CP Plus (Trading) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09035056 (England and Wales)

CP Plus (Trading) Limited

Financial Statements

for the Year Ended 30 June 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

I S Langdon

E A Green

A G Lewis

Secretaries:

S Green

S I Royston

K R Green

L Langdon

Registered office:

Jack Straw's Castle

12 North End Way

London

NW3 7ES

Registered number:

09035056 (England and Wales)

Auditors:

Cooper Parry Group Limited

Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Investments

4

37,001,349

37,001,349

Investment property

5

3,500,000

-

40,501,349

37,001,349

Current assets

Stocks

-

3,500,000

Debtors

6

17,324,711

19,268,881

Cash at bank

7,466,937

5,916,894

24,791,648

28,685,775

Creditors

Amounts falling due within one year

7

10,642,973

11,272,858

Net current assets

14,148,675

17,412,917

Total assets less current liabilities

54,650,024

54,414,266

Capital and reserves

Called up share capital

8

50,675

50,675

Share premium

24,949,296

24,949,296

Retained earnings

29,650,053

29,414,295

Shareholders' funds

54,650,024

54,414,266

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 18 December 2023 and were signed on its behalf by:

E A Green - Director

1.	Statutory information

CP Plus (Trading) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows, in making their assessment.

Based on these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are included in the Balance sheet at their open market value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments policy

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently 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.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Key sources of estimation uncertainty and judgements

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is also estimation uncertainty in calculating stock provisions. Slow moving and obsolete stocks are monitored during the year. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remain a risk that the provisions do not match the ultimate unrealised value of stock held.

3.	Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 July 2022

and 30 June 2023

37,001,349

Net book value

At 30 June 2023

37,001,349

At 30 June 2022

37,001,349

5.	Investment property

Total

£

Fair value

Reclassification/transfer

3,500,000

At 30 June 2023

3,500,000

Net book value

At 30 June 2023

3,500,000

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Amounts owed by group undertakings

11,853,041

14,068,611

Other debtors

5,471,670

5,200,270

17,324,711

19,268,881

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

3,770

3,608

Amounts owed to group undertakings

2,888,490

2,750,948

Taxation and social security

293,629

133,399

Other creditors

7,457,084

8,384,903

10,642,973

11,272,858

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

506,750

Ordinary

0.1

50,675

50,675

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Jonathan Moughton (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

10.	Related party disclosures

Included within debtors is £5,460,110 (2022: £5,200,154) due to companies under common control. Included within creditors are balances amounting to £4,721,818 (2022: £6,021,818) owed to directors and their spouses.

The company received £260,005 (2022: £247,626) of interest income on the debtors to connected companies and accrued interest of £472,182 (2022: £602,182) on balances owed to directors and their spouses.

11.	Ultimate controlling party

The ultimate controlling party is the parent company Trade TopCo Limited, a company controlled by E A Green, I S Langdon, A G Lewis and related parties acting in concert.