Abbreviated Company Accounts - CPS (WALES) GROUP LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Other accounting policies
Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2Fixed assets Investments
FIXED ASSETS

Investments
£
COST
At 1 December 2014 and 30 November 2015 1,062
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Subsidiary undertakings Holding Country of incorporation Proportion of voting rights and shares held

CPS (Wales) Limited Ordinary shares England & Wales 100%

CPS Assets Limited Ordinary shares England & Wales 100%

SM Print & Litho Limited Ordinary B shares England & Wales 60%

Nelsons Labels Limited Ordinary shares England & Wales 100%

Subsidiary undertakings Nature of business

CPS (Wales) Limited Packaging of materials

CPS Assets Limited Packaging of materials

SM Print & Litho Limited Printing services

Nelsons Labels Limited Printing services
2015 2014
£ £

Aggregate capital and reserves

CPS (Wales) Limited 1,120,842 1,094,526

CPS Assets Limited – –

SM Print & Litho Limited – –

Nelsons Labels Limited – –

Profit for the period

CPS (Wales) Limited 689,298 386,771

CPS Assets Limited – –

SM Print & Litho Limited – –

Nelsons Labels Limited – –



AMOUNTS WRITTEN OFF
Charge for year 62
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At 30 November 2015 62
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NET BOOK VALUE
At 30 November 2015 1,000
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At 30 November 2014 1,062
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