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Financial Statements |
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for the period |
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1 January 2021 to 30 June 2021 |
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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 period |
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1 January 2021 to 30 June 2021 |
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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 period 1 January 2021 to 30 June 2021 |
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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 period 1 January 2021 to 30 June 2021 |
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Directors: |
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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 |
30 June 2021 |
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2021 | 2020 |
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 period 1 January 2021 to 30 June 2021 |
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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 company was acquired by Access UK Limited on 16 April 2021. On that date the business was hived up to a fellow Access group subsidiary.and since that date the company has not traded. Accordingly these accounts are not drawn up on a going concern basis. |
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The following principal accounting policies have been applied: |
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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. |
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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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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the period 1 January 2021 to 30 June 2021 |
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3. | Accounting policies - continued |
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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 period 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. |
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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 period was
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CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the period 1 January 2021 to 30 June 2021 |
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5. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 January 2021 |
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Additions |
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Disposals | ( |
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Reclassification/transfer | ( |
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At 30 June 2021 |
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Depreciation |
At 1 January 2021 |
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Charge for period |
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Eliminated on disposal | ( |
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Reclassification/transfer | ( |
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At 30 June 2021 |
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Net book value |
At 30 June 2021 |
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At 31 December 2020 |
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Fixed asset reclassifications/transfers relate to items transferred to Access UK Ltd as part of the hive up during the period as disclosed in the basis of preparation note. |
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6. | Fixed asset investments |
Shares in |
group |
undertakings |
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Cost |
At 1 January 2021 |
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Reclassification/transfer | ( |
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At 30 June 2021 |
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Net book value |
At 30 June 2021 |
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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 period 1 January 2021 to 30 June 2021 |
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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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Reclassifications/transfers relate to items transferred to Access UK Ltd as part of the hive up during the period as disclosed in the basis of preparation note. |
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7. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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8. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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Social security and other taxes |
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VAT | - | 207,201 |
Other creditors |
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Accruals and deferred income |
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9. | Leasing agreements |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the period 1 January 2021 to 30 June 2021 |
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10. | Deferred tax |
£ |
Balance at 1 January 2021 | ( |
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Charge to Profit and Loss Account during period |
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Transferred on hive-up | (9,983 | ) |
Balance at 30 June 2021 |
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11. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
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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In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures made in the notes to the financial statements. The business of the company was hived up to a fellow group subsidiary and has ceased trading during the year. Accordingly the financial statements have not been prepared on a going concern basis. |
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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 £31,646 (31 December (2020 - £115,235) At year end the amount owed to the pension scheme was £nil (31 December 2020 - £20,622) |
CPL LEARNING LIMITED (REGISTERED NUMBER: 06976340) |
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Notes to the Financial Statements - continued |
for the period 1 January 2021 to 30 June 2021 |
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15. | Related party disclosures |
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On 16 April 2021 CPL Learning Limited was acquired by Access UK Limited, and the business transferred to a fellow group company. |
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Pre-acquisition a management charge of £29,545 (31 December 2020 - £100,131) has been charged from a company related by common control. |
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Pre-acquisition there were group recharges received of £7,750 (31 December 2020 - £180,256) 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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The immediate parent undertaking is CPL Technology Group Limited. |
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The ultimate parent undertaking is Aldrin Topco Limited, a company incorporated in England and Wales. |
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The Directors do not consider there to be an Ultimate Controlling party, control is jointly exercised by funds managed by TA Associates L.P. and Hg Capital LLP. |