REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
CORDIC GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
CORDIC GROUP LIMITED |
CORDIC GROUP LIMITED (REGISTERED NUMBER: 11615134) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Balance Sheet | 1 |
CORDIC GROUP LIMITED (REGISTERED NUMBER: 11615134) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
£ | £ |
CURRENT ASSETS |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES | ( |
) |
NOTES TO THE FINANCIAL STATEMENTS |
1. | STATUTORY INFORMATION |
Cordic Group Limited is a |
Registered number: |
Registered office: |
CORDIC GROUP LIMITED (REGISTERED NUMBER: 11615134) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
NOTES TO THE FINANCIAL STATEMENTS |
2. | OTHER INFORMATION |
SECURED DEBTS |
Loan notes are secured by way of fixed and floating charges created on 24th January 2022 over all the property or undertakings of the Company. |
MATERIAL UNCERTAINTY |
As previously reported on 27th January 2023 the court awarded the Company £3,500,000, plus costs of £1,821,155 plus accruing interest which at that date of the order stood at £325,519. The judgement sum was not paid by the required dates and the Company has been involved in a number of legal actions to enforce the order settlement terms. |
On 17th May 2024 assets with a value of £2,608,823 (net of transfer costs) were recovered. The company continues to pursue the defendants for settlement of the remaining balance of the debts due. There remains uncertainty regarding the final recoverable balances. No provisions are believed necessary at the date of signing of these statements. |
RELATED PARTY |
Included in Creditors is £65,134 due to a related party (2022 £60,000) |
3. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was NIL (2022 - NIL). |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |