IRIS Accounts Productionv24.3.2.4615614985Board of Directors30.9.244.4.2430.9.2430.9.24Medium entitiesThese accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime.holding company.truetruefalsetruetruefalsefalsefalsetruefalse iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh156149852024-04-03156149852024-09-30156149852024-04-042024-09-30156149852024-04-0315614985ns15:EnglandWales2024-04-042024-09-3015614985ns14:PoundSterling2024-04-042024-09-3015614985ns10:Director12024-04-042024-09-3015614985ns10:Consolidated2024-09-3015614985ns10:ConsolidatedGroupCompanyAccounts2024-04-042024-09-3015614985ns10:PrivateLimitedCompanyLtd2024-04-042024-09-3015614985ns10:Consolidatedns10:MediumEntities2024-04-042024-09-3015614985ns10:Consolidatedns10:Audited2024-04-042024-09-3015614985ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-042024-09-3015614985ns10:Medium-sizedCompaniesRegimeForAccounts2024-04-042024-09-3015614985ns10:Consolidated2024-04-042024-09-3015614985ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-042024-09-3015614985ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2024-04-042024-09-3015614985ns10:FullAccounts2024-04-042024-09-301561498512024-04-042024-09-3015614985ns10:Director22024-04-042024-09-3015614985ns10:Director32024-04-042024-09-3015614985ns10:Director42024-04-042024-09-3015614985ns10:Director52024-04-042024-09-3015614985ns10:RegisteredOffice2024-04-042024-09-3015614985ns5:CurrentFinancialInstruments2024-09-3015614985ns5:ShareCapital2024-09-3015614985ns5:SharePremium2024-09-3015614985ns5:ShareCapital2024-04-042024-09-3015614985ns5:SharePremium2024-04-042024-09-3015614985ns5:RetainedEarningsAccumulatedLosses2024-04-042024-09-3015614985ns5:RetainedEarningsAccumulatedLosses2024-09-3015614985ns5:NetGoodwill2024-04-042024-09-30

REGISTERED NUMBER: 15614985 (England and Wales)













CPG CAPITAL LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD

4 APRIL 2024 TO 30 SEPTEMBER 2024






CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024











Page



Company Information  

1



Group Strategic Report  

2



Report of the Directors  

4



Report of the Independent Auditors  

6



Consolidated Income Statement  

9



Consolidated Balance Sheet  

10



Company Balance Sheet  

11



Consolidated Statement of Changes in Equity  

12



Company Statement of Changes in Equity  

13



Consolidated Cash Flow Statement  

14



Notes to the Consolidated Cash Flow Statement

15



Notes to the Consolidated Financial Statements

17




CPG CAPITAL LIMITED


COMPANY INFORMATION

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024









DIRECTORS:

R A Lord


A Haynes


Mrs S Lord


D Jones


Mrs L C Goddard





REGISTERED OFFICE:

Unit 900 Fareham Reach


166 Fareham Road


Gosport


Hampshire


PO13 0FW





REGISTERED NUMBER:

15614985 (England and Wales)





AUDITORS:

Hopper Williams & Bell Limited


Statutory Auditor


Highland House


Mayflower Close


Chandler's Ford


Eastleigh


Hampshire


SO53 4AR





BANKERS:

HSBC Bank plc


Mitchell Way


Southampton International Airport


Southampton


Hampshire


SO18 2XU





SOLICITORS:

Hentys LLP Solicitors


Kintyre House


70 High Street


Fareham


Hampshire


PO16 7BB


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


GROUP STRATEGIC REPORT

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



The directors present their strategic report of the company and the group for the period ended 30 September 2024.


The company was incorporated in April 2024, and in June 2024 it completed the acquisition of 100% of the share capital in Jamesurl Limited, and its associated subsidiaries. The group's main trading company is CPG Logistics Limited.


The group operates warehouse and distribution services from modern facilities situated on the South Coast. It continues to manage complex supply chain solutions and services in collaboration with chosen partners throughout Europe. While the group's core business has traditionally been within the pharmaceutical sector, we have successfully expanded into various industries, leveraging our expertise to meet diverse client needs.


REVIEW OF BUSINESS

The results for the period and financial position of the company and group are as shown in the annexed financial statements.


In terms of financial performance, we have achieved remarkable growth this year, surpassing the successes of the previous year. Our strategic initiatives have led to increased profitability and a solid outlook for the future.


A key driver of our success has been the continued expansion of our e-commerce and retail activities, particularly within the luxury goods, cosmetics, and health sectors. We have efficiently fulfilled direct-to-consumer orders across the UK and EU, significantly broadening our client base in the pharmaceutical/healthcare, animal health, optical, cosmetics, and defence industries.


Despite the achievements, we have encountered similar challenges as in previous years, including rising labour costs and staff retention. In response, we have enhanced our remuneration packages for both existing and prospective employees. This investment in our workforce has resulted in increased wage costs, which we anticipate will persist into the upcoming year.


We are also committed to minimising our environmental impact. We continue to source products from FSC approved producers, ensuring that our wood, paper, and other forest products come from well-managed forests and/or recycled sources. Our focus on sustainable packaging remains a priority as we work to identify and implement environmentally friendly solutions.


Overall, we are proud of our financial performance this year and the strides we have made across various facets of our business. We remain confident in our ability to sustain growth while making a positive impact, all while upholding our commitment to sustainability.


KPIs



Period ending

30 September

2024




£



Turnover


8,092,967



Gross Profit


4,087,017



Gross Profit %


50.5%



Profit Before Tax


679,968




RESEARCH AND DEVELOPMENTS

During the year, the group continued to invest in developing software to enhance efficiencies and allow it to continue to provide bespoke services to its customers. As a business, CPG's focus is on the technological offering, allowing it to serve customers in varying and specialised sectors.



CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


GROUP STRATEGIC REPORT

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024


PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks and uncertainties affecting the group are expected to come from its customers'   continued objectives to drive down supply chain costs. In this respect, the group continues to invest in the development of new and innovative services and systems that will assist its customers to achieve their objectives. The policy has enabled the group to retain and renew existing contracts and at the same time build and develop the customer base. High standards are fundamental to the group and this extends across all aspects of the business. This has allowed it to compete in some of the most highly regulated sectors and work with many blue-chip multinational organisations.


FUTURE DEVELOPMENTS

The longer-term strategy of the group is to drive growth and its margins upward by increasing the utilisation of its

facilities and value-added services including production, customisation, and IT offerings.


ON BEHALF OF THE BOARD:






R A Lord - Director



5 March 2025


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


REPORT OF THE DIRECTORS

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



The directors present their report with the financial statements of the company and the group for the period 4 April 2024 to 30 September 2024.


INCORPORATION

The group was incorporated on 4 April 2024 and commenced trading on the same date.


DIVIDENDS

Interim dividends totalling £906.25 per share were paid on the Ordinary A £1 shares during the period. No dividends were paid on any other classes of shares.


The total distribution of dividends for the period ended 30 September 2024 will be £ 116,000 .


DIRECTORS

The directors who have held office during the period from 4 April 2024 to the date of this report are as follows:


R A Lord - appointed 4 April 2024

A Haynes - appointed 4 April 2024

Mrs S Lord - appointed 19 June 2024

D Jones - appointed 19 June 2024

Mrs L C Goddard - appointed 19 June 2024


All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.


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.


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


REPORT OF THE DIRECTORS

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



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:






R A Lord - Director



5 March 2025


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CPG CAPITAL LIMITED



Opinion

We have audited the financial statements of CPG Capital Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 September 2024 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 September 2024 and of the group's profit for the period 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 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.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CPG CAPITAL 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 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 four, 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 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.


Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


- We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and the parent company, and the industry in which they operate. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Principles and the relevant tax compliance regulations for the group and the parent company.


- We obtained an understanding of how the group and parent company is complying with these frameworks through discussions with management.


- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence.


- We assessed the susceptibility of the group's and parent company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CPG CAPITAL LIMITED


- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the group and parent company operate in, and their practical experience through training and participation with audit engagements of a similar nature.


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.





James Flood FCA (Senior Statutory Auditor)

for and on behalf of Hopper Williams & Bell Limited

Statutory Auditor

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR


6 March 2025


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


CONSOLIDATED INCOME STATEMENT

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



Notes

£



TURNOVER

8,092,967





Cost of sales

(4,005,950

)



GROSS PROFIT

4,087,017





Administrative expenses

(3,104,826

)



OPERATING PROFIT

4

982,191





Interest receivable and similar income

349



982,540





Interest payable and similar expenses

5

(302,572

)



PROFIT BEFORE TAXATION

679,968





Tax on profit

6

(171,954

)



PROFIT FOR THE FINANCIAL PERIOD

508,014




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


CONSOLIDATED BALANCE SHEET

30 SEPTEMBER 2024



Notes

£


FIXED ASSETS


Intangible assets

9

9,320,365




Tangible assets

10

4,299,183




Investments

11

-



13,619,548





CURRENT ASSETS


Stocks

12

64,276




Debtors

13

5,584,509




Cash at bank and in hand

785,750



6,434,535




CREDITORS


Amounts falling due within one year

14

(6,915,851

)



NET CURRENT LIABILITIES

(481,316

)



TOTAL ASSETS LESS CURRENT

LIABILITIES

13,138,232





CREDITORS


Amounts falling due after more than one

year

15

(4,263,664

)




PROVISIONS FOR LIABILITIES

19

(1,391,554

)



NET ASSETS

7,483,014





CAPITAL AND RESERVES


Called up share capital

20

229




Share premium

21

7,090,771




Retained earnings

21

392,014




SHAREHOLDERS' FUNDS

7,483,014




The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:






R A Lord - Director



CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


COMPANY BALANCE SHEET

30 SEPTEMBER 2024



Notes

£


FIXED ASSETS


Intangible assets

9

-




Tangible assets

10

-




Investments

11

7,672,116



7,672,116





CREDITORS


Amounts falling due within one year

14

(581,116

)



NET CURRENT LIABILITIES

(581,116

)



TOTAL ASSETS LESS CURRENT

LIABILITIES

7,091,000





CAPITAL AND RESERVES


Called up share capital

20

229




Share premium

21

7,090,771




SHAREHOLDERS' FUNDS

7,091,000





Company's profit for the financial year

116,000




The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:






R A Lord - Director



CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024


Called up



share

Retained

Share

Total


capital

earnings

premium

equity



£

£

£

£


Changes in equity

Issue of share capital

229


-


7,090,771


7,091,000



Dividends

-


(116,000

)

-


(116,000

)


Total comprehensive income

-


508,014


-


508,014



Balance at 30 September 2024

229


392,014


7,090,771


7,483,014




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024


Called up



share

Retained

Share

Total


capital

earnings

premium

equity



£

£

£

£


Changes in equity

Issue of share capital

229


-


7,090,771


7,091,000



Dividends

-


(116,000

)

-


(116,000

)


Total comprehensive income

-


116,000


-


116,000



Balance at 30 September 2024

229


-


7,090,771


7,091,000




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


CONSOLIDATED CASH FLOW STATEMENT

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



Notes

£


Cash flows from operating activities


Cash generated from operations

1

1,729,684




Interest paid

(247,117

)



Interest element of hire purchase payments

paid

(55,455

)



Tax paid

(17,734

)



Taxation refund

136,327




Net cash from operating activities

1,545,705





Cash flows from investing activities


Purchase of intangible fixed assets

(234,808

)



Purchase of tangible fixed assets

(74,415

)



Consideration payable for shares

(581,116

)



Cash acquired on acquisition

915,003




Overdraft acquired on acquisition

(1,127,462

)



Interest received

349




Net cash from investing activities

(1,102,449

)




Cash flows from financing activities


New loans in year

900,000




Loan repayments in year

(360,085

)



Hire purchase capital repayments in year

(120,201

)



Amount introduced by directors

55,196




Amount withdrawn by directors

(63,362

)



Invoice discounting facility movement

(310,328

)



Equity dividends paid

(116,000

)



Net cash from financing activities

(14,780

)




Increase in cash and cash equivalents

428,476




Cash and cash equivalents at beginning of

period

2

-





Cash and cash equivalents at end of

period

2

428,476




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



1.

RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM

OPERATIONS



£


Profit before taxation

679,968




Depreciation charges

278,113




Amortisation charges

368,386




Finance costs

302,572




Finance income

(349

)


1,628,690




Increase in stocks

(6,913

)



Decrease in trade and other debtors

1,485,916




Decrease in trade and other creditors

(1,378,009

)



Cash generated from operations

1,729,684




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:



Period ended 30 September 2024


30.9.24


4.4.24


£

£


Cash and cash equivalents

785,750


-




Bank overdrafts

(357,274

)

-



428,476


-





CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



3.

ANALYSIS OF CHANGES IN NET DEBT



Other



non-cash



At 4.4.24

Cash flow

changes

At 30.9.24


£

£

£

£


Net cash



Cash at bank


and in hand

-


785,750


785,750




Bank overdrafts

-


(357,274

)

(357,274

)


-


428,476


428,476




Debt


Finance leases

-


(510,286

)

(771,011

)

(1,281,297

)



Debts falling due


within 1 year

-


(1,234,349

)

-


(1,234,349

)



Debts falling due


after 1 year

-


(3,309,954

)

-


(3,309,954

)


-


(5,054,589

)

(771,011

)

(5,825,600

)



Total

-


(4,626,113

)

(771,011

)

(5,397,124

)



CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



1.

STATUTORY INFORMATION



CPG Capital 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.



The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.



The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.



Basis of consolidation


The group financial statements consolidate the financial statements of CPG Capital Limited and all its subsidiary undertakings using the acquisition method of accounting from the date of acquisition.



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.



Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate primarily to the capitalisation of internally generated intangible development time. There are no other areas of critical judgement.


Turnover


Turnover represents the provision of services net of VAT and trade discounts.



The provision of the service is recognised when goods are stored or physically dispatched in accordance with the customer's instructions.



Goodwill


Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.  


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



2.

ACCOUNTING POLICIES - continued



Tangible fixed assets

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

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

Short leasehold- Over the length of the lease
Commercial vehicles- 3-7 years straight line
Plant and machinery- 2-25 years straight line
Fixtures and fittings- 2-15 years straight line
Equipment- 3-10 years straight line

The profit or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.


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 period 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.


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 period 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.


Research and development

Development costs (both internal and external) of computer software are capitalised once a detailed program design has been established and are amortised on the straight line basis over the estimated useful life of twelve years.

Other research and development expenses are charged to the profit and loss account in the year which they are incurred.

For the purposes of calculating distributable profits, unamortised development costs have not been treated as a realised loss because identifiable sales will result in the near future.


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 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.


Hire purchase agreements


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 the profit or loss account over the relevant period. The capital element of future payments is treated as a liability.



Operating lease agreements


Rentals payable on operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.



Financial assets


The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.



Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.



Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.



Financial liabilities


Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.



Equity instruments


Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


3.

EMPLOYEES AND DIRECTORS


£


Wages and salaries

1,672,937




Social security costs

176,849




Other pension costs

66,561



1,916,347




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



3.

EMPLOYEES AND DIRECTORS - continued


The average number of employees during the period was as follows:



Distribution

90




Administration

63




Management

6



159







£


Directors' remuneration

279,083




Directors' pension contributions to money purchase schemes  

9,441





The number of directors to whom retirement benefits were accruing was as follows:



Money purchase schemes

5





Information regarding the highest paid director is as follows:


£


Emoluments etc

85,001




Pension contributions to money purchase schemes

2,720




4.

OPERATING PROFIT



The operating profit is stated after charging:



£


Depreciation - owned assets

132,187




Depreciation - assets on hire purchase contracts

145,926




Goodwill amortisation

184,327




R&D amortisation

184,059




Auditors' remuneration

4,460




Auditors' remuneration for non audit work

7,514




Foreign exchange differences

640




Hire of plant and machinery  

118,067




Other operating leases  

552,310




5.

INTEREST PAYABLE AND SIMILAR EXPENSES



£


Bank interest

40,648




Bank loan interest

26,944




Other interest

109,647




Other loan interest

69,878




Hire purchase

55,455



302,572




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



6.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the period was as follows:


£


Current tax:


UK corporation tax

16,389





Deferred tax

155,565




Tax on profit

171,954





UK corporation tax has been charged at 25 % .



Reconciliation of total tax charge included in profit and loss


The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:



£


Profit before tax

679,968




Profit multiplied by the standard rate of corporation tax in the UK of 25 %

169,992





Effects of:


Expenses not deductible for tax purposes

8,621




Amortisation on goodwill  

46,082




Amortisation on intangible fixed assets  

46,015




Depreciation on non-qualifying assets  

6,216




Intangible assets treated as revenue deductions  

(58,702

)



Research and development enhanced deduction  

(46,270

)



Total tax charge

171,954




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.



The parent company's profit for the financial period was £116,000.


8.

DIVIDENDS


£


Ordinary A shares of £1 each



Interim

116,000




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



9.

INTANGIBLE FIXED ASSETS



Group

Goodwill

R&D

Totals



£

£

£


COST


Additions

5,529,810


4,158,941


9,688,751




At 30 September 2024

5,529,810


4,158,941


9,688,751




AMORTISATION


Amortisation for period

184,327


184,059


368,386




At 30 September 2024

184,327


184,059


368,386




NET BOOK VALUE


At 30 September 2024

5,345,483


3,974,882


9,320,365




10.

TANGIBLE FIXED ASSETS



Group

Short

Commercial

Plant and


leasehold

vehicles

machinery



£

£

£


COST


Additions

560,392


90,381


2,601,271




At 30 September 2024

560,392


90,381


2,601,271




DEPRECIATION


Charge for period

16,993


22,595


102,247




At 30 September 2024

16,993


22,595


102,247




NET BOOK VALUE


At 30 September 2024

543,399


67,786


2,499,024




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



10.

TANGIBLE FIXED ASSETS - continued



Group


Fixtures


and


fittings

Equipment

Totals



£

£

£


COST


Additions

404,777


920,475


4,577,296




At 30 September 2024

404,777


920,475


4,577,296




DEPRECIATION


Charge for period

36,957


99,321


278,113




At 30 September 2024

36,957


99,321


278,113




NET BOOK VALUE


At 30 September 2024

367,820


821,154


4,299,183





The net book value of assets held on hire purchase contracts included within the above was £1,338,926. The depreciation charge relating to these assets amounted to £145,926 for the period.


11.

FIXED ASSET INVESTMENTS



The company's investments at the balance sheet date in the share capital of companies include the following:



Company


Jamesurl Limited


CPG Holdings Limited


CPG Logistics Limited


Medisa Services Limited



All of the above companies are incorporated in England and Wales and are included in the consolidated group accounts. The registered office and principal place of business of all subsidiaries is Unit 900 Fareham Reach, 166 Fareham Road, Gosport, Hampshire, PO13 0FW.


12.

STOCKS




Group



£


Stocks

64,276




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR





Group



£


Trade debtors

3,886,677




Other debtors

1,894




Directors' current accounts

185,501




Tax

86,613




Prepayments and accrued income

1,423,824



5,584,509




14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR





Group


Company



£

£


Bank loans and overdrafts (see note 16)

1,157,712


-




Other loans (see note 16)

433,911


-




Hire purchase contracts  (see note 17)

327,587


-




Trade creditors

2,267,348


-




Amounts owed to group undertakings

-


581,116




Tax

34,518


-




Social security and other taxes

1,195,958


-




Other creditors

1,109,853


-




Accruals and deferred income

388,964


-



6,915,851


581,116




15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR





Group



£


Bank loans (see note 16)

1,305,562




Other loans (see note 16)

2,004,392




Hire purchase contracts  (see note 17)

953,710



4,263,664




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



16.

LOANS



An analysis of the maturity of loans is given below:




Group



£


Amounts falling due within one year or on

demand:



Bank overdrafts

357,274




Bank loans - less than 1 year

800,438




Other loans - less than 1 year

433,911



1,591,623




Amounts falling due between one and two

years:



Bank loans - 1-2 years

816,960




Other loans - 1-2 years

243,336



1,060,296




Amounts falling due between two and five

years:



Bank loans - 2-5 years

488,602




Other loans - 2-5 years

1,715,439



2,204,041




Amounts falling due in more than five years:



Repayable by instalments


Other loans more than 5 years


by instalments

45,617



45,617




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



17.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Group

Hire


purchase


contracts



£


Gross obligations repayable:


Within one year

433,498




Between one and five years

1,128,940



1,562,438





Finance charges repayable:


Within one year

105,911




Between one and five years

175,230



281,141





Net obligations repayable:


Within one year

327,587




Between one and five years

953,710



1,281,297





Group

Non-cancellable


operating leases



£


Within one year

2,059,579




Between one and five years

4,188,673




In more than five years

8,507,540



14,755,792




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



18.

SECURED DEBTS



The following secured debts are included within creditors:




Group



£


Bank overdraft

357,274




Bank loans

2,106,000




Hire purchase contracts

1,281,297




Other loans

2,438,404




Other creditors

913,711



7,096,686





Loans and overdrafts are secured by debenture, including fixed and floating charges over the group's assets. Liabilities under hire purchase are secured on the assets to which they relate. Other creditors are secured by way of a fixed and floating charge over the group's assets.



Bank loans are partially secured by way of personal guarantee given by a group director.



In addition to the above, there is also an unlimited multilateral guarantee dated 30 September 2011 given by CPG Logistics Limited, its parent company CPG Holdings Limited, its ultimate parent company CPG Capital Limited and other group companies, Jamesurl Limited and Medisa Services Limited.


19.

PROVISIONS FOR LIABILITIES




Group



£


Deferred tax

891,554





Other provisions

500,000





Aggregate amounts

1,391,554





Group

Deferred tax



£


In subsidiary on acquisition

735,989




Accelerated capital allowances

155,565




Balance at 30 September 2024

891,554




CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



20.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:



Number:


Class:


Nominal value:



£   




1


Ordinary


£1



1



128


Ordinary A


£1



128



78


Ordinary B


£1



78



22


Ordinary C


£1



22




229



21.

RESERVES



Group

Retained

Share


earnings

premium

Totals



£

£

£



Profit for the period

508,014


508,014




Dividends

(116,000

)

(116,000

)



Share issue

-


7,090,771


7,090,771




At 30 September 2024

392,014


7,090,771


7,482,785





Company

Retained

Share


earnings

premium

Totals



£

£

£



Profit for the period

116,000


116,000




Dividends

(116,000

)

(116,000

)



Share issue

-


7,090,771


7,090,771




At 30 September 2024

-


7,090,771


7,090,771





22.

PENSION COMMITMENTS



The group operates a defined contribution pension scheme. Employer's contributions payable for the period amounted to £66,561. Contributions totalling £19,925 were outstanding at the year end and are included within other creditors.


CPG CAPITAL LIMITED (REGISTERED NUMBER: 15614985)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 4 APRIL 2024 TO 30 SEPTEMBER 2024



23.

DIRECTORS' ADVANCES, CREDITS AND GUARANTEES



The following advances and credits to a director subsisted during the period ended 30 September 2024:



£


R A Lord



Balance outstanding at start of period

177,335




Amounts advanced

63,362




Amounts repaid

(55,196

)



Amounts written off

-




Amounts waived

-




Balance outstanding at end of period

185,501





No interest is being charged on the above balances.


24.

ULTIMATE CONTROLLING PARTY



The controlling party is R A Lord.