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Registered number: 14185441










CPD GROUP HOLDINGS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
CPD GROUP HOLDINGS LIMITED
 
 
COMPANY INFORMATION


DIRECTOR
C P Doocey 




REGISTERED NUMBER
14185441



REGISTERED OFFICE
97 Bowesfield Lane

Stockton on Tees

TS18 3HF




INDEPENDENT AUDITORS
Waltons Business Advisers Limited
Chartered Accountants & Statutory Auditors

Maritime House

Harbour Walk

The Marina

Hartlepool

Teesside

TS24 0UX





 
CPD GROUP HOLDINGS LIMITED
 

CONTENTS



Page
Director's report
1 - 2
Group strategic report
3 - 4
Independent auditors' report
5 - 9
Consolidated statement of comprehensive income
10
Consolidated balance sheet
11 - 12
Company balance sheet
13
Consolidated statement of changes in equity
14 - 16
Company statement of changes in equity
17 - 18
Consolidated statement of cash flows
19 - 20
Consolidated analysis of net debt
21
Notes to the financial statements
22 - 40


 
CPD GROUP HOLDINGS LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is required to:


select suitable accounting policies for the Group's financial statements 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 Group will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006He is 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.

PRINCIPAL ACTIVITY

The Group's principal activity is that of commercial vehicle sales, repairs and conversions.

RESULTS AND DIVIDENDS

The profit for the year, after taxation and minority interests, amounted to £3,025,767 (2023 - £4,362,917).

Dividends amounting to £205,163 were paid during the period.

DIRECTOR

The director who served during the year was:

C P Doocey 

FUTURE DEVELOPMENTS

The Group is always looking to diversify so that it can offer their customers a full turn key solution. We have various plans in motion to cover all aspects of construction vehicles as well as stationary welfare units.

Page 1

 
CPD GROUP HOLDINGS LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

RESEARCH AND DEVELOPMENT ACTIVITIES

Project 1 – Electric vehicle development
Objective
To develop a comprehensive approach for designing and implementing vehicle conversion solutions tailored to electric chassis products, positioning CPD Bodies Ltd as a leader in the market for sustainable and innovative vehicle bodies.
Project 2 – IT
Objective
To modernize and integrate CPD Bodies Ltd's internal IT systems, enabling seamless management of the customer journey from quotation to production planning, purchasing, invoicing, and reporting. This will improve operational efficiency, enhance customer satisfaction, and provide robust data insights.

DISCLOSURE OF INFORMATION TO AUDITORS

The director at the time when this Director's report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Group since the year end.

AUDITORS

The auditorsWaltons Business Advisers Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 28 March 2025 and signed on its behalf.
 





C P Doocey
Director

Page 2

 
CPD GROUP HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

BUSINESS REVIEW
 
Following the most successful year in our Group’s history, we have undertaken a comprehensive evaluation of our operations, identifying key strengths and areas for improvement. 
As part of this strategy, we have restructured and expanded our management team, ensuring expertise in all key areas. Notably, we identified a gap in our marketing capabilities and have since brought in a dedicated team to align with our growth ambitions. In line with our enhanced professional outlook, we have also undertaken a full rebrand of CPD, which has been met with highly positive feedback.
To future-proof the business, we have invested significantly in the VanDemand brand, establishing a dedicated function to engage directly with end users and ensure seamless vehicle acquisition. Considerable time and financial resources have been allocated to this initiative, reflecting our commitment to enhancing customer experience and service delivery.
In parallel, we have continued to strengthen our core operations, investing over £6 million in Light Commercial Vehicles (LCVs) and chassis to maintain a robust and diverse inventory. Additionally, we have expanded our sales team, which, though in its early stages, is already gaining traction in a highly competitive market.
We remain dedicated to the development of non-internal combustion engine (ICE) vehicles and are actively collaborating with manufacturers to offer the most viable solutions within practical timelines. While challenges such as infrastructure limitations persist, we are committed to guiding our customers through the transition to electric, hydrogen, and other emerging technologies with minimal disruption.
Furthermore, we have made significant investments in our workshop facilities, including a full refurbishment and the addition of new painting facilities at our head office. These enhancements will support our continued growth and ensure we maintain the highest standards of service and efficiency.
As we move forward, our focus remains on innovation, operational excellence, and sustainable growth. We are confident that these strategic investments will position us for long-term success and reinforce our commitment to delivering exceptional value to our customers and stakeholders. 

PRINCIPAL RISKS AND UNCERTAINTIES
 
The global environment is ever changing. Material supply and energy costs have increased significantly. This has had large fluctuations with vehicle production from the manufacturers, alongside this, new models have had to be introduced to remain compliant with global legislation towards reducing emissions. The number of alternative fuel commercial vehicles sold in the UK is increasing.
New legislation called the ZEV mandate for 2024 has changed the landscape dramatically. This mandate requires at least 22% of new cars and 10% of new vans to be zero-emission. The Government has, however, changed some other targets. By 2030, automakers will need to ensure that 80% of new cars and 70% of new vans are electric. CPD Bodies have been offered enhanced terms on full electric vehicles because of the ZEV mandate. Initial terms were offered at 8% from the manufacturer, this has now increased to 18%.
The business is planning for the next five years to accommodate this shift to alternative fuel options where diesel engines will no longer be produced. This won’t affect our conversions, but the platforms for customers to buy for conversions remain uncertain for them.

Page 3

 
CPD GROUP HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

FINANCIAL KEY PERFORMANCE INDICATORS

The board monitors Group performance using a range of indicators, some of the most significant of which are
 as follows:
Key performance indicators

2024
2023

£
£
Turnover
26,307,207
37,913,511
Gross profit %
16.1%
21.2%
Net profit before tax as a % of turnover
9.1%
17.1%
Net profit before tax
2,381,007
6,482,266



This report was approved by the board on 28 March 2025 and signed on its behalf.



C P Doocey
Director

Page 4

 
CPD GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CPD GROUP HOLDINGS LIMITED
 

UNQUALIFIED OPINION


We have audited the financial statements of CPD Group Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2024, which comprise the Consolidated Statement of Income and Retained Earnings, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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's affairs as at 30 June 2024 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 United Kingdom, including the Financial Reporting Council'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.


EMPHASIS OF MATTER


We draw attention to note 3 in the financial statements which explains that the Research and Development tax credit is considered to be a material estimate. 
An amended return has been submitted for the 2023 corporation tax and HMRC have (since the year-end) made a refund to CPD Bodies Limited of £835,918.
The amounts involved are correctly disclosed within the financial statements.
This amended tax computation has been submitted by the directors following advice from a firm specialising in R&D claims. This includes judgements as to the level of qualifying expenditure. Until any potential enquiry window has closed this claim is subject to possible clawback from HMRC and the impact upon the closing reserves and stated profit could be material.
The current year tax charge includes a further refund in respect of qualifying expenditure in the year to 30 June 2024. In total this has resulted in a tax refund of £200,071.


Page 5

 
CPD GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CPD GROUP HOLDINGS LIMITED (CONTINUED)


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the director's 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 or 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 director with respect to going concern are described in the relevant sections of this report.


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


OPINION 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 Director's 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 Director's report have been prepared in accordance with applicable legal requirements.


Page 6

 
CPD GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CPD GROUP HOLDINGS LIMITED (CONTINUED)


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 Director's report.


We have nothing to report in respect of the following matters in relation to which 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 director's 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 Director's responsibilities statement set out on page 1, the director is 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 director determines is 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 director is 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 director either intends to liquidate the Group or the parent Company or to cease operations, or has no realistic alternative but to do so.


Page 7

 
CPD GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CPD GROUP HOLDINGS LIMITED (CONTINUED)


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 Group financial statements.


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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the group and the area in which it operates, and considered the risk of acts by the group that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material mistatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We identified the greatest potential for fraud is in the following areas: recognition and completeness of income, management override of controls and posting of unusual journals. We discussed these risks with management and designed audit procedures to test, the recognition and completeness of revenue, unusual transactions, inappropriate journals and transactions made outside of the normal control process. We reviewed journals posted around the year end to look for potential "window dressing". We also considered estimates and judgements made by management for evidence of bias, either individually or collectively.


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.


Page 8

 
CPD GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CPD GROUP HOLDINGS LIMITED (CONTINUED)


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 2006Our 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.





Paul Harrison MSc, BSc, FCA (Senior statutory auditor)
  
for and on behalf of
Waltons Business Advisers Limited
 
Chartered Accountants
Statutory Auditors
  
Maritime House
Harbour Walk
The Marina
Hartlepool
Teesside
TS24 0UX

28 March 2025
Page 9

 
CPD GROUP HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

30 June
30 June
2024
2023
Note
£
£

  

Turnover
  
26,307,207
37,913,511

Cost of sales
  
(22,078,775)
(29,890,909)

GROSS PROFIT
  
4,228,432
8,022,602

Administrative expenses
  
(2,213,628)
(1,683,285)

Other operating income
 4 
218,758
168,120

OPERATING PROFIT
 5 
2,233,562
6,507,437

Interest receivable and similar income
 9 
237,219
48,130

Interest payable and similar expenses
 10 
(89,774)
(73,301)

PROFIT BEFORE TAXATION
  
2,381,007
6,482,266

Tax on profit
 11 
1,223,123
(1,011,514)

PROFIT FOR THE FINANCIAL YEAR
  
3,604,130
5,470,752

  

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
3,604,130
5,470,752

PROFIT FOR THE YEAR ATTRIBUTABLE TO:
  

Non-controlling interests
  
578,363
1,107,835

Owners of the parent Company
  
3,025,767
4,362,917

  
3,604,130
5,470,752

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO:
  

Non-controlling interest
  
578,363
1,107,835

Owners of the parent Company
  
3,025,767
4,362,917

  
3,604,130
5,470,752

The notes on pages 22 to 40 form part of these financial statements.

Page 10

 
CPD GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 14185441

CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 13 
(1,158,452)
(1,303,258)

Tangible assets
 14 
2,360,966
2,343,036

Investment property
 16 
2,209,351
2,209,351

  
3,411,865
3,249,129

CURRENT ASSETS
  

Stocks
 17 
1,369,928
706,703

Debtors: amounts falling due within one year
 18 
4,159,006
3,791,460

Cash at bank and in hand
 19 
6,206,075
6,939,241

  
11,735,009
11,437,404

Creditors: amounts falling due within one year
 20 
(3,979,087)
(6,556,364)

NET CURRENT ASSETS
  
 
 
7,755,922
 
 
4,881,040

TOTAL ASSETS LESS CURRENT LIABILITIES
  
11,167,787
8,130,169

Creditors: amounts falling due after more than one year
 21 
(752,805)
(748,021)

PROVISIONS FOR LIABILITIES
  

Deferred taxation
 24 
(99,428)
(116,752)

NET ASSETS
  
 
 
10,315,554
 
 
7,265,396


CAPITAL AND RESERVES
  

Called up share capital 
 25 
100
100

Share premium account
 26 
929,900
929,900

Investment property reserve
 26 
600,000
600,000

Profit and loss account
 26 
7,033,521
4,212,917

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT COMPANY
  
8,563,521
5,742,917

Non-controlling interests
  
1,752,033
1,522,479

  
10,315,554
7,265,396


Page 11

 
CPD GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 14185441
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




C P Doocey
Director

The notes on pages 22 to 40 form part of these financial statements.

Page 12

 
CPD GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 14185441

COMPANY BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investments
 15 
930,100
930,100

  
930,100
930,100

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 18 
7,000
6,000

  
7,000
6,000

Creditors: amounts falling due within one year
 20 
(6,598)
(5,890)

NET CURRENT ASSETS
  
 
 
402
 
 
110

TOTAL ASSETS LESS CURRENT LIABILITIES
  
930,502
930,210

  

  

NET ASSETS
  
930,502
930,210


CAPITAL AND RESERVES
  

Called up share capital 
 25 
100
100

Share premium account
 26 
929,900
929,900

Profit and loss account brought forward
  
210
-

Profit for the year
  
205,455
150,210

Dividends

  

(205,163)
(150,000)

Profit and loss account carried forward
  
502
210

  
930,502
930,210


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.


C P Doocey
Director

The notes on pages 22 to 40 form part of these financial statements.

Page 13

 
CPD GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Share premium account
Investment property revaluation reserve
Profit and loss account
Equity attributable to owners of parent Company

£
£
£
£
£

At 1 July 2023
100
929,900
600,000
4,212,917
5,742,917



Profit for the year
-
-
-
3,025,767
3,025,767

Dividends: Equity capital
-
-
-
(205,163)
(205,163)


AT 30 JUNE 2024
100
929,900
600,000
7,033,521
8,563,521


Non-controlling interests
Total equity

£
£

At 1 July 2023
1,522,479
7,265,396



Profit for the year
578,363
3,604,130

Dividends: Equity capital
(348,809)
(553,972)


AT 30 JUNE 2024
1,752,033
10,315,554

Page 14

 
CPD GROUP HOLDINGS LIMITED
 


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024


Page 15

 
CPD GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Share premium account
Investment property revaluation reserve
Profit and loss account
Equity attributable to owners of parent Company

£
£
£
£
£



Profit for the period
-
-
-
4,362,917
4,362,917

Net assets acquired in subsidiary by minority interest at 1 July 2022
-
-
-
-
-

Revaluation movement
-
-
600,000
-
600,000

Dividends: Equity capital
-
-
-
(150,000)
(150,000)

Shares issued during the period
100
929,900
-
-
930,000


AT 30 JUNE 2023
100
929,900
600,000
4,212,917
5,742,917


Non-controlling interests
Total equity

£
£



Profit for the period
1,107,835
5,470,752

Net assets acquired in subsidiary by minority interest at 1 July 2022
632,144
632,144

Revaluation movement
-
600,000

Dividends: Equity capital
(217,500)
(367,500)

Shares issued during the period
-
930,000


AT 30 JUNE 2023
1,522,479
7,265,396


The notes on pages 22 to 40 form part of these financial statements.

Page 16

 
CPD GROUP HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 July 2023
100
929,900
210
930,210



Profit for the year
-
-
205,455
205,455

Dividends: Equity capital
-
-
(205,163)
(205,163)


AT 30 JUNE 2024
100
929,900
502
930,502


The notes on pages 22 to 40 form part of these financial statements.

Page 17

 
CPD GROUP HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£



Profit for the period
-
-
150,210
150,210

Dividends: Equity capital
-
-
(150,000)
(150,000)

Shares issued during the period
100
929,900
-
930,000


AT 30 JUNE 2023
100
929,900
210
930,210


The notes on pages 22 to 40 form part of these financial statements.

Page 18

 
CPD GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

CASH FLOWS FROM OPERATING ACTIVITIES

Profit after tax
3,604,130
5,470,752

ADJUSTMENTS FOR:

Amortisation of intangible assets
(144,806)
(144,804)

Depreciation of tangible assets
206,913
185,330

Loss on disposal of tangible assets
-
27,360

Government grants
(11,063)
-

Interest paid
89,774
73,301

Interest received
(237,219)
(6,212)

Taxation charge
(1,223,123)
1,011,514

(Increase) in stocks
(663,225)
(186,199)

Decrease/(increase) in debtors
327,088
(1,873,413)

(Decrease)/increase in creditors
(1,590,554)
2,090,368

Corporation tax (paid)
(593,315)
(137,727)

NET CASH GENERATED FROM OPERATING ACTIVITIES

(235,400)
6,510,270


CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of tangible fixed assets
(98,452)
(464,531)

Purchase of investment properties
-
(1,209,351)

Government grants received
11,063
-

Interest received
237,219
6,212

HP interest paid
(27,861)
(16,831)

Cash acquired on acquisition of subsidiary
-
3,087,122

NET CASH FROM INVESTING ACTIVITIES

121,969
1,402,621
Page 19

 
CPD GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024


2024
2023

£
£



CASH FLOWS FROM FINANCING ACTIVITIES

Issue of ordinary shares
-
(100)

New secured loans
250,000
-

Repayment of loans
(308,886)
(487,278)

Repayment of/new finance leases
55,036
(62,302)

Dividends paid
(205,163)
(150,000)

Interest paid
(61,913)
(56,470)

Dividends paid to non-controlling interests
(348,809)
(217,500)

NET CASH USED IN FINANCING ACTIVITIES
(619,735)
(973,650)

(DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS
(733,166)
6,939,241

Cash and cash equivalents at beginning of year
6,939,241
-

CASH AND CASH EQUIVALENTS AT THE END OF YEAR
6,206,075
6,939,241


CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE:

Cash at bank and in hand
6,206,075
6,939,241

6,206,075
6,939,241


The notes on pages 22 to 40 form part of these financial statements.

Page 20

 
CPD GROUP HOLDINGS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2024





At 1 July 2023
Cash flows
New finance leases
At 30 June 2024
£

£

£

£

Cash at bank and in hand

6,939,241

(733,166)

-

6,206,075

Debt due after 1 year

(520,000)

60,000

-

(460,000)

Debt due within 1 year

(708,886)

(1,371)

-

(710,257)

Finance leases

(297,997)

(181,427)

126,391

(353,033)


5,412,358
(855,964)
126,391
4,682,785

The notes on pages 22 to 40 form part of these financial statements.

Page 21

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

The Company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
97 Bowesfield Lane
Stockton on Tees
TS18 3HF

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

The director, having made due and careful enquiry and preparing forecasts, is of the opinion that the Group, has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement at the time of approving the financial statements that there is reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 22

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

  
2.5

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. As a result of the acquisition negative goodwill is recognised in the balance sheet.
Negative goodwill is amortised on a straight-line basis to the Consolidated statement of income and retained earnings over its useful economic life of 10 years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 23

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
50 years
Short-term leasehold property
-
over the lease term
Plant and machinery
-
8 years
Motor vehicles
-
4 years
Fixtures and fittings
-
8 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.10

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Page 24

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors believe that the following is critical due to the degree of estimation required and the potential material impact on the financial statements:
Research and Development Tax Credit
Note 11 shows an adjustment to the prior year tax charge. This is in respect of the research and development tax credit (R&D) included within the tax computation. An amended return has been submitted and HMRC have (since the year-end) made a refund to CPD Bodies Limited of £835,918. This amended tax computation has been submitted by the directors following advice from a firm specialising in R&D claims. This includes judgements as to the level of qualifying expenditure.
The current year tax charge includes a further refund in respect of qualifying expenditure in the year to 30 June 2024. In total this has resulted in a tax refund of £200,071.


4.


OTHER OPERATING INCOME

30 June
30 June
2024
2023
£
£

Other operating income
144,806
144,806

Net rents receivable
48,249
23,314

Government grants receivable
11,063
-

Insurance claim
14,640
-

218,758
168,120



5.


OPERATING PROFIT

The operating profit is stated after charging:

30 June
30 June
2024
2023
£
£

Research & development charged as an expense
3,715,364
1,030,955

Other operating lease rentals
103,051
146,995

Page 25

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the Company's auditors:


30 June
30 June
2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
3,240
2,500

Fees payable to the Company's auditors in respect of:

The auditing of accounts of associates of the Company
15,250
16,536

Taxation compliance services
-
1,000

All non-audit services not included above
41,915
13,525


7.


EMPLOYEES

Staff costs, including director's remuneration, were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
2,263,182
2,190,077

Social security costs
190,211
173,766

Cost of defined contribution scheme
98,638
82,505

2,552,031
2,446,348


The average monthly number of employees, including the director, during the year was as follows:



Group
Group
Company
Company
        30 June
         30 June
        30 June
         30 June
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Production
69
76
-
-



Administration and directors
14
11
1
1

83
87
1
1

Page 26

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


DIRECTOR'S REMUNERATION

30 June
30 June
2024
2023
£
£

Director's emoluments
77,500
11,977

Group contributions to defined contribution pension schemes
40,133
30,143

117,633
42,120


During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.


9.


INTEREST RECEIVABLE

30 June
30 June
2024
2023
£
£


Other interest receivable
237,219
48,130

237,219
48,130


10.


INTEREST PAYABLE AND SIMILAR EXPENSES

30 June
30 June
2024
2023
£
£


Bank interest payable
61,913
55,883

Finance leases and hire purchase contracts
27,861
16,831

Other interest payable
-
587

89,774
73,301

Page 27

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


TAXATION


30 June
30 June
2024
2023
£
£

Corporation tax


Current tax on profits for the year
(193,071)
1,034,676

Adjustments in respect of previous periods
(1,012,728)
-


(1,205,799)
1,034,676


Total current tax
(1,205,799)
1,034,676

Deferred tax


Origination and reversal of timing differences
(17,324)
(67,345)

Changes to tax rates
-
44,183

Total deferred tax
(17,324)
(23,162)


Tax on profit
(1,223,123)
1,011,514
Page 28

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
11.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR/PERIOD

The tax assessed for the year/period is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 20.5%). The differences are explained below:

30 June
30 June
2024
2023
£
£


Profit on ordinary activities before tax
2,381,007
6,482,265


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 20.5%)
595,252
1,324,503

Effects of:


Non-tax deductible amortisation of goodwill and impairment
(36,202)
(29,679)

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
44,972
27,065

Capital allowances for year/period in excess of depreciation
4,935
(62,942)

Utilisation of tax losses
(171,319)
-

Adjustments to tax charge in respect of prior periods
(1,012,728)
-

Short-term timing difference leading to an increase (decrease) in taxation
(17,324)
(23,163)

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
(928,908)
(224,190)

Adjustment to losses available due to R&D loss surrender
300,106
-

Differences in tax rate across Group
(1,907)
-

Marginal relief
-
(128)

Transfer pricing adjustments
-
48

Total tax charge for the year/period
(1,223,123)
1,011,514


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 29

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


DIVIDENDS

2024
2023
£
£


Ordinary dividends
205,163
150,000

205,163
150,000


13.


INTANGIBLE ASSETS

Group





Negative goodwill

£



Cost


At 1 July 2023
(1,448,064)



At 30 June 2024

(1,448,064)



Amortisation


At 1 July 2023
(144,806)


Charge for the year on owned assets
(144,806)



At 30 June 2024

(289,612)



Net book value



At 30 June 2024
(1,158,452)



At 30 June 2023
(1,303,258)

Negative goodwill has been created as a result of the cost of the investment being less than the new assets acquired by the group.



Page 30

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.


TANGIBLE FIXED ASSETS

Group






Freehold property
Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings

£
£
£
£
£



Cost


At 1 July 2023
993,342
693,632
254,980
457,276
129,136


Additions
-
5,131
19,167
191,791
8,754



At 30 June 2024

993,342
698,763
274,147
649,067
137,890



Depreciation


At 1 July 2023
2,241
22,298
50,183
86,214
24,394


Charge for the year on owned assets
946
959
47,124
23,457
19,754


Charge for the year on financed assets
-
-
-
110,266
4,407



At 30 June 2024

3,187
23,257
97,307
219,937
48,555



Net book value



At 30 June 2024
990,155
675,506
176,840
429,130
89,335



At 30 June 2023
991,101
671,334
204,797
371,062
104,742
Page 31

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

           14.TANGIBLE FIXED ASSETS (CONTINUED)


Total

£



Cost


At 1 July 2023
2,528,366


Additions
224,843



At 30 June 2024

2,753,209



Depreciation


At 1 July 2023
185,330


Charge for the year on owned assets
92,240


Charge for the year on financed assets
114,673



At 30 June 2024

392,243



Net book value



At 30 June 2024
2,360,966



At 30 June 2023
2,343,036

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
-
35,905

Motor vehicles
322,696
304,571

Furniture, fittings and equipment
12,853
17,260

335,549
357,736

Page 32

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

15.


FIXED ASSET INVESTMENTS

Company





Investments in subsidiary companies

£



Cost


At 1 July 2023
930,100



At 30 June 2024
930,100





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

CPD Bodies Limited
97 Bowesfield Lane
Stockton on Tees
A Ordinary
79%
CPD Land and Property Limited
as above
Ordinary
100%


The aggregate of the share capital and reserves as at 30 June 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

CPD Bodies Limited
10,120,347
2,754,108

CPD Land and Property Limited
733,372
711,924

Page 33

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

16.


INVESTMENT PROPERTY

Group


Freehold investment property

£



Valuation


At 1 July 2023
2,209,351



At 30 June 2024
2,209,351

The investment property was valued at fair value by the director when purchased in 2023. The fair value was based on the purchase price. No depreciation is provided. Changes in fair value are recognised in the
profit and loss.

2024
2023
£
£

Revaluation reserves


At 1 July 2023
600,000
-

Net surplus/(deficit) in movement properties
-
600,000

At 30 June 2024
600,000
600,000








17.


STOCKS

Group
Group
2024
2023
£
£

Raw materials and consumables
747,698
287,953

Work in progress (goods to be sold)
101,343
98,250

Finished goods and goods for resale
520,887
320,500

1,369,928
706,703


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 34

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

18.


DEBTORS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
1,762,855
2,127,535
-
-

Amounts owed by group undertakings
-
-
7,000
6,000

Other debtors
2,250,190
1,147,014
-
-

Prepayments and accrued income
145,961
516,911
-
-

4,159,006
3,791,460
7,000
6,000



19.


CASH AND CASH EQUIVALENTS

Group
Group
2024
2023
£
£

Cash at bank and in hand
6,206,075
6,939,241

6,206,075
6,939,241



20.


CREDITORS: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
310,000
308,886
-
-

Other loans
400,000
400,000
-
-

Trade creditors
2,586,662
3,847,218
-
-

Amounts owed to group undertakings
-
-
1,202
100

Corporation tax
7,000
985,088
-
-

Other taxation and social security
300,578
628,485
-
-

Obligations under finance lease and hire purchase contracts
60,228
71,372
-
-

Other creditors
527
143,659
-
-

Accruals and deferred income
314,092
171,656
5,396
5,790

3,979,087
6,556,364
6,598
5,890


Page 35

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

21.


CREDITORS: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Bank loans
460,000
520,000

Net obligations under finance leases and hire purchase contracts
292,805
226,626

Accruals and deferred income
-
1,395

752,805
748,021


The bank loans are secured by a fixed and floating charge on the assets of the company.
The net obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.
An amount of £300,000 included in other loans is secured on the investment property.


22.


LOANS


Analysis of the maturity of loans is given below:


Group
Group
2024
2023
£
£

Amounts falling due within one year

Bank loans
310,000
308,886

Other loans
400,000
400,000

Amounts falling due 1-2 years

Bank loans
310,000
260,000

Amounts falling due 2-5 years

Bank loans
150,000
260,000


1,170,000
1,228,886


Page 36

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

23.


FINANCIAL INSTRUMENTS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
6,206,075
6,939,241
-
-

Financial assets that are debt instruments measured at amortised cost
4,013,045
3,274,549
-
6,000

10,219,120
10,213,790
-
6,000


Financial liabilities

Financial liabilities measured at amortised cost
(4,724,892)
(6,319,297)
-
(5,890)


Financial assets measured at fair value through profit or loss comprises of cash at bank and in hand.


Financial assets that are debt instruments measured at amortised cost comprised of trade debtors and other debtors.


Financial liabilities that are debt instruments are measured at amortised cost comprise of trade creditors, other taxes and social security, bank and other loans, obligations under finance and hire purchases contracts, other creditors and accruals.


24.


DEFERRED TAXATION


Group



2024


£






At beginning of year
(116,752)


Charged to profit or loss
17,324



At end of year
(99,428)

Page 37

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
24.DEFERRED TAXATION (CONTINUED)







The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Accelerated capital allowances
99,428
116,752

99,428
116,752


25.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



26.


RESERVES

Share premium account

The share premium account in the Company represents the cost of the shares issues above their nominal value.

Investment property revaluation reserve

The investment property revaluation reserve represents the revaluation of the investment in excess of its cost.

Profit and loss account

The profit and loss account represents the cumulative profits and losses, net of dividends paid and any other adjustments.

Page 38

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

27.


CAPITAL COMMITMENTS




At 30 June 2024 the Group and Company had capital commitments as follows:


Group
Group
2024
2023
£
£

Contracted for but not provided in these financial statements
(699,166)
(550,000)

(699,166)
(550,000)


28.


PENSION COMMITMENTS

The Group contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £98,638 (2023: £82,505).
Contributions of nil (2023: £2,420) were payable to the fund at the balance sheet date.


29.


COMMITMENTS UNDER OPERATING LEASES

At 30 June 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
29,694
33,463

Later than 1 year and not later than 5 years
28,744
58,437

58,438
91,900


30.


RELATED PARTY TRANSACTIONS

Dividends of £205,163 have been paid to the director.
At 30 June 2024, £1,206,293 
(2023: £791,078) is due from the director. This is the maximum amount outstanding during the period and has no date for repayment.
At 30 June 2024, £5,000 
(2023: £5,000) was due from a company in which the director has an interest, and is included in other debtors.
At 30 June 2024, £21,600 
(2023: £21,600) was due from a partnership in which the director has an interest, and is included in other debtors.

Page 39

 
CPD GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

31.


CONTROLLING PARTY

The Group is controlled by C P Doocey.

 
Page 40