REGISTERED NUMBER: |
CP Plus Holdings Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
CP Plus Holdings Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
CP Plus Holdings Limited (Registered number: 05885194) |
Contents of the Financial Statements |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CP Plus Holdings Limited |
Company Information |
for the year ended 30 June 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
CP Plus Holdings Limited (Registered number: 05885194) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Share premium | 10 |
Capital redemption reserve | 10 |
Retained earnings | 10 | ( |
) |
Shareholders' funds |
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 were approved by the Board of Directors and authorised for issue on |
CP Plus Holdings Limited (Registered number: 05885194) |
Notes to the Financial Statements |
for the year ended 30 June 2024 |
1. | Statutory information |
CP Plus Holdings Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The directors consider the going concern basis to be appropriate because in their opinion the company will continue to obtain sufficient funding from a related company on whom it is dependent to enable it to pay its debts as they fall due. The related company has indicated that it will provide such support for the foreseeable future. |
Preparation of consolidated financial statements |
The financial statements contain information about CP Plus 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 |
Revenue relates to rent receivable and is recognised in the period to which it relates. |
Investments in subsidiaries |
Investments comprising shares in group undertakings and unlisted investments are recognised at fair value. |
Investment property |
Investment properties are included in the balance sheet at their open market value in accordance with Financial Reporting Standard 102 and are not depreciated. This treatment is contrary to the Companies' Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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. |
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. |
CP Plus Holdings Limited (Registered number: 05885194) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
2. | Accounting policies - continued |
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. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Debtors and creditors are 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. |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Fixed asset investments |
Shares in |
group | Listed | Unlisted |
undertakings | investments | investments | Totals |
£ | £ | £ | £ |
Cost or valuation |
At 1 July 2023 | 7,357,535 |
Additions | 9,967,816 |
Disposals | ( |
) | (5,221,390 | ) |
Revaluations | 179,057 |
At 30 June 2024 | 12,283,018 |
Net book value |
At 30 June 2024 | 12,283,018 |
At 30 June 2023 | 7,357,535 |
Investments comprising shares in group undertakings and unlisted investments are recognised at cost and listed investments are recognised at fair value. |
5. | Investment property |
Total |
£ |
Fair value |
At 1 July 2023 |
Revaluations | 42,000 |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
CP Plus Holdings Limited (Registered number: 05885194) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
5. | Investment property - continued |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2024 | (81,411 | ) |
Cost | 1,651,411 |
1,570,000 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax |
On fair value gains | 108,166 | 21,466 |
Deferred tax |
£ |
Balance at 1 July 2023 |
Provided during year |
Balance at 30 June 2024 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £0.10 | 75,000 | 75,000 |
CP Plus Holdings Limited (Registered number: 05885194) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
10. | Reserves |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 July 2023 | ( |
) | 10,469,670 |
Profit for the year |
At 30 June 2024 | 11,750,627 |
Included within retained earnings at the year end are non distributable profits of £852,608 (2023: £718,251), relating to the fair value revaluations of investments. |