7 31/12/2023 2023-12-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04889977 2023-01-01 2023-12-31 04889977 2023-12-31 04889977 2022-12-31 04889977 2022-01-01 2022-12-31 04889977 2022-12-31 04889977 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04889977 core:MotorVehicles 2023-01-01 2023-12-31 04889977 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04889977 bus:Director1 2023-01-01 2023-12-31 04889977 core:WithinOneYear 2023-12-31 04889977 core:WithinOneYear 2022-12-31 04889977 core:FurnitureFittingsToolsEquipment 2022-12-31 04889977 core:MotorVehicles 2022-12-31 04889977 core:FurnitureFittingsToolsEquipment 2023-12-31 04889977 core:MotorVehicles 2023-12-31 04889977 core:AfterOneYear 2023-12-31 04889977 core:ShareCapital 2023-12-31 04889977 core:ShareCapital 2022-12-31 04889977 core:RetainedEarningsAccumulatedLosses 2023-12-31 04889977 core:RetainedEarningsAccumulatedLosses 2022-12-31 04889977 bus:OrdinaryShareClass1 core:ShareCapital 2023-12-31 04889977 bus:OrdinaryShareClass1 core:ShareCapital 2022-12-31 04889977 core:FurnitureFittingsToolsEquipment 2022-12-31 04889977 core:MotorVehicles 2022-12-31 04889977 bus:SmallEntities 2023-01-01 2023-12-31 04889977 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04889977 bus:FullAccounts 2023-01-01 2023-12-31 04889977 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04889977 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Company registration number: 04889977
Companies House
Cadantis Associates Limited
Unaudited filleted financial statements
31 December 2023
Cadantis Associates Limited
Contents
Statement of financial position
Notes to the financial statements
Cadantis Associates Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 101,846 56,210
_______ _______
101,846 56,210
Current assets
Debtors 6 502,746 146,743
Cash at bank and in hand 3,311,099 3,363,891
_________ _________
3,813,845 3,510,634
Creditors: amounts falling due
within one year 7 ( 843,803) ( 1,054,791)
_______ _________
Net current assets 2,970,042 2,455,843
_________ _________
Total assets less current liabilities 3,071,888 2,512,053
Creditors: amounts falling due
after more than one year 8 ( 39,507) -
_________ _________
Net assets 3,032,381 2,512,053
_________ _________
Capital and reserves
Called up share capital 9 500 500
Profit and loss account 3,031,881 2,511,553
_________ _________
Shareholders funds 3,032,381 2,512,053
_________ _________
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 August 2024 , and are signed on behalf of the board by:
Mr S R Stanley
Director
Company registration number: 04889977
Cadantis Associates Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and the business address is 4 Oak Tree Park, Burnt Meadow Road, Redditch, Worcestershire, B98 9NW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 25 % reducing balance
Motor vehicles - 30 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2023 113,490 23,999 137,489
Additions 9,027 73,450 82,477
_______ _______ _______
At 31 December 2023 122,517 97,449 219,966
_______ _______ _______
Depreciation
At 1 January 2023 80,079 1,200 81,279
Charge for the year 9,802 27,039 36,841
_______ _______ _______
At 31 December 2023 89,881 28,239 118,120
_______ _______ _______
Carrying amount
At 31 December 2023 32,636 69,210 101,846
_______ _______ _______
At 31 December 2022 33,411 22,799 56,210
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 474,747 112,242
Prepayments and accrued income 27,395 9,001
Other debtors 604 25,500
_______ _______
502,746 146,743
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 185,386 237,384
Accruals and deferred income 358,709 575,927
Corporation tax 176,724 181,654
Social security and other taxes 119,686 52,121
Obligations under finance leases 2,794 -
Director loan accounts 59 168
Other creditors 445 7,537
_________ _________
843,803 1,054,791
_________ _________
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Obligations under finance leases 39,507 -
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 500 500 500 500
_______ _______ _______ _______