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REGISTERED NUMBER: 03886916 (England and Wales)




















Financial Statements

for the Year Ended 31 December 2024

for

Confederation of Paper Industries
Limited

Confederation of Paper Industries
Limited (Registered number: 03886916)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Confederation of Paper Industries
Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: P J Willink
A Large
N Fishburne
K J Bussey
U Lofgren



SECRETARY: N Fishburne



REGISTERED OFFICE: Kingston House
Lydiard Fields
Swindon
Wiltshire
SN5 8UB



REGISTERED NUMBER: 03886916 (England and Wales)



BANKERS: Coutts and Co
440 Strand
London
WC2R 0QR



SOLICITORS: Thrings LLP
6 Drakes Meadow
Penny Lane
Swindon
Wiltshire
SN3 3LL

Confederation of Paper Industries
Limited (Registered number: 03886916)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 12,647 12,917
Investments 6 264,972 264,972
277,619 277,889

CURRENT ASSETS
Debtors 7 758,427 330,682
Cash at bank 2,061,585 2,412,188
2,820,012 2,742,870
CREDITORS
Amounts falling due within one year 8 1,651,451 1,596,521
NET CURRENT ASSETS 1,168,561 1,146,349
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,446,180

1,424,238

RESERVES
Retained earnings 1,446,180 1,424,238
1,446,180 1,424,238

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 14 May 2025 and were signed on its behalf by:





N Fishburne - Director


Confederation of Paper Industries
Limited (Registered number: 03886916)

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

1. STATUTORY INFORMATION

The Company is a private Company limited by guarantee and is registered in England and Wales. The address of the Company's registered office is shown on the company information page.

2. STATEMENT OF COMPLIANCE

The financial statements of the Company have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102 Section 1A, "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland ("FRS 102 1A") and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of land and buildings and certain financial assets and liabilities measured at fair value through profit or loss.

The preparation of financial statements in conformity with FRS 102 1A requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies.

The company's functional and presentation currency is the pound sterling.

Revenue recognition
Revenue relates to subscription fees and recharges to members. Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the inputed rate of interest.

The Company recognises revenue when the following conditions are satisfied:
i. the Company has provided the service;
ii. the amount of revenue can be measured reliably;
iii. it is probable that the economic benefits associated with the transaction can be measured reliably.

Subscription fee income
Turnover from subscription income is recognised on a time basis. Any income that does not relate to the period in which it arises is either accrued or deferred accordingly.

Sale of services
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest receivable
Interest income is recognised using the effective interest method.

Dividend income
Dividend income is recognised when the right to receive payment is established.

Confederation of Paper Industries
Limited (Registered number: 03886916)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values
Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:

Short leasehold- Straight line over the period of the lease
Fixtures and fittings- 25% on straight line basis
Computer equipment- 33% on straight line basis

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

Financial instruments
Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, 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 receipts discounted at a market rate of interest.

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

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Confederation of Paper Industries
Limited (Registered number: 03886916)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Cash and cash equivalent
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024 22,377
Additions 8,228
Disposals (2,135 )
At 31 December 2024 28,470
DEPRECIATION
At 1 January 2024 9,460
Charge for year 8,272
Eliminated on disposal (1,909 )
At 31 December 2024 15,823
NET BOOK VALUE
At 31 December 2024 12,647
At 31 December 2023 12,917

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 867,233
PROVISIONS
At 1 January 2024
and 31 December 2024 602,261
NET BOOK VALUE
At 31 December 2024 264,972
At 31 December 2023 264,972

Confederation of Paper Industries
Limited (Registered number: 03886916)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 641,607 231,971
Other debtors - 8,444
Prepayments 116,820 90,267
758,427 330,682

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,362 43,922
Amounts owed to group undertakings 4,148 -
Social security and other taxes 295,847 277,594
Other creditors 48,715 44,479
Deferred income 1,287,379 1,230,526
1,651,451 1,596,521

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 40,152 38,281
Between one and five years 13,502 38,980
53,654 77,261

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

The Report of the Auditors was unqualified.

Martin Longmore (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

11. RELATED PARTY DISCLOSURES

The Paper Sector Climate Change Management Co. Limited (TMC)
Subsidiary

During the year the company made sales to TMC of £323,653 (2023: £310,086).
The company was due £2,901 from TMC at the year end and this is included in trade debtors (2023: £1,273).

Papercycle Limited
Subsidiary

The company owed £4,148 to Papercycle at the year end and this is included in amounts owed to group undertakings (2023: £Nil).