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Registration number: 02997187

CMP (UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 15

 

Company Information

Director

Mr PW Dawe

Registered office

G3 The Fulcrum
Vantage Way
Mannings Heath Road
Poole
Dorset
BH12 4NU

Accountants

Elysium
Chartered AccountantsUnit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

(Registration number: 02997187)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

458,940

374,230

Investments

7

2

2

 

458,942

374,232

Current assets

 

Stocks

8

42,816

40,777

Debtors

9

328,981

272,698

Cash at bank and in hand

 

3,249

2,923

 

375,046

316,398

Creditors: Amounts falling due within one year

10

(424,601)

(376,966)

Net current liabilities

 

(49,555)

(60,568)

Total assets less current liabilities

 

409,387

313,664

Creditors: Amounts falling due after more than one year

10

(278,349)

(198,504)

Provisions for liabilities

(87,199)

(85,422)

Net assets

 

43,839

29,738

Capital and reserves

 

Called up share capital

11

19,168

19,168

Capital redemption reserve

1,001

1,001

Revaluation reserve

22,500

48,750

Retained earnings

1,170

(39,181)

Shareholders' funds

 

43,839

29,738

 

(Registration number: 02997187)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 2 May 2025
 

.........................................
Mr PW Dawe
Director

 

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Capital redemption reserve
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2024

19,168

1,001

48,750

(39,181)

29,738

Profit for the year

-

-

-

132,351

132,351

Other comprehensive income

-

-

(26,250)

-

(26,250)

Total comprehensive income

-

-

(26,250)

132,351

106,101

Dividends

-

-

-

(92,000)

(92,000)

At 31 December 2024

19,168

1,001

22,500

1,170

43,839

Share capital
£

Capital redemption reserve
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2023

19,168

1,001

75,000

1,144

96,313

Loss for the year

-

-

-

(325)

(325)

Other comprehensive income

-

-

(26,250)

-

(26,250)

Total comprehensive income

-

-

(26,250)

(325)

(26,575)

Dividends

-

-

-

(40,000)

(40,000)

At 31 December 2023

19,168

1,001

48,750

(39,181)

29,738

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
G3 The Fulcrum
Vantage Way
Mannings Heath Road
Poole
Dorset
BH12 4NU

These financial statements were authorised for issue by the director on 2 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

With the exception of plant and machinery, tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and machinery is stated in the balance sheet at its revalued amount. Revalued amounts equate to the far value of the asset at the date of revaluation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are carried out periodically so that the carrying amount of the asset does not materially differ from its fair value at the balance sheet date.

Transfers are made annually between the revaluation reserve and profit and loss reserves equivalent to the excess depreciation that has been charged in respect of revalued assets.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class

Depreciation method and rate

Improvements to property

15% and 25% reducing balance

Plant & machinery

15% reducing balance

Fixtures & fittings

10% reducing balance

Motor vehicles

25% reducing balance

Office equipment

33% on cost and 25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Written off over 2 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 13).

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

59,028

36,735

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

1,000

1,000

At 31 December 2024

1,000

1,000

Amortisation

At 1 January 2024

1,000

1,000

At 31 December 2024

1,000

1,000

Carrying amount

At 31 December 2024

-

-

6

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

78,835

155,936

435,495

211,710

1,133

883,109

Additions

4,122

-

146,199

916

-

151,237

At 31 December 2024

82,957

155,936

581,694

212,626

1,133

1,034,346

Depreciation

At 1 January 2024

46,293

132,322

122,806

206,624

834

508,879

Charge for the year

4,913

2,361

57,868

1,310

75

66,527

At 31 December 2024

51,206

134,683

180,674

207,934

909

575,406

Carrying amount

At 31 December 2024

31,751

21,253

401,020

4,692

224

458,940

At 31 December 2023

32,542

23,614

312,689

5,086

299

374,230

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Revaluation

The fair value of the company's plant and machinery was revalued on 31 December 2019. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2023 - £Nil).

7

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 January 2024

2

Provision

Carrying amount

At 31 December 2024

2

At 31 December 2023

2

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

CDR UK Limited

G3 The Fulcrum, Vantage Way, Poole Dorset BH12 4NU

England

£1 Ordinary shares

100%

100%

Subsidiary undertakings

CDR UK Limited

The principal activity of CDR UK Limited is Dormant.

8

Stocks

2024
£

2023
£

Other inventories

42,816

40,777

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

169,535

163,037

Amounts owed by related parties

15

1,796

1,796

Prepayments

 

14,633

14,246

Other debtors

 

143,017

93,619

   

328,981

272,698

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

13

230,684

210,548

Trade creditors

 

143,422

126,091

Taxation and social security

 

26,777

16,241

Accruals and deferred income

 

15,642

11,150

Other creditors

 

8,076

12,936

 

424,601

376,966

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

13

278,349

198,504

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

£1 Ordinary "A" of £1 each

19,164

19,164

19,164

19,164

£1 Ordinary "B" of £1 each

1

1

1

1

£1 Ordinary "C" of £1 each

1

1

1

1

£1 Ordinary "D" of £1 each

1

1

1

1

£1 Ordinary "E" of £1 each

1

1

1

1

19,168

19,168

19,168

19,168

12

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(26,250)

(26,250)

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

13

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

81,429

72,500

Hire purchase contracts

65,957

96,380

Other borrowings

130,963

29,624

278,349

198,504

Current loans and borrowings

2024
£

2023
£

Bank borrowings

41,650

49,167

Bank overdrafts

102,251

102,636

Hire purchase contracts

30,423

30,423

Other borrowings

56,360

28,322

230,684

210,548

Bank borrowings

Bounce Back Loan is denominated in pounds with a nominal interest rate of 5%%, and the final instalment is due on 18 May 2027. The carrying amount at year end is £72,500 (2023 - £102,500).

Other borrowings

Rowanmoor Trustees Limited is denominated in Pounds with a nominal interest rate of 3.5%, and the final instalment was due on 18 July 2027. The carrying amount at year end is £50,596 (2023 - £54,196).

There is a debenture and fixed charge in favour of Rowanmoor Trustees Limited.

Hire Purchase is denominated in pounds with a nominal interest rate of 14.50%, and the final instalment was due on 30 August 2029. The carrying amount at year end is £132,695 (2023 - £3,750).

Hire Purchase is denominated in pounds with a nominal interest rate of 8%, and the final instalment was due on 28 April 2027. The carrying amount at year end is £45,513 (2023 - £62,063).

HP agreements are charged against the specific assets being financed.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

14

Dividends

Interim dividends paid

 

2024
£

2023
£

Interim dividend of £38,000 (2023 - £12,000) per each £1 Ordinary "B" share

38,000

12,000

Interim dividend of £38,000 (2023 - £12,000) per each £1 Ordinary "C" share

38,000

12,000

Interim dividend of £8,000 per each £1 Ordinary "D" share

8,000

8,000

Interim dividend of £8,000 per each £1 Ordinary "E" share

8,000

8,000

 

92,000

40,000

15

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr PW Dawe

Loan from company

72,513

71,308

(44,963)

98,858

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr PW Dawe

Loan from company

117,771

84,742

(130,000)

72,513

16

Parent and ultimate parent undertaking

The company's immediate parent is Platinum Holdings Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr P Dawe.