Company registration number 11468609 (England and Wales)
CADDO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
CADDO LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
CADDO LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
60,000
70,000
Tangible assets
4
95,984
96,053
Investments
5
1
1
155,985
166,054
Current assets
Debtors
6
878,263
133,940
Cash at bank and in hand
596,173
315,942
1,474,436
449,882
Creditors: amounts falling due within one year
7
(1,517,131)
(455,264)
Net current liabilities
(42,695)
(5,382)
Total assets less current liabilities
113,290
160,672
Creditors: amounts falling due after more than one year
8
(18,333)
(73,709)
Provisions for liabilities
(18,250)
(18,250)
Net assets
76,707
68,713
Capital and reserves
Called up share capital
116
116
Share premium account
599,984
599,984
Profit and loss reserves
(523,393)
(531,387)
Total equity
76,707
68,713

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CADDO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 April 2024
Mr M N Hanke
Director
Company registration number 11468609 (England and Wales)
CADDO LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 August 2021
116
599,984
(518,055)
82,045
Year ended 31 July 2022:
Loss and total comprehensive income
-
-
(13,332)
(13,332)
Balance at 31 July 2022
116
599,984
(531,387)
68,713
Year ended 31 July 2023:
Profit and total comprehensive income
-
-
7,994
7,994
Balance at 31 July 2023
116
599,984
(523,393)
76,707
CADDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
1
Accounting policies
Company information

CadDo Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

 

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intellectual property
over the estimated useful life of ten years
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% on cost
Computers
50% on cost
Motor vehicles
20% on (cost - residual value)
CADDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

CADDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 6 -
1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

 

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the relevant lease.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
13
8
CADDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
3
Intangible fixed assets
Intellectual property
£
Cost
At 1 August 2022 and 31 July 2023
100,000
Amortisation and impairment
At 1 August 2022
30,000
Amortisation charged for the year
10,000
At 31 July 2023
40,000
Carrying amount
At 31 July 2023
60,000
At 31 July 2022
70,000
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
9,448
19,389
112,036
140,873
Additions
342
26,261
-
0
26,603
At 31 July 2023
9,790
45,650
112,036
167,476
Depreciation and impairment
At 1 August 2022
6,815
10,857
27,148
44,820
Depreciation charged in the year
2,662
11,603
12,407
26,672
At 31 July 2023
9,477
22,460
39,555
71,492
Carrying amount
At 31 July 2023
313
23,190
72,481
95,984
At 31 July 2022
2,633
8,532
84,888
96,053
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1
1
CADDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 8 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
756,941
22,755
Amounts owed by group undertakings
4,153
3,382
Other debtors
43,612
24,495
Prepayments and accrued income
73,557
83,308
878,263
133,940
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Obligations under finance leases
-
0
17,220
Trade creditors
177,345
64,364
Corporation tax
9,945
-
0
Other taxation and social security
216,885
40,359
Other creditors
7,388
4,263
Accruals and deferred income
1,095,568
319,058
1,517,131
455,264
8
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
18,333
28,333
Obligations under finance leases
-
0
45,376
18,333
73,709
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan account
2.00
-
23,103
23,103
-
23,103
23,103
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