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REGISTERED NUMBER: 01673242 (England and Wales)








Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 March 2023

for

Cavendish (Northern) Limited

Cavendish (Northern) Limited (Registered number: 01673242)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


Cavendish (Northern) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: I Brown





SECRETARY: Mrs V Brown





REGISTERED OFFICE: Beaumont House
Macklin Avenue
Cowpen Lane Industrial Estate
Billingham
Cleveland
TS23 4HF





REGISTERED NUMBER: 01673242 (England and Wales)





AUDITORS: Inspire Compliance Limited
Chartered Accountants
Registered Auditors
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Cavendish (Northern) Limited (Registered number: 01673242)

Strategic Report
for the Year Ended 31 March 2023

The director presents his strategic report for the year ended 31 March 2023.

REVIEW OF BUSINESS
During the year the company's turnover was £18,741,006 (2022:£23,009,095) and although the company turnover decreased it achieved an increase in its gross margin to 22% (2022:16.5%). The profit for the year before taxation amounted to £2,175,782 (2022:£1,440,163).The net profit for the year ended 31 March 2023 includes exceptional income of £Nil (2022:£341,983).

PRINCIPAL RISKS AND UNCERTAINTIES
There are a number of risks and uncertainties which could affect the company's long term performance. The principle risks are:

1) That the company fails to deliver continued sales growth whilst still maintaining a lead over its competitors.

2) Liquidity, the company seeks to manage and minimise financial risk by ensuring that sufficient liquidity is available at all times to meet foreseeable needs.

DEVELOPMENT AND PERFORMANCE
The company remains focused on delivering a consistently high level of service to existing key clients whilst continuing to secure further major projects from Blue Chip organisations.

FINANCIAL KEY PERFORMANCE INDICATORS
Turnover, gross profit and operational costs are the principal financial indicators used by the management to assess the company's performance.

ON BEHALF OF THE BOARD:





I Brown - Director


15 March 2024

Cavendish (Northern) Limited (Registered number: 01673242)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

DIVIDENDS
An interim dividend of £60.00 per share was paid on 6 April 2022. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2023 will be £ 600,000 .

DIRECTOR
I Brown held office during the whole of the period from 1 April 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Cavendish (Northern) Limited (Registered number: 01673242)

Report of the Director
for the Year Ended 31 March 2023


AUDITORS
The auditors, Inspire Compliance Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





I Brown - Director


15 March 2024

Report of the Independent Auditors to the Members of
Cavendish (Northern) Limited

Opinion
We have audited the financial statements of Cavendish (Northern) Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Cavendish (Northern) Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Cavendish (Northern) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and its industry, we identified that the principal risks of non compliance with laws and regulations related to compliance with UK tax regulations as well as compliance with the Companies Act 2006, and we considered the extent to which non compliance might have a material effect on the financial statements. We evaluated management's incentives and opportunities for fraudulent misrepresentation of the financial statements (including risk of override of controls) and determined that the principal risks were relating to posting inappropriate journals to manipulate financial results along with potential fraud as a result of fictitious employees. Audit procedures performed by the audit team included:

a) Identifying and testing journal entries.

b) Discussions with management, including consideration of known or suspected instances of non compliance with laws and regulations and fraud.

c) Reviewing and testing payroll procedures and controls.

d) Reviewing financial statement disclosures and testing these to supporting documentation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Cavendish (Northern) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mike McKenna (Senior Statutory Auditor)
for and on behalf of Inspire Compliance Limited
Chartered Accountants
Registered Auditors
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

15 March 2024

Cavendish (Northern) Limited (Registered number: 01673242)

Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 3 18,741,006 23,009,095

Cost of sales 14,619,481 19,216,898
GROSS PROFIT 4,121,525 3,792,197

Administrative expenses 1,988,604 2,754,956
2,132,921 1,037,241

Other operating income - 370,998
OPERATING PROFIT 5 2,132,921 1,408,239

Interest receivable and similar income 43,810 34,383
2,176,731 1,442,622

Interest payable and similar expenses 6 949 2,459
PROFIT BEFORE TAXATION 2,175,782 1,440,163

Tax on profit 7 (128,225 ) 273,537
PROFIT FOR THE FINANCIAL YEAR 2,304,007 1,166,626

Cavendish (Northern) Limited (Registered number: 01673242)

Other Comprehensive Income
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

PROFIT FOR THE YEAR 2,304,007 1,166,626


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,304,007

1,166,626

Cavendish (Northern) Limited (Registered number: 01673242)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 182,613 236,285

CURRENT ASSETS
Stocks 10 69,904 39,450
Debtors 11 9,608,914 3,672,454
Cash at bank and in hand 1,721,464 3,693,233
11,400,282 7,405,137
CREDITORS
Amounts falling due within one year 12 5,527,279 3,297,907
NET CURRENT ASSETS 5,873,003 4,107,230
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,055,616

4,343,515

CREDITORS
Amounts falling due after more than one
year

13

(22,500

)

(35,000

)

PROVISIONS FOR LIABILITIES 15 (38,344 ) (17,750 )
NET ASSETS 5,994,772 4,290,765

CAPITAL AND RESERVES
Called up share capital 16 10,000 10,000
Retained earnings 17 5,984,772 4,280,765
SHAREHOLDERS' FUNDS 5,994,772 4,290,765

The financial statements were approved by the director and authorised for issue on 15 March 2024 and were signed by:





I Brown - Director


Cavendish (Northern) Limited (Registered number: 01673242)

Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 10,000 3,314,139 3,324,139

Changes in equity
Dividends - (200,000 ) (200,000 )
Total comprehensive income - 1,166,626 1,166,626
Balance at 31 March 2022 10,000 4,280,765 4,290,765

Changes in equity
Dividends - (600,000 ) (600,000 )
Total comprehensive income - 2,304,007 2,304,007
Balance at 31 March 2023 10,000 5,984,772 5,994,772

Cavendish (Northern) Limited (Registered number: 01673242)

Cash Flow Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,205,425 ) 1,105,464
Interest paid (949 ) (2,459 )
Tax paid 134,810 (357,739 )
Net cash from operating activities (1,071,564 ) 745,266

Cash flows from investing activities
Purchase of tangible fixed assets (36,121 ) (33,951 )
Sale of tangible fixed assets 30,592 -
Interest received 43,810 34,383
Net cash from investing activities 38,281 432

Cash flows from financing activities
Loan repayments in year (10,000 ) (7,500 )
Amount introduced by directors 155,485 307,090
Amount withdrawn by directors (483,971 ) (186,100 )
Equity dividends paid (600,000 ) (200,000 )
Net cash from financing activities (938,486 ) (86,510 )

(Decrease)/increase in cash and cash equivalents (1,971,769 ) 659,188
Cash and cash equivalents at beginning
of year

2

3,693,233

3,034,045

Cash and cash equivalents at end of
year

2

1,721,464

3,693,233

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.3.23 31.3.22
£    £   
Profit before taxation 2,175,782 1,440,163
Depreciation charges 59,201 131,951
Loss on disposal of fixed assets - 2,173
Finance costs 949 2,459
Finance income (43,810 ) (34,383 )
2,192,122 1,542,363
Increase in stocks (30,454 ) (13,344 )
(Increase)/decrease in trade and other debtors (5,607,974 ) 470,525
Increase/(decrease) in trade and other creditors 2,240,881 (894,080 )
Cash generated from operations (1,205,425 ) 1,105,464

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,721,464 3,693,233
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 3,693,233 3,034,045


Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank and in hand 3,693,233 (1,971,769 ) 1,721,464
3,693,233 (1,971,769 ) 1,721,464
Debt
Debts falling due within 1 year (7,500 ) (2,500 ) (10,000 )
Debts falling due after 1 year (35,000 ) 12,500 (22,500 )
(42,500 ) 10,000 (32,500 )
Total 3,650,733 (1,961,769 ) 1,688,964

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Cavendish (Northern) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparations of the financial statements require management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and by their nature, will rarely equal the actual outcome. The key assumptions and sources of estimation uncertainty that has a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year is a follows:

Asset useful lives
Assigned lives of individual assets are reviewed by management to determine appropriate depreciation policy, allocating the cost of the asset less any residual value over the estimated useful life.

Long Term Contracts
The director accounts for long term contract using the stage of completion method as the contract progresses. The method requires judgement to accurately estimate the extent of progress towards contract completion and may involve estimates of the total contract costs to completion, total revenues, contract risk and other judgements.

Accruals
Expenses are accrued when the value and nature of the liability can be reasonably determined.

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are met:

1) The amount of revenue can be measured reliably;
2) It is probably that the Company will receive the consideration due under the contract;
3) The stage of completion of the contract at the end of the reported period can be measured reliably;
4) The costs incurred and the costs to complete the contract can be measured reliably.

Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year-end by recording turnover and related costs as contract activity advances. Provisions are made to ensure the level of profit recognised is in line with the final expectations of that contract. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to the total expected costs of that contract. Revenue derived from variations on contracts is recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

If the recoverable amount of the asset is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the profit and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors and loans from banks. Accordingly, all financial instruments have been accounted for in line with Section 11 of FRS102.


Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

When some or all of the economic benefit required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that the reimbursement will be received and the amount of the receivable can be measured reliably.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. EMPLOYEES AND DIRECTORS
31.3.23 31.3.22
£    £   
Wages and salaries 8,736,934 16,570,048
Other pension costs 175,025 417,878
8,911,959 16,987,926

The average number of employees during the year was as follows:
31.3.23 31.3.22

Office and management 15 15
Manufacturing and production 137 265
152 280

31.3.23 31.3.22
£    £   
Director's remuneration 68,288 255,523
Director's pension contributions to money purchase schemes 1,321 1,347

5. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Other operating leases 96,574 115,124
Depreciation - owned assets 59,201 131,951
Loss on disposal of fixed assets - 2,173
Auditors' remuneration 15,500 13,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.23 31.3.22
£    £   
Bank loan interest 949 2,459

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
31.3.23 31.3.22
£    £   
Current tax:
UK corporation tax 266,356 284,092
Prior year under/(over) provision of tax (415,175 ) -
Total current tax (148,819 ) 284,092

Deferred tax 20,594 (10,555 )
Tax on profit (128,225 ) 273,537

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.23 31.3.22
£    £   
Profit before tax 2,175,782 1,440,163
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

413,399

273,631

Effects of:
Expenses not deductible for tax purposes (19,000 ) 10,661
Capital allowances in excess of depreciation - (10,755 )
Depreciation in excess of capital allowances 27,375 -
Research and development enhanced tax relief (134,824 ) -
Prior years over provision of tax (415,175 ) -
Total tax (credit)/charge (128,225 ) 273,537

8. DIVIDENDS
31.3.23 31.3.22
£    £   
Ordinary shares of £1 each
Interim 600,000 200,000

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 916,739 81,253 997,992
Additions 15,189 20,932 36,121
Disposals (210,000 ) - (210,000 )
At 31 March 2023 721,928 102,185 824,113
DEPRECIATION
At 1 April 2022 708,367 53,340 761,707
Charge for year 51,548 7,653 59,201
Eliminated on disposal (179,408 ) - (179,408 )
At 31 March 2023 580,507 60,993 641,500
NET BOOK VALUE
At 31 March 2023 141,421 41,192 182,613
At 31 March 2022 208,372 27,913 236,285

10. STOCKS
31.3.23 31.3.22
£    £   
Stocks 69,904 39,450

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 3,007,529 781,701
Amounts due on contracts 3,633,169 1,221,830
Other debtors 2,461,978 1,478,921
Directors' current accounts 483,971 155,485
Prepayments and accrued income 22,267 34,517
9,608,914 3,672,454

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 14) 10,000 7,500
Trade creditors 2,355,119 641,101
Tax 266,356 280,365
Social security and other taxes 590,788 760,777
Other creditors 368,677 341,983
Accruals and deferred income 1,936,339 1,266,181
5,527,279 3,297,907

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 14) 22,500 35,000

14. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 7,500

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 7,500

Amounts falling due between two and five years:
Bank loans - 2-5 years 12,500 27,500

15. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 38,344 17,750

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 17,750
Charge to Income Statement during year 20,594
Balance at 31 March 2023 38,344

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
10,000 Ordinary £1 10,000 10,000

17. RESERVES
Retained
earnings
£   

At 1 April 2022 4,280,765
Profit for the year 2,304,007
Dividends (600,000 )
At 31 March 2023 5,984,772

18. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
I Brown
Balance outstanding at start of year 155,485 276,475
Amounts advanced 483,971 186,100
Amounts repaid (155,485 ) (307,090 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 483,971 155,485

During the year the director had an interest bearing loan with the company. Interest charged on the loan amounted to £10,294 (2022: £5,212). There are no formal repayment terms on the loan.

Cavendish (Northern) Limited (Registered number: 01673242)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

19. RELATED PARTY DISCLOSURES

During the year there was a loan made to a related party entity under common control. The loan has no fixed repayment terms and interest is charged at 2.5% on the amount outstanding. At the 31 March 2023 the value of the loan was £2,197,211 (2022: £1,023,817).

During the year the company paid this entity rent of £172,600 (2022:£172,600) and leased plant and machinery to the value of £327,451 (2022:£343,625).

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Brown.