Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-31The principal activity of the group is that of the provision of IT hardware and software solutions to business customers in the UK and Ireland.truetrue2023-01-01false00falsefalse 12370899 2023-01-01 2023-12-31 12370899 2022-01-01 2022-12-31 12370899 2023-12-31 12370899 2022-12-31 12370899 2022-01-01 12370899 c:Director1 2023-01-01 2023-12-31 12370899 c:Director2 2023-01-01 2023-12-31 12370899 c:Director3 2023-01-01 2023-12-31 12370899 c:Director4 2023-01-01 2023-12-31 12370899 c:Director4 2023-12-31 12370899 c:Director5 2023-01-01 2023-12-31 12370899 c:Director6 2023-01-01 2023-12-31 12370899 c:Director6 2023-12-31 12370899 c:RegisteredOffice 2023-01-01 2023-12-31 12370899 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 12370899 d:Buildings d:LongLeaseholdAssets 2023-12-31 12370899 d:Buildings d:LongLeaseholdAssets 2022-12-31 12370899 d:MotorVehicles 2023-01-01 2023-12-31 12370899 d:MotorVehicles 2023-12-31 12370899 d:MotorVehicles 2022-12-31 12370899 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370899 d:FurnitureFittings 2023-01-01 2023-12-31 12370899 d:FurnitureFittings 2023-12-31 12370899 d:FurnitureFittings 2022-12-31 12370899 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370899 d:OfficeEquipment 2023-01-01 2023-12-31 12370899 d:OfficeEquipment 2023-12-31 12370899 d:OfficeEquipment 2022-12-31 12370899 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370899 d:ComputerEquipment 2023-01-01 2023-12-31 12370899 d:ComputerEquipment 2023-12-31 12370899 d:ComputerEquipment 2022-12-31 12370899 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370899 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12370899 d:CurrentFinancialInstruments 2023-12-31 12370899 d:CurrentFinancialInstruments 2022-12-31 12370899 d:Non-currentFinancialInstruments 2023-12-31 12370899 d:Non-currentFinancialInstruments 2022-12-31 12370899 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12370899 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12370899 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12370899 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12370899 d:ShareCapital 2023-01-01 2023-12-31 12370899 d:ShareCapital 2023-12-31 12370899 d:ShareCapital 2022-01-01 2022-12-31 12370899 d:ShareCapital 2022-12-31 12370899 d:ShareCapital 2022-01-01 12370899 d:ForeignCurrencyTranslationReserve 2023-01-01 2023-12-31 12370899 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12370899 d:RetainedEarningsAccumulatedLosses 2023-12-31 12370899 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12370899 d:RetainedEarningsAccumulatedLosses 2022-12-31 12370899 d:RetainedEarningsAccumulatedLosses 2022-01-01 12370899 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12370899 c:OrdinaryShareClass1 2023-12-31 12370899 c:OrdinaryShareClass1 2022-12-31 12370899 c:FRS102 2023-01-01 2023-12-31 12370899 c:Audited 2023-01-01 2023-12-31 12370899 c:FullAccounts 2023-01-01 2023-12-31 12370899 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12370899 d:Subsidiary1 2023-01-01 2023-12-31 12370899 d:Subsidiary1 1 2023-01-01 2023-12-31 12370899 d:WithinOneYear 2023-12-31 12370899 d:WithinOneYear 2022-12-31 12370899 d:BetweenOneFiveYears 2023-12-31 12370899 d:BetweenOneFiveYears 2022-12-31 12370899 c:Consolidated 2023-12-31 12370899 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 12370899 6 2023-01-01 2023-12-31 12370899 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 12370899












CDI INTERNATIONAL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 

CDI INTERNATIONAL LIMITED

 CONTENTS



Page
Company information
 
1
Group strategic report
 
2
Directors' report
 
3
Directors' responsibilities statement
 
4
Independent auditor's report
 
5 - 8
Consolidated profit and loss account
 
9
Consolidated statement of comprehensive income
 
10
Consolidated balance sheet
 
11
Company balance sheet
 
12
Consolidated statement of changes in equity
 
13
Company statement of changes in equity
 
14
Consolidated statement of cash flows
 
15
Notes to the financial statements
 
16 - 31


 

CDI INTERNATIONAL LIMITED
 
COMPANY INFORMATION


Directors
A P Kemp 
M R Johnson 
R Falcone 
C Lam 
M Killian (appointed 1 March 2024)




Registered number
12370899



Registered office
882 Plymouth Road
Slough

SL1 4LP




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1

 

CDI INTERNATIONAL LIMITED
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Introduction
 
The directors present the strategic report and financial statements for the year ended 31 December 2023.
The principal activity of the group continued to be that of the provision of IT hardware and software solutions to business customers in the UK and Ireland. 
The immediate parent entity during the year was Computer Design & Integration LLC.
Following the year end, the group was acquired by AHEAD, Inc.

Business review
 
The profit and loss account on page 9 of the financial statements provides a summary of the group’s trading results for the year. 
The group’s growth in activity is in line with the directors’ expectations, reflecting the strength of the UK and Irish business and the wider group. The performance and results for the year are in line with the directors' expectations.
The group’s balance sheet at the year-end is strengthened with net current assets of £4.4m and shareholders' funds of £3m. 
The directors expect the business to continue to grow during 2024. 

Principal risks and uncertainties
 
The financial instruments used by the group arise wholly and directly from its activities. The main financial instruments comprise debtors, cash at bank, trade creditors and intra-group creditors. The financial risks arising from these financial instruments are considered low. The financial strength and profitability of the business ensures the group maintains excellent terms with preferred suppliers and their credit partners.
Cash reserves have remained healthy over the year and the group continues to trade with the support of its parent company. Working capital will continue to be monitored on a regular basis by the directors.
The key uncertainty the business faces continues to be in respect of supply chain delays causing the sales cycle to be longer than normal. The group have continued to effectively manage this during 2023, ensuring customers continue to receive excellent service.

Financial key performance indicators
 
The key performance indicators used by the group include revenue and profitability, both of which have increased significantly compared to prior year based on an increasing market presence.


This report was approved by the board and signed on its behalf.



A P Kemp
Director

Date: 25 March 2024

Page 2

 

CDI INTERNATIONAL LIMITED

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Results and dividends

The profit for the year, after taxation, amounted to £2,119,027 (2022: £661,092).

No ordinary interim dividends were paid during the year (2022: £Nil). The directors do not recommend the payment of a final dividend.

Directors

The directors who served during the year were:

A P Kemp 
M R Johnson 
R Falcone 
B Jones (resigned 1 March 2024)
C Lam
 
On 1 March 2024, M Killian was appointed as a director.

Future developments

The group is expected to continue its growth in 2024 with existing and new customers.

Matters covered in the Group Strategic Report

As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008', in the strategic report.

Disclosure of information to auditor

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the Group's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditor is aware of that information.

This report was approved by the board and signed on its behalf.
 





A P Kemp
Director

Date: 25 March 2024

Page 3

 

CDI INTERNATIONAL LIMITED
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

 

CDI INTERNATIONAL LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CDI INTERNATIONAL LIMITED
 FOR THE YEAR ENDED 31 DECEMBER 2023

Opinion


We have audited the financial statements of CDI International Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 December 2023, which comprise the consolidated profit and loss account, the consolidated statement of comprehensive income, the consolidated balance sheet, the company balance sheet, the consolidated statement of cash flows, the consolidated statement of changes in equity, the company statement of changes in equity and the notes to the financial statements, including significant accounting policiesThe 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 Group's and of the parent company's affairs as at 31 December 2023 and of the Group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 directors' 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 Group's or the parent 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 directors with respect to going concern are described in the relevant sections of this report.


Page 5

 

CDI INTERNATIONAL LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CDI INTERNATIONAL LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Other information


The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual reportOur 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. 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 course of 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.


Opinion 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 group strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the group strategic report and the directors' report 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 Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the directors' responsibilities statement set out on page 4, the directors are 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 directors determine is 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 directors are responsible for assessing the Group's and the parent 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 directors either intend to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 6

 

CDI INTERNATIONAL LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CDI INTERNATIONAL LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Auditor's 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 an auditor's report 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 Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the IT software and hardware industry;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation and data protection;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested a sample of journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HM Revenue and Customs



 
Page 7

 

CDI INTERNATIONAL LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CDI INTERNATIONAL LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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 auditor's report.


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 2006Our 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 an auditor's report 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.





Mahmood Ramji (senior statutory auditor)
  
for and on behalf of
Blick Rothenberg Audit LLP
 
Chartered Accountants
Statutory Auditor
  
16 Great Queen Street
Covent Garden
London
WC2B 5AH

25 March 2024
Page 8

 

CDI INTERNATIONAL LIMITED
 
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
27,241,029
20,000,599

Cost of sales
  
(20,535,438)
(16,728,945)

Gross profit
  
6,705,591
3,271,654

Administrative expenses
  
(4,073,391)
(2,442,108)

Other operating income
 5 
140,755
14,553

Operating profit
 6 
2,772,955
844,099

Interest payable and similar expenses
 10 
(48,717)
(35,686)

Profit before taxation
  
2,724,238
808,413

Tax on profit
 11 
(605,211)
(147,321)

Profit for the financial year
  
2,119,027
661,092

Profit for the year attributable to:
  

Owners of the parent
  
2,119,027
661,092

  
2,119,027
661,092

Page 9

 

CDI INTERNATIONAL LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£


Profit for the financial year

  

2,119,027
661,092

Other comprehensive income
  


Currency translation differences
  
(3,416)
4,467

Other comprehensive income for the year
  
(3,416)
4,467

Total comprehensive income for the year
  
2,115,611
665,559

Profit for the year attributable to:
  


Owners of the parent company
  
2,119,027
-

Page 10


 
REGISTERED NUMBER:12370899
CDI INTERNATIONAL LIMITED

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 12 
53,929
37,006

Current assets
  

Stocks
 14 
293,840
952,533

Debtors: amounts falling due after more than one year
 15 
1,626,355
-

Debtors: amounts falling due within one year
 15 
8,853,901
6,604,497

Cash at bank and in hand
 16 
2,229,330
3,825,274

  
13,003,426
11,382,304

Creditors: amounts falling due within one year
 17 
(8,624,822)
(10,547,896)

Net current assets
  
 
 
4,378,604
 
 
834,408

Total assets less current liabilities
  
4,432,533
871,414

Creditors: amounts falling due after more than one year
 18 
(1,445,508)
-

Net assets
  
2,987,025
871,414


Capital and reserves
  

Called up share capital 
 19 
100
100

Foreign exchange reserve
 20 
401
3,817

Profit and loss account
 20 
2,986,524
867,497

Equity attributable to owners of the parent company
  
2,987,025
871,414

Total equity
  
2,987,025
871,414


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




A P Kemp
Director

Date: 25 March 2024

The notes on pages 16 to 31 form part of these financial statements.

Page 11


 
REGISTERED NUMBER:12370899
CDI INTERNATIONAL LIMITED

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 12 
51,661
32,737

Investments
 13 
86
86

  
51,747
32,823

Current assets
  

Stocks
 14 
293,840
937,287

Debtors: amounts falling due after more than one year
 15 
1,626,355
-

Debtors: amounts falling due within one year
 15 
8,214,340
6,411,260

Cash at bank and in hand
 16 
1,818,897
3,644,455

  
11,953,432
10,993,002

Creditors: amounts falling due within one year
 17 
(8,023,541)
(10,264,096)

Net current assets
  
 
 
3,929,891
 
 
728,906

Total assets less current liabilities
  
3,981,638
761,729

  

Creditors: amounts falling due after more than one year
 18 
(1,445,508)
-

  

Net assets
  
2,536,130
761,729


Capital and reserves
  

Called up share capital 
 19 
100
100

Profit and loss account brought forward
  
761,629
181,255

Profit for the year
  
1,774,401
580,374

Profit and loss account carried forward
  
2,536,030
761,629

Total equity
  
2,536,130
761,729


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





A P Kemp
Director

Date: 25 March 2024

The notes on pages 16 to 31 form part of these financial statements.

Page 12

 

CDI INTERNATIONAL LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Foreign exchange reserve
Profit and loss account
Equity attributable to owners of parent company
Total equity

£
£
£
£
£


At 1 January 2022
100
(650)
206,405
205,855
205,855


Comprehensive income for the year

Profit for the financial year

-
-
661,092
661,092
661,092

Currency translation differences
-
4,467
-
4,467
4,467


Other comprehensive income for the year
-
4,467
-
4,467
4,467


Total comprehensive income for the year
-
4,467
661,092
665,559
665,559



At 1 January 2023
100
3,817
867,497
871,414
871,414


Comprehensive income for the year

Profit for the financial year

-
-
2,119,027
2,119,027
2,119,027

Currency translation differences
-
(3,416)
-
(3,416)
(3,416)


Other comprehensive income for the year
-
(3,416)
-
(3,416)
(3,416)


Total comprehensive income for the year
-
(3,416)
2,119,027
2,115,611
2,115,611


At 31 December 2023
100
401
2,986,524
2,987,025
2,987,025


The notes on pages 16 to 31 form part of these financial statements.

Page 13

 

CDI INTERNATIONAL LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
181,255
181,355


Comprehensive income for the year

Profit for the financial year
-
580,374
580,374
Total comprehensive income for the year
-
580,374
580,374



At 1 January 2023
100
761,629
761,729


Comprehensive income for the year

Profit for the financial year
-
1,774,401
1,774,401
Total comprehensive income for the year
-
1,774,401
1,774,401


At 31 December 2023
100
2,536,030
2,536,130


The notes on pages 16 to 31 form part of these financial statements.

Page 14

 

CDI INTERNATIONAL LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
2,119,027
661,092

Adjustments for:

Depreciation of tangible assets
25,684
13,805

Loss on disposal of tangible assets
3,373
-

Interest paid
48,717
35,686

Taxation charge
605,211
147,321

Decrease/(increase) in stocks
658,693
(268,334)

Increase in debtors
(3,875,758)
(103,920)

(Decrease)/increase in creditors
(922,548)
2,112,657

Net increase in amounts owed to parent undertaking
896,180
566,495

Corporation tax paid
(755,779)
(45,724)

Unrealised currency translation (gains)/losses
(3,416)
4,467

Net cash generated from operating activities

(1,200,616)
3,123,545


Cash flows from investing activities

Purchase of tangible fixed assets
(45,980)
(19,441)

Net cash from investing activities

(45,980)
(19,441)

Cash flows from financing activities

Increase in loans from parent undertaking
-
451,030

Loans from group companies repaid
(300,631)
-

Interest paid
(48,717)
(35,686)

Net cash used in financing activities
(349,348)
415,344

Net (decrease)/increase in cash and cash equivalents
(1,595,944)
3,519,448

Cash and cash equivalents at beginning of year
3,825,274
305,826

Cash and cash equivalents at the end of year
2,229,330
3,825,274


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,229,330
3,825,274

2,229,330
3,825,274


Page 15

 

CDI INTERNATIONAL LIMITED

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

1.


General information

CDI International Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 882 Plymouth Road, Slough, England, SL1 4LP. 
The group consists of CDI International Limited and all of its subsidiaries.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own profit and loss account in these financial statements.

CDI International Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken the advantage of the following disclosure exemptions available to it in respect of its separate financial statements:

Section 3 'Financial Statement Presentation' - Inclusion of statement cash flows;
Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;
Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income; and
Section 33 'Related Party Disclosures' - Compensation for key management personnel.
 
The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
All financial statements are made up to 31 December 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

Page 16

 

CDI INTERNATIONAL LIMITED

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

2.Accounting policies (continued)

 
2.3

Going concern

The group is reliant on working capital support from its parent company, which has confirmed that this support will continue. Therefore, after making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.4

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.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group 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 Group 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.

 
2.6

Operating leases: the Group as lessee

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

Page 17

 

CDI INTERNATIONAL LIMITED

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

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.9

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 18

 

CDI INTERNATIONAL LIMITED

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

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using various methods detailed below..

Depreciation is provided on the following basis:

Leasehold improvements
-
The term of the lease
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
3 years straight line
Office equipment
-
3 years straight line
Computer equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 19

 

CDI INTERNATIONAL LIMITED

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

2.Accounting policies (continued)


2.13

Financial instruments

The Group has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Group becomes party to the contractual provisions of the instrument. 

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 Group after deducting all of its liabilities. 
 
The Group’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and intercompany working capital balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, and loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 20

 

CDI INTERNATIONAL LIMITED

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

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Group would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 21

 

CDI INTERNATIONAL LIMITED

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

2.Accounting policies (continued)

  
2.15

Share capital

Ordinary shares are classified as equity.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Sale of IT hardware and software
27,241,029
20,000,599


Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
24,616,413
18,857,742

Rest of Europe
2,624,616
1,142,857

27,241,029
20,000,599



5.


Other operating income

2023
2022
£
£

Group recharge of costs
140,755
14,553


Page 22

 

CDI INTERNATIONAL LIMITED

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

6.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of own tangible fixed assets
25,684
13,807

Exchange differences
11,646
(2,339)

Other operating lease rentals
59,173
25,303

Loss on disposal of fixed assets
3,373
-


7.


Auditor's remuneration

During the year, the Group obtained the following services from the company's auditor:


2023
2022
£
£


Fees payable to the company's auditor for the audit of the consolidated and parent company's financial statements
19,000
17,000

Non-audit fees payable to the parent company's auditor
13,688
16,000


8.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
998,472
778,794
998,472
778,794

Social security costs
119,170
93,732
119,170
93,732

Cost of defined contribution scheme
51,242
43,346
51,242
43,346

1,168,884
915,872
1,168,884
915,872


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Management
2
2



Admin
13
10

15
12

Page 23

 

CDI INTERNATIONAL LIMITED

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

9.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
256,634
261,296

Company contributions to defined contribution pension schemes
18,750
18,750

275,384
280,046


During the year retirement benefits were accruing to 2 directors (2022: 2) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £165,006 (2022: £171,437).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £15,000 (2022: £15,000).

Total remuneration in respect of key management personnel was £534,940 (2022: £557,115).


10.


Interest payable and similar expenses

2023
2022
£
£


Interest payable to parent undertaking
48,717
35,686


11.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
605,211
147,321


Total current tax
605,211
147,321

Page 24

 

CDI INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - higher than) the standard rate of corporation tax in the UK of 23.5% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
2,724,238
808,413


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.5% (2022 - 19%)
640,196
153,598

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
9,882
719

Capital allowances for year in excess of depreciation
(4,557)
(1,234)

Provisions tax adjustment
622
257

Difference between UK & overseas tax rates
(40,932)
(6,019)

Total tax charge for the year
605,211
147,321





Page 25

 

CDI INTERNATIONAL LIMITED
 
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


12.


Tangible fixed assets


Group







Leasehold improvements
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost


At 1 January 2023
5,415
28,240
6,114
1,753
14,209
55,731


Additions
35,173
-
7,442
650
2,715
45,980


Disposals
(5,415)
-
-
(1,104)
-
(6,519)



At 31 December 2023

35,173
28,240
13,556
1,299
16,924
95,192



Depreciation


At 1 January 2023
2,200
10,423
1,845
791
3,466
18,725


Charge for the year
11,071
4,500
4,275
455
5,383
25,684


Disposals
(2,369)
-
-
(777)
-
(3,146)



At 31 December 2023

10,902
14,923
6,120
469
8,849
41,263



Net book value



At 31 December 2023
24,271
13,317
7,436
830
8,075
53,929



At 31 December 2022
3,215
17,817
4,269
962
10,743
37,006

Page 26

 

CDI INTERNATIONAL LIMITED
 
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           12.Tangible fixed assets (continued)



Company







Leasehold improvements
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£

Cost


At 1 January 2023
5,415
28,240
-
1,753
14,209
49,617


Additions
35,173
-
7,442
650
2,715
45,980


Disposals
(5,415)
-
-
(1,104)
-
(6,519)



At 31 December 2023

35,173
28,240
7,442
1,299
16,924
89,078



Depreciation


At 1 January 2023
2,200
10,423
-
791
3,466
16,880


Charge for the year
11,071
4,500
2,274
455
5,383
23,683


Disposals
(2,369)
-
-
(777)
-
(3,146)



At 31 December 2023

10,902
14,923
2,274
469
8,849
37,417



Net book value



At 31 December 2023
24,271
13,317
5,168
830
8,075
51,661



At 31 December 2022
3,215
17,817
-
962
10,743
32,737



Page 27

 

CDI INTERNATIONAL LIMITED

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

13.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost


At 1 January 2023
86



At 31 December 2023
86





Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Principal activity

Class of shares

Holding

CDI International IT Limited
Dublin Road, Ashbourne Meath, Ireland
Sale of computers, peripheral units and software to other businesses
Ordinary
100%


14.


Stocks

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Finished goods and goods for resale
293,840
952,533
293,840
937,287


There is no significant difference between the replacement cost of the stock and its carrying amount.

Page 28

 

CDI INTERNATIONAL LIMITED

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

15.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due after more than one year

Other debtors
10,787
-
10,787
-

Accrued income
1,615,568
-
1,615,568
-

1,626,355
-
1,626,355
-


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due within one year

Trade debtors
6,978,527
5,731,206
6,409,600
5,573,878

Other debtors
903,146
327,499
832,512
292,478

Prepayments and accrued income
972,228
545,792
972,228
544,904

8,853,901
6,604,497
8,214,340
6,411,260



16.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
2,229,330
3,825,274
1,818,897
3,644,455



17.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Trade creditors
6,137,705
7,127,110
5,661,333
6,923,973

Amounts owed to parent undertaking
896,180
959,754
896,180
959,754

Corporation tax
39,859
143,910
-
135,818

Other taxation and social security
31,151
30,145
31,151
30,145

Accruals and deferred income
1,519,927
2,286,977
1,434,877
2,214,406

8,624,822
10,547,896
8,023,541
10,264,096


The amounts owed to the parent undertaking are unsecured and repayable on demand.

Page 29

 

CDI INTERNATIONAL LIMITED

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

18.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Accruals
1,445,508
-
1,445,508
-





19.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £0.10 each
100
100

The holders of ordinary shares are entitiled to received dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.



20.


Reserves

Foreign exchange reserve

The foreign exchange reserve is a non-distributable reserve arising on the translation of foreign subsidiaries balances during consolidation.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

21.


Analysis of net debt




At 1 January 2023
Cash flows
At 31 December 2023
£

£

£

Cash at bank and in hand

3,825,274

(1,595,944)

2,229,330


3,825,274
(1,595,944)
2,229,330

Page 30

 

CDI INTERNATIONAL LIMITED

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

22.


Commitments under operating leases

At 31 December 2023 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Not later than 1 year
42,907
17,979
42,907
17,979

Later than 1 year and not later than 5 years
82,287
15,861
82,287
15,861

125,194
33,840
125,194
33,840


23.


Related party transactions

The company has taken advantage of the exemption available in FRS102 Section 33.1A "Related party disclosures" whereby it has not disclosed transactions with any wholly owned subsidiary undertaking.


24.


Controlling party

At the year end, the company was under the control of its immediate parent company, Computer Design & Integration LLC, by virtue of its ownership of 100% of the issued share capital. Computer Design & Integration LLC is a company incorporated in the United Stated of America. The address of its registered office is 696 US Highway 46, West Teterboro, NJ 07608, United States of America.
The largest and smallest group in which the results of the company are consolidated is that headed by its ultimate parent company CDI AcquisitionCo Inc, a company incorporated in the United States of America. The address of its registered office is 696 US Highway 46, West Teterboro, NJ 07608, United States of America.

Following the year end, the immediate parent company, Computer Design & Integration LLC, and subsequent group, was acquired and therefore as at the date the accounts were signed the largest and smallest group in which the results of the company will be consolidated from the date of acquisition is that headed by its ultimate parent company AHEAD, Inc., a company incorporated in the United States of America. The address of its registered office is 444 W. Lake Street Suite 3000, Chicago, Illinois, United States of America, 60606.

 
Page 31