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Financial Statements |
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for the Year Ended 31 December 2020 |
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for |
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CPL LEARNING LIMITED |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2020 |
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for |
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CPL LEARNING LIMITED |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Contents of the Financial Statements |
for the year ended 31 December 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CPL LEARNING LIMITED |
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Company Information |
for the year ended 31 December 2020 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Auditors: |
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Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Balance Sheet |
31 December 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
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Investments | 6 |
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Current assets |
Debtors | 7 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 11 |
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Retained earnings | 12 |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements |
for the year ended 31 December 2020 |
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1. | Statutory information |
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CPL Learning Limited is a
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The company's trading address is Bridge Court, 110 Canning Street, Birkenhead, CH41 1EW. |
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the 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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In response to the COVID-19 pandemic, the directors have considered the impact on the business and have taken remedial measures in the short term. Possible future scenarios have been considered, together with the actions that could be taken to mitigate the impact e.g. further bank or government support packages. Based on these assessments and the current working capital available to the company, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
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The following principal accounting policies have been applied: |
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Preparation of consolidated financial statements |
The financial statements contain information about CPL Learning Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Mondiale Hospitality Holdings LLP, Waterloo Place, Watson Square, Stockport, Cheshire, SK1 3AZ. |
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Turnover |
Revenue is recognised to the extent that is 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 discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
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Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied. |
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• the amount of revenue can be measured reliably; |
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• it is probable that the company will receive the consideration due under the contract; |
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• the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
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• the costs incurred and the costs to complete the contract can be measured reliably. |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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3. | Accounting policies - continued |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
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Grants |
The accrual model has been adopted in the recognition of grant income. This model requires the grant to be classified as either revenue -based grant or capital-based grant. |
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Grants which relates to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. e.g. grants relating to running cost will be recognised as income immediately, but grants relating to balance sheet items will be deferred and released to income in line with the associated depreciation policy. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form. |
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The company's cash at bank and in hand and trade and other debtors and its trade and other creditors and bank overdrafts are measured initially at the transaction price, including transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Current and deferred taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Operating leases |
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity, Once the contributions have been paid the company has no further payment obligations. |
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The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds. |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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3. | Accounting policies - continued |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
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4. | Employees and directors |
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The average number of employees during the year was
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5. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 January 2020 |
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Additions |
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Disposals | ( |
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Reclassification/transfer |
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At 31 December 2020 |
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Depreciation |
At 1 January 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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Reclassification/transfer |
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At 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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Fixed asset transfers related to items acquired on the transfer of trade and assets from a fellow subsidiary. |
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6. | Fixed asset investments |
Shares in |
group |
undertakings |
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Cost |
At 1 January 2020 |
and 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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6. | Fixed asset investments - continued |
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Subsidiary undertakings |
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The following were subsidiary undertakings of the company; |
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Name | Class of shares | Holding | Principal activity |
CPL E Learning Limited | Ordinary | 100% | Dormant |
CPL Mobile Limited | Ordinary | 100% | Dormant |
Globexlive Limited | Ordinary | 100% | Dormant |
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The registered office of the above subsidiary undertakings is Waterloo Place, Watson Square, Stockport, England, SK1 3AZ. |
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7. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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9. | Leasing agreements |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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10. | Deferred tax |
£ |
Balance at 1 January 2020 | ( |
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Charge to Profit and Loss Account during year |
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Acquisition in the year | 574 |
Balance at 31 December 2020 | ( |
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CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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11. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £0.01 | 100 | 100 |
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12. | Reserves |
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The company's capital and reserves are as follows: |
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Called up share capital |
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Called up share capital represents the nominal value of the shares issued. |
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Profit and loss account |
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The profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments. |
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13. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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Matters to which the auditor drew attention by way of emphasis |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
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However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. The Directors' view on the impact of COVID-19 is disclosed in the accounting policies. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of the audit report. |
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14. | Pension commitments |
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The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £115,235 (31 December 2019 - £83,849). At year end the amount owed to the pension scheme was £20,622 (31 December 2019 - £8,732). |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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15. | Related party disclosures |
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During the year a management charge of £100,131 (31 December 2019 - £100,000) has been charged from a company related by common control. |
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During the year there were group recharges received of £180,256 (31 December 2019 - £nil) from a company related by common control. |
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Key management personnel include all directors of the company who together have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company is borne by fellow group undertakings. |
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On 1 January 2020 CPL Training Group Limited hived up their trade, assets and liabilties to the company. CPL Training Group was a company under common control. |
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16. | Post balance sheet events |
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Post year end amounts owed to group undertakings amounting to £85,898 have been waived. |
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17. | Ultimate parent undertaking controlling party |
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The immediate parent undertaking of the company is CPL Technology Group Limited, incorporated in England and Wales. The registered office of CPL Technology Group Limited is Waterloo Place, Watson Square, Stockport, England, SK1 3AZ. |
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The parent undertaking of the smallest and largest group for which consolidated accounts are prepared is Mondiale Hospitality Holdings LLP. Consolidated accounts are available from their registered office at Waterloo Place, Watson Square, Stockport, Cheshire, SK1 3AZ. |
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Mondiale Hospitality Holdings LLP is ultimately controlled by D S Walsh. |