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REGISTERED NUMBER: 03581148 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

CPT Global Ltd

CPT Global Ltd (Registered number: 03581148)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CPT Global Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: L Tuddenham





SECRETARY: T Shelton





REGISTERED OFFICE: Littlehaven House
24-26 Littlehaven Lane
Horsham
West Sussex
RH12 4HT





REGISTERED NUMBER: 03581148 (England and Wales)





AUDITORS: Shinewing Wilson Accountancy Limited
Chartered Certified Accountants
and Statutory Auditors
9 St Clare Street
London
EC3N 1LQ

CPT Global Ltd (Registered number: 03581148)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £   
CURRENT ASSETS
Debtors 5 2,494,368 2,903,239
Cash at bank 109,879 49,272
2,604,247 2,952,511
CREDITORS
Amounts falling due within one year 6 4,104,946 4,056,929
NET CURRENT LIABILITIES (1,500,699 ) (1,104,418 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,500,699

)

(1,104,418

)

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (1,500,899 ) (1,104,618 )
SHAREHOLDERS' FUNDS (1,500,699 ) (1,104,418 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





L Tuddenham - Director


CPT Global Ltd (Registered number: 03581148)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

CPT Global Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company had net current liabilities of £1.5 million at the balance sheet date, which is mainly owed to the related parties, no short-term demand on the repayment of the funds is expected to be instructed. The director has received a letter of support from ultimate parent undertaking confirming they agree to provide unconditional continued financial support to enable the company to meet its obligations as and when they fall due for a minimum period of 18 months from the date of these financial statements. For this reason, the director believes that the company has adequate resources to continue in operational existence for the foreseeable future and therefore it is appropriate that the company continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about CPT Global Ltd 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.

Turnover
Turnover consists of income earned from services performed using the percentage of completion method of accounting. The percentage is determined by site manager estimations of work completed. Provisions for estimated losses on contracts are made during the period in which the losses become probable and can be readily estimated.

Accrued income represents turnover recognised in excess of payments on accounts.

Investments in subsidiaries
Investment in subsidiary undertaking is recognised at cost less amounts written off on impairment.

CPT Global Ltd (Registered number: 03581148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
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 financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

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 statement of financial position date.


CPT Global Ltd (Registered number: 03581148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Provision for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 7,236
Impairments (7,236 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 7,236

CPT Global Ltd (Registered number: 03581148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. FIXED ASSET INVESTMENTS - continued

On 16 June 2015, the company incorporated a subsidiary in Italy. The company owns 100% of the share capital of CPT Global S.r.l. The activity of the company is to provide information technology consulting services to customers in Italy.

At the balance sheet date, the investment in the subsidiary remained fully impaired.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.06.2430.06.23
£   £   

Amounts owed by group undertakings2,732,9992,886,499
Less: Provision for doubtful debts(254,743)0
Other debtors16,11216,739


2,494,3682,903,238

Amount due from parent company and fellow subsidiaries are unsecured, repayable on demand and bear interest at market rates of 8.27%, interest income of £257K (2023: £148K) was recongised in the profit and loss accounts for the year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 37,419 43,512
Amounts owed to group undertakings 3,999,306 3,474,479
Other creditors 68,221 538,938
4,104,946 4,056,929

Amount due to parent company and fellow subsidiaries are unsecured, repayable on demand and bear interest at market rates of 8.27%, interest expense of £315K (2023: 187K) was recognised in the profit and loss accounts for the year.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nijendra Dhungana FCCA (Senior Statutory Auditor)
for and on behalf of Shinewing Wilson Accountancy Limited

8. 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.

CPT Global Ltd (Registered number: 03581148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CONTROLLING PARTY

The immediate parent company is CPT Global International Pty Ltd., a company incorporated in Australia. The ultimate parent company is CPT Global Limited, a company incorporated in Australia. The consolidated financial statements are available to the public and may be obtained from CPT Global Limited, Level 3, 818 Bourke Street, Docklands, VIC 3008, Australia.

There is no one ultimate controlling party.