REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Cavey Dale Group Limited |
T/A |
CD Sales Recruitment |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Cavey Dale Group Limited |
T/A |
CD Sales Recruitment |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
Cavey Dale Group Limited |
T/A CD Sales Recruitment |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Gemini Court |
42a Throwley Way |
Sutton |
Surrey |
SM1 4AF |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Report of the Directors |
for the Year Ended 31 March 2024 |
The directors present their report with the financial statements of the company for the year ended 31 March 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Income Statement |
for the Year Ended 31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
REVENUE |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
702,878 | 1,463,841 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Statement of Changes in Equity |
for the Year Ended 31 March 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 April 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2024 |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Cavey Dale Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. |
Property, plant and equipment |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2023 |
Exchange differences | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The company owns 100% shares in Cavey Dale Group Inc, incorporated in the U.S. |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £0.00 | 1 | 4,000 | 4,000 |
Ordinary B | £1 | - | - |
Ordinary C | £1 | - | - |
4,000 | 4,000 |
11. | OTHER FINANCIAL COMMITMENTS |
The company has lease payments due under finance leases within one year of £121,910 (2023: £256,651) and within two to five years of £Nil (2023: £121,910). |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date, an amount of £2,070,269 (2023: £1,246,752) was owed by the parent company Meddpicc Ltd, incorporated in England and Wales. During the year management fees of totalling £80,000 (2023: £80,000) were paid to the parent company Meddpicc Ltd. |
At the year end date, included in trade debtors, an amount of £476,811 (2023: £541,963) was receivable from Cavey Dale Group Inc, which is 100% owned subsidiary incorporated in the U.S. During the year, revenue of £193,828 (2023: £570,602) was generated from Cavey Dale Group Inc, incorporated in the U.S. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate control party is the parent company Meddpicc Ltd who owns 100% of shares of the company. |
Cavey Dale Group Limited (Registered number: 02565354) |
T/A CD Sales Recruitment |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
14. | CHARGES |
The company has entered into three charges with Santander UK PLC on 5th November 2021 by legal charges over all freehold and leasehold property owned by the company at the charge creation date and all future freehold and leasehold property of the company. |