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REGISTERED NUMBER: 11615134 (England and Wales)













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 6,123,812 1,015,184

CREDITORS
Amounts falling due within one year (4,704,065 ) (118,263 )
NET CURRENT ASSETS 1,419,747 896,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,419,747

896,921

CREDITORS
Amounts falling due after more than one
year

-

3,785,358
NET ASSETS/(LIABILITIES) 1,419,747 (2,888,437 )

CAPITAL AND RESERVES 1,419,747 (2,888,437 )

NOTES TO THE FINANCIAL STATEMENTS

1. STATUTORY INFORMATION

Cordic Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11615134

Registered office: Suite 2
LDH House
Parsons Green
St Ives
PE27 4AA

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 company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





B Van Schriek - Director