CP Plus Holdings Limited - Accounts to registrar (filleted) - small 18.2

CP PLUS HOLDINGS LIMITED

Financial Statements

for the Year Ended 30 June 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

E A Green

I S Langdon

Secretary:

E A Green

Registered office:

10 Flask Walk

London

NW3 1HE

Registered number:

05885194 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

-

2,587

Investments

5

17,637,193

12,284,943

Investment property

6

1,615,000

1,615,000

19,252,193

13,902,530

Current assets

Debtors

7

509,623

51,894

Cash at bank

327,766

520,068

837,389

571,962

Creditors

Amounts falling due within one year

8

9,720,092

6,027,315

Net current liabilities

(8,882,703

)

(5,455,353

)

Total assets less current liabilities

10,369,490

8,447,177

Provisions for liabilities

9

55,568

55,568

Net assets

10,313,922

8,391,609

Capital and reserves

Called up share capital

10

75,000

75,000

Share premium

11

10,659,500

10,659,500

Capital redemption reserve

11

37,500

37,500

Retained earnings

11

(458,078

)

(2,380,391

)

Shareholders' funds

10,313,922

8,391,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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.

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 16 June 2020 and were signed on its behalf by:

E A Green - Director

1.	Statutory information

CP Plus Holdings Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number is 05885194 and registered office address is 10 Flask Walk, London, NW3 1HE.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about CP Plus Holdings Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

The company acts as a holding company and revenue is recognised on the provision of management services

and recorded in the period to which it relates.

Tangible fixed assets

Tangible fixed assets other than freehold property are stated at cost less depreciation. Depreciation is provided

at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life,

as follows:

Fixtures and fittings 33% straight line

Investments in subsidiaries

Investments comprising shares in group undertakings and unlisted investments are recognised at fair value.

Investment property

Investment properties are included in the balance sheet at their open market value in accordance with Financial

Reporting Standard 102 and are not depreciated. This treatment is contrary to the Companies' Act 2006 which

states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a

true and fair view of the financial position of the company.

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.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Debtors and creditors are measured at amortised cost using the effective interest rate method. A provision is

established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are an integral part of the company's cash management.

Going concern

The directors consider the going concern basis to be appropriate because in their opinion the company will

continue to obtain sufficient funding from a related company on whom it is dependent to enable it to pay its

debts as they fall due. The related company has indicated that it will provide such support for the foreseeable

future.

3.	Employees and directors

The average number of employees during the year was NIL (2018 - NIL).

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 July 2018

and 30 June 2019

7,759

Depreciation

At 1 July 2018

5,172

Charge for year

2,587

At 30 June 2019

7,759

Net book value

At 30 June 2019

-

At 30 June 2018

2,587

5.	Fixed asset investments

Shares in

group

Listed

Unlisted

undertakings

investments

investments

Totals

£

£

£

£

Cost or valuation

At 1 July 2018

465,637

2,053,342

9,765,964

12,284,943

Additions

-

1,333,588

6,403,428

7,737,016

Disposals

-

(1,085,474

)

(1,695,003

)

(2,780,477

)

Revaluations

-

(331,433

)

727,144

395,711

At 30 June 2019

465,637

1,970,023

15,201,533

17,637,193

Net book value

At 30 June 2019

465,637

1,970,023

15,201,533

17,637,193

At 30 June 2018

465,637

2,053,342

9,765,964

12,284,943

Cost or valuation at 30 June 2019 is represented by:

Shares in

group

Listed

Unlisted

undertakings

investments

investments

Totals

£

£

£

£

Valuation in 2016

-

144,470

-

144,470

Valuation in 2017

-

208,995

-

208,995

Valuation in 2018

-

292,447

-

292,447

Valuation in 2019

-

(331,433

)

727,144

395,711

Cost

465,637

1,655,544

14,474,389

16,595,570

465,637

1,970,023

15,201,533

17,637,193

6.	Investment property

Total

£

Fair value

At 1 July 2018

and 30 June 2019

1,615,000

Net book value

At 30 June 2019

1,615,000

At 30 June 2018

1,615,000

Fair value at 30 June 2019 is represented by:

£

Valuation in 2017

(71,412

)

Valuation in 2018

35,000

Cost

1,651,412

1,615,000

7.

Debtors: amounts falling due within one year

2019

2018

£

£

Amounts owed by group undertakings

352,400

-

Other debtors

-

41,209

Directors' current accounts

100,170

-

Tax

57,053

-

VAT

-

10,685

509,623

51,894

8.

Creditors: amounts falling due within one year

2019

2018

£

£

Tax

-

59,542

VAT

80,188

-

Other creditors

9,639,904

5,967,773

9,720,092

6,027,315

9.	Provisions for liabilities

2019

2018

£

£

Deferred tax

On fair value gains

55,568

55,568

Deferred tax

£

Balance at 1 July 2018

55,568

Balance at 30 June 2019

55,568

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

750,000

Ordinary

£0.10

75,000

75,000

11.

Reserves

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 July 2018

(2,380,391

)

10,659,500

37,500

8,316,609

Profit for the year

1,922,313

1,922,313

At 30 June 2019

(458,078

)

10,659,500

37,500

10,238,922

Included within retained earnings at the year end are non distributable profits of £1,005,211 (2018: £609,500),

relating to the fair value revaluations of investments.

12.	Related party disclosures

Included in other creditors at the year end is an amount of £9,639,904 (2018: £5,967,773) due to related

companies under common control.