C P Group of Companies Limited - Period Ending 2017-09-30

Registration number: 05086794

C P Group of Companies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

Walker & Sutcliffe
Chartered Accountants
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN

C P Group of Companies Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

C P Group of Companies Limited

Company Information

Director

Mr A J Taylor

Registered office

12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Accountants

Walker & Sutcliffe Chartered Accountants 12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Page 1

C P Group of Companies Limited

(Registration number: 05086794)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Fixed assets
Investments	3	5,230,654	5,230,654
Current assets
Debtors	4	2,065,836	2,215,981
Cash at bank and in hand		67,365	38,839
		2,133,201	2,254,820
Creditors: Amounts falling due within one year	5	(5,508,614)	(5,509,106)
Net current liabilities		(3,375,413)	(3,254,286)
Total assets less current liabilities		1,855,241	1,976,368
Creditors: Amounts falling due after more than one year	5	(795,417)	(912,084)
Net assets		1,059,824	1,064,284
Capital and reserves
Called up share capital		5,300,000	5,300,000
Profit and loss account		(4,240,176)	(4,235,716)
Total equity		1,059,824	1,064,284

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 January 2018
 

.........................................

Mr A J Taylor

Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

C P Group of Companies Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN
England

The principal place of business is:
George Street
Armytage Road Industrial Estate
Brighouse
WEST YORKSHIRE
HD6 1PY
United Kingdom

These financial statements were authorised for issue by the director on 8 January 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is £ sterling.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts. .

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 3

C P Group of Companies Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Investments

	2017 £	2016 £
Investments in subsidiaries	5,230,654	5,230,654

Page 4

C P Group of Companies Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Subsidiaries	£
Cost or valuation
At 1 October 2016	15,922,829
Provision
At 1 October 2016	10,692,175
Carrying amount
At 30 September 2017	5,230,654
At 30 September 2016	5,230,654

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2017	2016
Subsidiary undertakings
CP Interiors Ltd	12 Greenhead Road, Huddersfield, HD1 4EN	Ordinary	100%	100%
	England & Wales

The principal activity of CP Interiors Ltd is Holding company

4

Debtors

	2017 £	2016 £
Prepayments	-	145
Other debtors	2,065,836	2,215,836
	2,065,836	2,215,981

Page 5

C P Group of Companies Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

5

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	7	150,000	150,000
Trade creditors		234	3,372
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	5,355,439	5,355,439
Accruals and deferred income		2,941	295
		5,508,614	5,509,106

Creditors: amounts falling due after more than one year

	Note	2017 £	2016 £
Due after one year
Loans and borrowings	7	795,417	912,084

6	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary of £1 each	68,697	68,697	68,697	68,697
A Ordinary of £1 each	231,303	231,303	231,303	231,303
A Preference of £1 each	5,000,000	5,000,000	5,000,000	5,000,000
	5,300,000	5,300,000	5,300,000	5,300,000

7	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Other borrowings	795,417	912,084

Page 6

C P Group of Companies Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

	2017 £	2016 £
Current loans and borrowings
Other borrowings	150,000	150,000

8	Related party transactions

Summary of transactions with subsidiaries

CP Interiors Ltd
 At the balance sheet date the amount due to CP Interiors Ltd was £5,355,439 (2016 - £5,355,439).
 

9

Control

In the opinion of the directors, AJ Taylor is the ultimate controlling party of the group.

10	Transition to FRS 102

There are no adjustments to disclose in relation to the transition to FRS102 in the current year.

Page 7