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Company registration number: 06602534
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FOR THE YEAR ENDED
31 MARCH 2022
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COMPANY INFORMATION
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S C Barker (resigned 22 September 2022)
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P J Simpson (resigned 12 July 2022)
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B P Freeman (appointed 24 October 2022)
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Chartered Accountants & Statutory Auditor
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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CDP OPERATIONS LIMITED
REGISTERED NUMBER:06602534
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 income and retained earnings 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 by:
The notes on pages 2 to 5 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
CDP Operations Limited is a private Company limited by shares, incorporated in England and Wales under the Companies Act.
The address of the registered office is disclosed on the Company information page.
2.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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The directors have a reasonable expectation, based on cash flow forecasts and future bankings, that the Company has adequate resources and the group's support to continue in operational existence for the foreseeable future.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
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.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.
Income from the sale of services and from service and license fee arrangements is recognised in the period to which it relates when the Company is legally entitled to the income, it is probable that the income will be received, and the amount can be measured with reasonable accuracy.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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The average monthly number of employees, including directors, during the year was 3 (2021 - 3).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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CDP Operations holds an unlimited multilateral guarantee with CDP Worldwide dated 21 September 2018. In addition, there is a debenture dated 4 September 2018 including fixed charge over all present freehold and leasehold property; first fixed charge of book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertakings both present and future.
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The ultimate parent company is CDP Worldwide, whose registered office is 4th Floor, 60 Great Tower Street, London, United Kingdom, EC3R 5AZ. Copies of the consolidated accounts for CDP Worldwide are available at Companies House.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
The auditors' report on the financial statements for the year ended 31 March 2022 was unqualified.
The audit report was signed on 26 January 2023 by Janice Matthews FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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