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Company registration number: 13150212







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


CADAC GROUP LIMITED






































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CADAC GROUP LIMITED
REGISTERED NUMBER:13150212



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
163,580
145,059

  
163,580
145,059

Creditors: amounts falling due within one year
 5 
(87,610)
(96,066)

Net current assets
  
 
 
75,970
 
 
48,993

Total assets less current liabilities
  
75,970
48,993

  

Net assets
  
75,970
48,993


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
75,870
48,893

  
75,970
48,993


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J J M Baggen
Director

Date: 30 July 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 


CADAC GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Cadac Group Limited is a private Company limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the registered office and principal place of business is given on the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. 
Post year-end, there has been a modification to the agreement with the Group's key software manufacturer, for whom the Group distributes such software. Such modification has led to the direct relationship between the manufacturer and customer, with revenue likely being generated in an agent capacity through the Group. As a result, it is currently uncertain whether the UK customers will continue to be served via Cadac Group Limited. Therefore, it is not yet clear whether the entity should be maintained in the UK.
As a result, the Director has concluded that there is uncertainty that may cast significant doubt on the ability to continue as a going concern. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 


CADAC GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it 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. 

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The Company has no employees other than the director, who did not receive any remuneration (2022 - £NIL).


4.


Debtors

2023
2022
£
£


Trade debtors
21,666
89,710

Amounts owed by group undertakings
133,444
22,950

Other debtors
-
31,609

Prepayments and accrued income
8,470
790

163,580
145,059


Page 3

 


CADAC GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,278
8,933

Amounts owed to group undertakings
39,486
70,995

Corporation tax
6,288
4,825

Other taxation and social security
7,591
288

Accruals and deferred income
22,967
11,025

87,610
96,066



6.


Parent company

The parent of the smallest group for which consolidated financial statements are drawn up is Cadac Group Holding B.V., copies of which may be obtained from Nieuw-Eyckholt 282 6419 DJ, Heerlen, Limburg, Netherlands.


7.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 30 July 2024 by Tom Woods FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 4