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Unaudited Financial Statements
CD PTC Holdings Limited
For the year ended 30 November 2024





































Registered number: NI642162

 
CD PTC Holdings Limited
 

Company Information


Directors
J Luce (resigned 26 June 2024)
S Mullins (resigned 26 June 2024)
J Ward (resigned 26 June 2024)
P Cross (appointed 26 June 2024)
T Cross (appointed 26 June 2024)




Registered number
NI642162



Registered office
Killaney Lodge
Carryduff Road

Lisburn

BT27 6TZ




Accountants
Grant Thornton Advisors (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH





 
CD PTC Holdings Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7


  
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Independent Accountant's Report to the directors of the unaudited financial statements of CD PTC Holdings Limited for the year ended 30 November 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of CD PTC Holdings Limited for the year ended 30 November 2024, which comprise the Statement of comprehensive income, the Balance sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements. 
 
This report is made solely to the directors of CD PTC Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of CD PTC Holdings Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CD PTC Holdings Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410  (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board  (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered  Accountants Ireland relating to members undertaking the compilation of financial statements. 

You have approved the financial statements for the year ended 30 November 2024 and you have acknowledged on the Balance sheet as at 30 November 2024 your duty to ensure that CD PTC Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that CD PTC Holdings Limited is exempt from the statutory audit requirement for the year ended 30 November 2024.

We have not been instructed to carry out an audit or review the financial statements of CD PTC Holdings Limited. 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. 




  


Grant Thornton Advisors (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   15 August 2025
Page 1

 
CD PTC Holdings Limited
Registered number:NI642162

Balance sheet
As at 30 November 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
-
22,576,008

  
-
22,576,008

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1

  
-
1

Creditors: amounts falling due within one year
 7 
-
(22,586,227)

Net current assets/(liabilities)
  
 
 
-
 
 
(22,586,226)

Total assets less current liabilities
  
-
(10,218)

  

Net assets/(liabilities)
  
-
(10,218)


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
 9 
(1)
(10,219)

  
-
(10,218)


Page 2

 
CD PTC Holdings Limited
Registered number:NI642162

Balance sheet (continued)
As at 30 November 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 August 2025.




T Cross
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
CD PTC Holdings Limited
 
 
Notes to the financial statements
For the year ended 30 November 2024

1.


General information

CD PTC Holdings Limited is a private company limited by shares and is incorporated and registered in Northern Ireland. The address of the registered office is 368 Newtonards Road, Belfast, BT4 1HG. 
The principal activity of the Company is that of a holding company. Following the year end the directors commenced the process of winding up the Company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared on a basis other than going concern, which is described as the break-up basis. The preparation of financial statements on a break-up basis is a departure from the requirement of FRS102 and company law to prepare financial statements on a going concern basis. This departure is made in order to comply with the overriding requirement in the Companies Act 2006 for the financial statements to give a true and fair view. The break-up basis requires the carrying value of the assets to be at the amounts they are expected to realise and liabilities include any amounts which have crystallised as a result of the decision to wind up the company. The application of the break-up basis has had no impact on the results for the year. In all other respects the financial statements have been prepared in accordance with the accounting framework.
The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.3

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.4

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Page 4

 
CD PTC Holdings Limited
 

Notes to the financial statements
For the year ended 30 November 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Carrying value of investments
Investment in associate undertakings is measured at cost less accumulated impairment. Where there is an indication of impairment the recoverable amount is estimated and compared with the carrying amount. The estimate of recoverable amount is considered in light of the trading and balance sheet strength of the associate undertaking together with the director's best estimate of future performance of the associate undertaking.


4.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
CD PTC Holdings Limited
 
 
Notes to the financial statements
For the year ended 30 November 2024

5.


Fixed asset investments





Investments in associates

£





At 1 December 2023
22,576,008


Disposals
(3,146,021)


Amounts written off
(19,429,987)



At 30 November 2024
-





6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
1

-
1



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to connected company
-
22,585,087

Accruals
-
1,140

-
22,586,227



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



9.


Reserves

Profit and loss account

Includes all current and prior period retained profit and losses. 

Page 6

 
CD PTC Holdings Limited
 
 
Notes to the financial statements
For the year ended 30 November 2024

10.


Related party transactions

The company has availed of the exemption under FRS102 section 33 which does not require disclosure of transactions entered into between any subsidary undertaking which is wholly owned by a member of that group. 
During the year CD PTC Holdings Limited advanced net funds of £22,585,087 to a company that was connected by virtue of common control. At the Balance sheet date the amount owed to the connected company was £Nil (2023: £22,587,087).


11.


Post balance sheet events

Following the year end the directors commenced the process of winding up the Company.


12.


Controlling party

At the year end the company is a wholly owned subidiary of Cross FT Limited, a company incorporated in Northern Ireland. 
The ultimate controlling party at the year end is Terence Cross.


Page 7