999,920 (2022: £12,999,920) owed in loan notes. Interest on the loan notes is payable at the directors' discretion from July 2021. The loan notes have been redeemed in full since the year end and the funds re-introduced to the company as directors' loans.

26. Ultimate controlling party

The ultimate controlling party is E A Green, I S Langdon and related parties acting in concert.