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Registered number: 05785385
WPP CP FINANCE PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Registered office address:
Sea Containers House
18 Upper Ground
London
SE1 9GL
United Kingdom
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WPP CP FINANCE PLC
CONTENTS
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Independent Auditors' Report
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Statement of Changes in Equity
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Notes to the Financial Statements
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WPP CP FINANCE PLC
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their Strategic Report on WPP CP Finance PLC (the 'Company') for the year ended 31 December 2025.
The Company is a member of the WPP plc Group (the 'Group'). The Company's principal activity is to act as a financing company.
The Directors do not envisage any major change to the nature of the business in the foreseeable future.
The Company made a loss for the year ended 31 December 2025 of £1,029,000 which will be transferred from reserves (2024: a profit of £72,000 which was transferred to reserves).
The Directors are of the opinion that the current level of activity and performance is sustainable, due to the positive financial position of the Company and will remain so for the foreseeable future. Further details are provided in the "Going concern and liquidity risk" section.
The Company did not pay any dividend in the current or prior year.
Going concern and liquidity risk
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The Directors have assessed the ongoing business activities and the factors likely to affect the future development, performance and financial position of the Company for at least the next 12 months from the date of signing the financial statements.
The Company has net current assets and net assets of £515,000 and can therefore meet its short and long-term obligations as they fall due.
After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least the next 12 months from the date of signing the financial statements. The Company is a subsidiary of WPP plc and is therefore a beneficiary of the overall WPP plc financing arrangements.
The Directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Financial risk management and principal risks and uncertainties
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The Directors of the Company have considered the principal risks and uncertainties affecting the Company as at 31 December 2025 and up to date of this report. The principal risks for the Company are shown below:
Credit risk
The Company is subject to credit risk principally through amounts owed by fellow group undertakings, including from cash pool arrangements. These amounts are subject to monitoring in line with the WPP plc treasury policies.
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WPP CP FINANCE PLC
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Environmental matters and streamlined energy and carbon reporting (SECR)
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The Company will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Company has complied with all applicable legislation and regulations. As the Company is a UK subsidiary of WPP plc, its SECR reporting details are included, together with the other Group subsidiaries, in the WPP plc Annual report. Refer to pages 43-49 of the 2025 Annual report of WPP plc available at wpp.com/investors for more information.
Financial key performance indicators
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During 2025, the Company issued several euro-denominated commercial paper notes, the proceeds of which were on-lent to another group undertaking. This activity resulted in higher finance income, finance expense and foreign exchange exposure during the year compared to 2024, in which no such activity occurred. All commercial paper issued during the year was settled prior to the year end, with no commercial paper outstanding at 31 December 2025. These activities contributed to the loss for the year.
Directors' statement of compliance with duty to promote the success of the Company
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The Directors of the company, as of those of all UK companies, must act in accordance with section 172 of the Companies Act 2006. The Directors are of the opinion that they have acted fairly and in good faith to promote the success of the company for its members.
In doing this, section 172 requires the directors to have regard for, among other matters:
∙The likely consequences of any decision in the long term.
∙The interests of the Company’s employees.
∙The need to foster the Company’s business relationship with suppliers, customers and others.
∙The impact of the Company’s operations on the community and environment.
∙The desirability of the Company maintaining a reputation for high standards of business conduct.
∙The need to act fairly as between members of the Company.
Consequences of any long-term decisions
Our business philosophy is to create long term value. We build our business and all our relationships with integrity. We also strive to attract and retain profitability as this will lead to growth in the long term.
Employees
The Company has no employees.
Business relationship with suppliers, customers and others
The Company has no suppliers or customers.
Community and Environment
We consider our impact on the wider community and environment of our business activities. We adhere to the Sustainability policy which can be found at the website of the ultimate parent company at wpp.com. The policy includes objectives focusing on key impacts under our control and influence such as minimising the impact from energy use, transport, consumption of paper, water use and managing any sustainability risks in our supply chain.
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WPP CP FINANCE PLC
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Directors' statement of compliance with duty to promote the success of the Company (continued)
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Business conduct
We have a number of key policies, including modern slavery, anti-bribery, corruption and data protection, all of which can be found on the website of the ultimate parent company at wpp.com. We have a zero-tolerance approach to corruption and bribery and policies are in place for areas such as ethical business relationships with customers, suppliers and employees, gift giving and receiving, charitable donations and competition laws.
Acting fairly as between members of the company
As a wholly owned subsidiary of WPP plc, our interests are aligned with those of our ultimate parent.
This report was approved by the board on 1 June 2026 and signed on its behalf.
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WPP CP FINANCE PLC
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their Annual report and the audited financial statements for the year ended 31 December 2025.
The Company's results for the financial year are shown in the income statement on page 10.
Directors and their interests
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The Directors who served during the year and up to the date of signing of the financial statements, unless otherwise stated, were:
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K Johnson (resigned 29 July 2025)
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T Martel (appointed 29 July 2025, resigned 11 February 2026)
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No Director had, during the year or at the end of the year, any material interest in any contract of significance to the Company’s business.
Each of the Directors benefit from a third party qualifying indemnity given by the Company in respect of liabilities incurred by the Director in the execution and discharge of their duties. The provision remains in force throughout the financial year and up until the date of this report.
Directors' responsibilities statement
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The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have 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 101 ‘Reduced Disclosure Framework’. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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WPP CP FINANCE PLC
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Matters covered in the Strategic Report
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The following items have been included in the strategic report on pages 1 - 3:
∙principal activities and future developments;
∙review of business;
∙dividends paid or declared;
∙going concern statement;
∙financial risk management policies and objectives; and
∙environmental matters and streamlined energy and carbon reporting.
Disclosure of information to auditors
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Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and
∙the Director 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's auditors are aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
Post balance sheet events
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On 9 March 2026, the Company issued €50 million worth of commercial paper notes. The notes matured on 27 March 2026.
Under section 487(2) of the Companies Act 2006, PricewaterhouseCoopers LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on 1 June 2026 and signed on its behalf.
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WPP CP FINANCE PLC
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WPP CP FINANCE PLC
Report on the audit of the financial statements
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Opinion
In our opinion, WPP CP Finance PLC’s financial statements:
∙give a true and fair view of the state of the company’s affairs as at 31 December 2025 and of its loss for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework”, and applicable law); and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements, included within the Annual Report and Financial Statements (the “Annual Report”), which comprise:
∙the Balance Sheet as at 31 December 2025;
∙the Income Statement for the year then ended;
∙the Statement of Changes in Equity for the year then ended; and
∙the notes to the financial statements, comprising material accounting policy information and other explanatory information.
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
Conclusions relating to going concern
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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 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.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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WPP CP FINANCE PLC
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WPP CP FINANCE PLC (CONTINUED)
Reporting on other information
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The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.
In connection with our audit of the financial statements, 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 audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. 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 based on these responsibilities.
With respect to the Strategic report and Directors' Report, we also considered whether the disclosures required by the Companies Act 2006 have been included.
Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.
Strategic report and Directors' Report
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In our opinion, based on the work undertaken in the course of the audit, the information given in the Strategic report and Directors' Report for the year ended 31 December 2025 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Strategic report and Directors' Report.
Responsibilities for the financial statements and the audit
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Responsibilities of the directors for the financial statements
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As explained more fully in the Directors' responsibilities statement, the directors are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The directors are also responsible for such internal control as they determine 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 directors are responsible for assessing the 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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WPP CP FINANCE PLC
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WPP CP FINANCE PLC (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
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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 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.
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to the Companies Act 2006, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the manipulation of financial reporting through the use of inappropriate journal entries. Audit procedures performed by the engagement team included:
∙Identifying and, where applicable, testing unusual journal entries, in particular journal entries posted with unusual account combinations impacting interest payable and similar expenses and administrative expenses;
∙Reviewing minutes of meetings of the Board of Directors; and
∙Enquiring with management and those charged with governance, including consideration of any known or suspected instances of non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement 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.
A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.
This report, including the opinions, has been prepared for and only for the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
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WPP CP FINANCE PLC
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WPP CP FINANCE PLC (CONTINUED)
Other required reporting
Companies Act 2006 exception reporting
Under the Companies Act 2006 we are required to report to you if, in our opinion:
∙we have not obtained all the information and explanations we require for our audit; or
∙adequate accounting records have not been kept by the company or returns adequate for our audit have not been received from branches not visited by us; or
∙the company's financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made.
We have no exceptions to report arising from this responsibility.
Ryan Morley (Senior Statutory Auditor)
for and on behalf of
PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London, United Kingdom
1 June 2026
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WPP CP FINANCE PLC
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
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Interest receivable and similar income
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Interest payable and similar expenses
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(Loss)/profit for the financial year
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There are no items of other comprehensive income for 2025 or 2024 other than the (loss)/profit for the year. As a result, no separate Statement of Comprehensive Income has been presented.
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The notes on pages 13 to 19 form part of these financial statements.
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WPP CP FINANCE PLC
REGISTERED NUMBER: 05785385
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Trade and other receivables
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Total assets less current liabilities
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The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 June 2026.
The notes on pages 13 to 19 form an integral part of these financial statements.
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WPP CP FINANCE PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Profit and total comprehensive income for the year
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Loss and total comprehensive expense for the year
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company is a public company, limited and is incorporated in the United Kingdom under the Companies Act 2006. The Company is registered in England and Wales. The address of the registered office is Sea Containers House, 18 Upper Ground, London, SE1 9GL, United Kingdom.
The Company's principal business activities, future development and a review of its performance and position are set out in the strategic report on pages 1 - 3.
2.Material accounting policies
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Basis of preparation of financial statements
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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 101 'Reduced Disclosure Framework' ("FRS 101") and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The accounting policies have been applied consistently, other than where new policies have been
adopted. The following principal accounting policies have been applied:
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Financial Reporting Standard 101 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
- paragraph 79(a)(iv) of IAS 1;
∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Material accounting policies (continued)
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Consolidation and ultimate parent company
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The Company is a wholly owned subsidiary of its ultimate parent company. WPP plc, a company incorporated in Jersey, is the Company's ultimate parent undertaking and controlling party. The largest group of undertakings for which group financial statements are prepared and which include the results of the Company are the consolidated financial statements of WPP plc. The registered address of WPP plc is 22 Grenville Street, St Helier, Jersey, JE4 8PX. Copies of the consolidated financial statements can be obtained from www.wpp.com/investors. The smallest group of undertakings for which group financial statements are prepared and which include the results of the Company are the consolidated financial statements of WPP Jubilee Limited, registered in the England and Wales. The registered address of WPP Jubilee Limited is Sea Containers House, 18 Upper Ground, London, SE1 9GL, United Kingdom. The immediate parent undertaking is WPP 2005 Limited.
The Directors have assessed the ongoing business activities and the factors likely to affect the future development, performance and financial position of the Company for at least the next 12 months from the date of signing the financial statements.
The Company has net current assets and net assets of £515,000 and can therefore meet its short and long-term obligations as they fall due.
After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least the next 12 months from the date of signing the financial statements. The Company is a subsidiary of WPP plc and is therefore a beneficiary of the overall WPP plc financing arrangements.
The Directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
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Impact of new international reporting standards, amendments and interpretations
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The Company has applied the following standards and amendments for the first time for the reporting period commencing 1 January 2025:
∙Lack of Exchangeability (Amendments to IAS 21)
The amendments listed above did not have any impact on the amounts recognised in prior periods or the current period, and are not expected to significantly affect future periods.
At the date of authorisation of these financial statements, the following standards or amendments to standards, which have not been applied in these financial statements, were in issue but not yet effective:
∙Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7). The Company is currently assessing the impact of these standards.
∙Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9 and IFRS 7). These amendments to standards are not expected to have a material impact in these financial statements as the Company does not hold any such contracts.
∙Translation to a Hyperinflationary Presentation Currency (Amendments to IAS 21). No impact is expected on these financial statements.
∙IFRS 18 "Presentation and Disclosure in Financial Statements". The Company is currently assessing the impact of this standard.
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Material accounting policies (continued)
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Impact of new international reporting standards, amendments and interpretations (continued)
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∙IFRS 19 "Subsidiaries without Public Accountability Disclosures". The Company is currently assessing the impact of this standard.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is Pounds sterling (£).
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss within administrative expenses.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
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.
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Material accounting policies (continued)
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Trade and other receivables
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Trade and other receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any provisions for expected credit losses.
Provisions are made based on an expected credit loss approach where the Company estimates the lifetime expected credit loss, taking into account ageing, previous experience and general economic conditions. When a trade or other receivable is determined to be uncollectable it is written off, firstly against any provisions available and then to the income statement. Subsequent recoveries of amounts previously provided for are credited to the income statement. Long-term receivables are discounted where the effect is material.
The Company is a participant in the Group's 'zero balancing' pooling arrangements with a fellow Group company acting as the cash pool leader of these cash pools within the UK. The Company can transact as normal on its bank accounts and any overall external cash and/or overdraft balances will be held and reported by the cash pool leader. The 'zero balancing' pooling arrangements are available to the Company to enable it to meet its liabilities as they fall due and to enable it to act as a source of funding for the Group's UK companies. All related amounts owing to/from the cash pool leader are short-term in nature and reported as amounts due to/from group undertakings under current assets or current liabilities as applicable.
Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.
Ordinary shares are classified as equity.
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Critical accounting judgements and key sources of estimation uncertainty
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In the application of the Company’s accounting policies, the Directors are required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate are recognised in the period in which the estimate is revised if the revision only affects only that period or in the period of the revision and future periods if the revision affects both current and future period.
In the opinion of the Directors there are no critical judgements or accounting estimates that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next financial year.
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Auditors' remuneration of £17,600 for the audit of the Company's financial statements for the year ended 31 December 2025 has been borne by another Group entity (2024: £15,143 borne by another Group entity).
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The Company has no employees (2024: nil).
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During the year all Directors of the Company were remunerated as executives of the Group by a fellow Group company. They received no remuneration in respect of their services to the Company (2024: £nil).
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Interest receivable and similar income
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Group interest receivable
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During the year, the Company raised funds through commercial papers denominated in EUR from external banks. The proceeds were subsequently on-lent to another Group company under an intercompany loan arrangement. Accordingly, the related interest expense on the commercial paper borrowing and the corresponding interest income on the intercompany loan have been presented separately within interest expense and interest income, respectively.
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Interest payable and similar expenses
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During the year, the Company raised funds through commercial papers denominated in EUR from external banks. The proceeds were subsequently on-lent to another Group company under an intercompany loan arrangement. Accordingly, the related interest expense on the commercial paper borrowing and the corresponding interest income on the intercompany loan have been presented separately within interest expense and interest income, respectively.
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Current tax on (loss)/profits for the year
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Factors affecting tax (credit)/charge for the year
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The tax assessed for the year is the same as (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
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(Loss)/profit multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
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Total tax (credit)/charge for the year
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Factors that may affect future tax charges
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The Company belongs to a group that falls within the scope of the OECD Pillar Two top-up tax rules income taxes which applied in the UK from 1 January 2024. Based upon the Group's initial assessments, the Group does not expect top-up taxes in the UK and therefore no related current tax has been provided.
There were no factors that may affect future tax charges.
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WPP CP FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Trade and other receivables
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Amounts owed by group undertakings
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Amounts owed from Group undertakings represents intra-group loans with a fellow Group company in relation to the cash pooling arrangement. These accrued a range of variable interest rates with reference to SONIA, €STR and SOFR plus an additional 0.30% or 0.50% during the year and are repayable on demand.
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Amounts owed to group undertakings
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Amounts owed to Group undertakings represents intra-group loans with a fellow Group company in relation to the cash pooling arrangement. These accrued a range of variable interest rates with reference to SONIA, €STR and SOFR plus an additional 0.30% or 0.50% during the year and are repayable on demand.
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Allotted, called up and fully paid
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200,000 (2024 - 200,000) Ordinary shares of £1 each
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Related party transactions
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As a wholly owned subsidiary of the ultimate parent company, WPP plc, advantage has been taken of the exemption afforded by FRS 101 'Reduced Disclosure Framework' not to disclose any related party transactions with other wholly owned members of the Group, or information around remuneration of key management personnel.
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Post balance sheet events
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On 9 March 2026, the Company issued €50 million worth of commercial paper notes. The notes matured on 27 March 2026.
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