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REGISTERED NUMBER: 04703674 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2025

for

CP Nitro Ltd

CP Nitro Ltd (Registered number: 04703674)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

CP Nitro Ltd

Company Information
for the Year Ended 31 January 2025







DIRECTORS: M D Barnes
Mrs C E Barnes
Mrs T J Hayden
C A Barnes





SECRETARY: Mrs C E Barnes





REGISTERED OFFICE: 27F Pennygillam Way
Launceston
Cornwall
PL15 7ED





REGISTERED NUMBER: 04703674 (England and Wales)





ACCOUNTANTS: Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR

CP Nitro Ltd (Registered number: 04703674)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 405,284 381,122

CURRENT ASSETS
Stocks 55,935 53,575
Debtors 5 96,253 144,321
Cash at bank and in hand 175,944 188,595
328,132 386,491
CREDITORS
Amounts falling due within one year 6 266,665 295,202
NET CURRENT ASSETS 61,467 91,289
TOTAL ASSETS LESS CURRENT LIABILITIES 466,751 472,411

CREDITORS
Amounts falling due after more than one
year

7

(86,126

)

(79,993

)

PROVISIONS FOR LIABILITIES (90,281 ) (94,083 )
NET ASSETS 290,344 298,335

CAPITAL AND RESERVES
Called up share capital 1,320 1,320
Retained earnings 10 289,024 297,015
SHAREHOLDERS' FUNDS 290,344 298,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CP Nitro Ltd (Registered number: 04703674)

Balance Sheet - continued
31 January 2025


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 Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:




M D Barnes - Director C A Barnes - Director




Mrs T J Hayden - Director


CP Nitro Ltd (Registered number: 04703674)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

CP Nitro 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on cost, 25% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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 year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CP Nitro Ltd (Registered number: 04703674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2024 4,791 886,896 523,682 50,709 1,466,078
Additions - 32,072 111,370 2,862 146,304
Disposals - - (72,600 ) (958 ) (73,558 )
At 31 January 2025 4,791 918,968 562,452 52,613 1,538,824
DEPRECIATION
At 1 February 2024 - 770,466 277,896 36,594 1,084,956
Charge for year - 22,277 87,500 4,148 113,925
Eliminated on disposal - - (64,771 ) (570 ) (65,341 )
At 31 January 2025 - 792,743 300,625 40,172 1,133,540
NET BOOK VALUE
At 31 January 2025 4,791 126,225 261,827 12,441 405,284
At 31 January 2024 4,791 116,430 245,786 14,115 381,122

CP Nitro Ltd (Registered number: 04703674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2024 109,994
Additions 44,500
At 31 January 2025 154,494
DEPRECIATION
At 1 February 2024 37,130
Charge for year 29,341
At 31 January 2025 66,471
NET BOOK VALUE
At 31 January 2025 88,023
At 31 January 2024 72,864

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 73,991 58,781
Other debtors 22,262 85,540
96,253 144,321

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 30,662 10,508
Trade creditors 63,193 133,662
Taxation and social security 126,103 121,613
Other creditors 36,707 19,419
266,665 295,202

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.25 31.1.24
£    £   
Hire purchase contracts (see note 8) 82,792 66,660
Other creditors 3,334 13,333
86,126 79,993

CP Nitro Ltd (Registered number: 04703674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.25 31.1.24
£    £   
Net obligations repayable:
Within one year 30,662 10,508
Between one and five years 82,792 66,660
113,454 77,168

Non-cancellable operating leases
31.1.25 31.1.24
£    £   
Within one year 38,000 -
Between one and five years 152,000 -
In more than five years 190,000 -
380,000 -

The lease for the rental of the unit at 27F Pennygillam Way, Launceston commenced on 29 October 2024 and is paid on a quarterly basis.
The lease for the rental of the depot at Ringwood has now expired and rent is paid on a quarterly basis.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.25 31.1.24
£    £   
Hire purchase contracts 113,454 77,168

There was a bank overdraft secured by a fixed and floating charge registered by Barclays Bank plc on 11 August 2016, as well as personal guarantees of the directors. This charge was fully satisfied on 9 August 2024.

Hire purchase and finance lease commitments are secured on the relevant assets

10. RESERVES
Retained
earnings
£   

At 1 February 2024 297,015
Profit for the year 166,939
Dividends (174,930 )
At 31 January 2025 289,024

CP Nitro Ltd (Registered number: 04703674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25 31.1.24
£    £   
M D Barnes and Mrs C E Barnes
Balance outstanding at start of year 74,990 -
Amounts advanced 1,177 88,990
Amounts repaid (76,167 ) (14,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 74,990

Interest has been charged at HMRC official rate of interest of 2.25%.

The directors loan account was repaid in full on 26 October 2024.

12. RELATED PARTY DISCLOSURES

The company paid rent of £33,345 to Mr M Barnes, who owned the building at 27F Pennygillam Way, Launceston. Within the year, Mr M Barnes sold the building at 27F Pennygillam Way. The company also paid rent of £790 to Mr and Mrs C E Barnes and £312 to Ms T Hayden.

During the year total dividends of £174,930 (2024 £154,270) were paid to the directors.

13. ULTIMATE CONTROLLING PARTY

No one director or shareholder has control of the company

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
CP Nitro Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CP Nitro Ltd for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CP Nitro Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CP Nitro Ltd and state those matters that we have agreed to state to the Board of Directors of CP Nitro Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CP Nitro Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CP Nitro Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CP Nitro Ltd. You consider that CP Nitro Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CP Nitro Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR


22 April 2025