CPM People Employment Group Ltd - Period Ending 2016-12-31
CPM People Employment Group Ltd - Period Ending 2016-12-31
Registration number:
CPM People Employment Group Ltd
for the Year Ended 31 December 2016
CPM People Employment Group Ltd
Contents
Company Information |
|
Director's Report |
|
Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
CPM People Employment Group Ltd
Company Information
Director |
Mr Solomon Williams |
Registered office |
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Page 1 |
CPM People Employment Group Ltd
Director's Report for the Year Ended 31 December 2016
The director presents his report and the financial statements for the year ended 31 December 2016.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of management consultancy services
Small companies provision statement
This report has 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.
Approved by the
......................................... |
Page 2 |
CPM People Employment Group Ltd
Profit and Loss Account for the Year Ended 31 December 2016
Note |
2016 |
2015 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross (loss)/profit |
( |
|
|
Administrative expenses |
( |
( |
|
Operating (loss)/profit |
( |
|
|
Interest payable and similar expenses |
|
( |
|
11,411 |
(392) |
||
Loss before tax |
- |
( |
|
Loss for the financial year |
- |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 3 |
CPM People Employment Group Ltd
Statement of Comprehensive Income for the Year Ended 31 December 2016
2016 |
2015 |
|
Loss for the year |
- |
( |
Total comprehensive income for the year |
- |
( |
Page 4 |
CPM People Employment Group Ltd
(Registration number: 08770197)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
- |
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Total equity |
|
|
For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
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.
Approved and authorised by the
.........................................
Mr Solomon Williams
Director
Page 5 |
CPM People Employment Group Ltd
Statement of Changes in Equity for the Year Ended 31 December 2016
Share capital |
Total |
|
At 1 January 2016 |
100 |
100 |
At 31 December 2016 |
|
|
Share capital |
Profit and loss account |
Total |
|
At 1 January 2016 |
100 |
126 |
226 |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 December 2015 |
|
- |
|
Page 6 |
CPM People Employment Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Page 7 |
CPM People Employment Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
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.
Investments |
2016 |
2015 |
|
Investments in subsidiaries |
|
|
Page 8 |
CPM People Employment Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Subsidiaries |
£ |
Cost or valuation |
|
At 1 January 2016 |
|
Provision |
|
Carrying amount |
|
At 31 December 2016 |
|
At 31 December 2015 |
|
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 |
|
2016 |
2015 |
|||
Subsidiary undertakings |
||||
|
Germany |
Ordinary Shares |
|
|
|
Hungary |
Ordinary Shares |
|
|
|
Singapore |
Ordinary Shares |
|
|
|
Hong Kong |
Ordinary Shares |
|
|
The principal activity of CPM People Deutschland UG is |
The principal activity of CPM People Hungary Kft is |
The principal activity of CPM People Singapore PTE Ltd is |
The principal activity of CPM People (Hong Kong) Ltd is |
Debtors |
2016 |
2015 |
|
Other debtors |
|
- |
|
- |
Page 9 |
CPM People Employment Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Creditors |
Creditors: amounts falling due within one year
2016 |
2015 |
|
Due within one year |
||
Trade creditors |
|
- |
Other creditors |
|
|
|
|
Other creditors include amounts due to group undertakings of £4,264 (2015 - £26,883).
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
|||
No. |
£ |
No. |
£ |
|
Ordinary Shares of £1 each |
100 |
100 |
100 |
100 |
Page 10 |
CPM People Employment Group Ltd
Detailed Profit and Loss Account for the Year Ended 31 December 2016
2016 |
2015 |
|
Turnover (analysed below) |
2,100,144 |
2,710,641 |
Cost of sales (analysed below) |
(2,110,085) |
(2,708,983) |
Gross (loss)/profit |
(9,941) |
1,658 |
Gross profit (%) |
(0.47)% |
0.06% |
Administrative expenses |
||
General administrative expenses (analysed below) |
(859) |
(1,392) |
Finance charges (analysed below) |
(611) |
- |
(1,470) |
(1,392) |
|
Operating (loss)/profit |
(11,411) |
266 |
Interest payable and similar charges (analysed below) |
11,411 |
(392) |
Loss before tax |
- |
(126) |
Page 11 |
CPM People Employment Group Ltd
Detailed Profit and Loss Account for the Year Ended 31 December 2016
2016 |
2015 |
Turnover |
||
Sales, UK |
2,100,144 |
2,710,641 |
Cost of sales |
||
Direct costs |
2,110,085 |
2,708,983 |
General administrative expenses |
||
Accountancy fees |
(750) |
(700) |
Legal and professional fees |
(109) |
(692) |
(859) |
(1,392) |
Finance charges |
||
Bank charges |
(611) |
- |
Interest payable and similar expenses |
||
Foreign currency (gains)/losses |
(11,411) |
392 |
Page 12 |