Company registration number 07299856 (England and Wales)
CADBOLL HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CADBOLL HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
8
236,474
202,528
Investments
9
5,141
5,141
241,615
207,669
Current assets
Debtors
11
1,895,080
2,339,839
Cash at bank and in hand
1,113,212
1,674,071
3,008,292
4,013,910
Creditors: amounts falling due within one year
12
(1,446,832)
(2,027,536)
Net current assets
1,561,460
1,986,374
Total assets less current liabilities
1,803,075
2,194,043
Creditors: amounts falling due after more than one year
13
(691,972)
(856,646)
Provisions for liabilities
(7,226)
(7,144)
Net assets
1,103,877
1,330,253
Capital and reserves
Called up share capital
17
200
500
Other reserves
55,068
61,354
Profit and loss reserves
816,534
1,007,611
Equity attributable to owners of the parent company
871,802
1,069,465
Non-controlling interests
232,075
260,788
1,103,877
1,330,253

The directors of the group have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 December 2023 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities under the Companies Act 2006:

 

CADBOLL HOLDINGS LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -

These financial statements have been prepared in accordance with the provisions applicable to groups and companies subject to the small companies regime for accounts.

The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
23 September 2024
H Macleod
Director
CADBOLL HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
8
2,804
2,804
Investments
9
106,352
106,352
109,156
109,156
Current assets
Debtors
11
415,485
584,366
Cash at bank and in hand
11,645
95,417
427,130
679,783
Creditors: amounts falling due within one year
12
(284,794)
(334,596)
Net current assets
142,336
345,187
Total assets less current liabilities
251,492
454,343
Creditors: amounts falling due after more than one year
13
(264,815)
(409,259)
Net (liabilities)/assets
(13,323)
45,084
Capital and reserves
Called up share capital
17
200
200
Profit and loss reserves
(13,523)
44,884
Total equity
(13,323)
45,084

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £97,783 (2022 - £216,434 profit).

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

CADBOLL HOLDINGS LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
23 September 2024
H Macleod
Director
Company registration number 07299856 (England and Wales)
CADBOLL HOLDINGS LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 5 -
1
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, 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.

2
Accounting policies
Company information

Cadboll Holdings Limited and its subsidiaries (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ.

 

The group consists of Cadboll Holdings Limited and its subsidiaries.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Basis of consolidation

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 6 -

The consolidated financial statements incorporate those of Cadboll Holdings Limited and its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

 

All financial statements are made up to 31 December 2022. 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.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

2.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.4
Turnover
Turnover is in respect of the provision of services including fees, commissions and rechargeable expenses. Where recorded turnover exceeds amounts invoiced to clients, the excess is classified as accrued income. Income is taken on fee in the period to which it relates. Project income is recognised in the period in which the project is worked on.

Income is recognised on the following bases:

Unbilled costs relating to contracts for services are included at rechargeable value in accrued income.

Unbilled costs relating to contracts for products are carried forward at the lower of cost and net realisable value with no profit recognition.
2.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over term of the lease
Plant and machinery
Over 3 - 5 years
Fixtures, fittings & equipment
Over 3 - 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 7 -
2.6
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

2.7
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 8 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.9
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

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

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 9 -
Classification of financial liabilities

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.

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

2.10
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

2.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 10 -
2.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.13
Retirement benefits
The Group operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
76
72
-
-
CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3
Employees
(Continued)
- 11 -

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
3,699,276
3,446,278
-
0
-
0
Social security costs
572,963
515,084
-
-
Pension costs
98,027
70,590
-
0
-
0
4,370,266
4,031,952
-
0
-
0
4
Directors' remuneration

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

5
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
4,446
1,150
6
Dividends
2023
2022
Recognised as distributions to equity holders:
£
£
Interim paid
156,190
175,199
7
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
5,246
121,983
UK income tax
2,708
580
Other taxes
3,523
-
0
Total UK current tax
11,477
122,563
Adjustments in foreign tax in respect of prior periods
-
0
(21,332)
Total current tax
11,477
101,231
CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7
Taxation
(Continued)
- 12 -

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
(Loss)/profit before taxation
(20,240)
786,545
Expected tax charge based on the standard rate of corporation tax in the UK of 19.91% (2022: 19.00%)
4,030
149,444
Tax effect of expenses that are not deductible in determining taxable profit
5,223
(88,674)
Tax effect of utilisation of tax losses not previously recognised
(51,633)
50,938
Unutilised tax losses carried forward
53,192
-
0
Group relief
(387)
-
0
Permanent capital allowances in excess of depreciation
(2,649)
8,103
Foreign tax adjustments
9,229
20,173
Enhanced research and development expenditure
(5,528)
(38,753)
Taxation charge
11,477
101,231
The UK tax rate referred to above is the average rate applicable to the group for the year.
8
Tangible fixed assets
Group
Leasehold land and buildings
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
£
Cost
At 1 January 2023
567,927
1,347,382
917,749
2,833,058
Additions
-
0
3,199
98,467
101,666
Exchange adjustments
-
0
315
6,926
7,241
At 31 December 2023
567,927
1,350,896
1,023,142
2,941,965
Depreciation and impairment
At 1 January 2023
567,927
1,326,231
736,372
2,630,530
Depreciation charged in the year
-
0
11,282
58,426
69,708
Exchange adjustments
-
0
202
5,051
5,253
At 31 December 2023
567,927
1,337,715
799,849
2,705,491
Carrying amount
At 31 December 2023
-
0
13,181
223,293
236,474
At 31 December 2022
-
0
21,151
181,377
202,528
CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
8
Tangible fixed assets
(Continued)
- 13 -
Company
Fixtures, fittings & equipment
£
Cost
At 1 January 2023 and 31 December 2023
2,804
Depreciation and impairment
At 1 January 2023 and 31 December 2023
-
0
Carrying amount
At 31 December 2023
2,804
At 31 December 2022
2,804
9
Fixed asset investments
Group
Company
2023
2022
2023
2022
£
£
£
£
Listed investments
5,141
5,141
106,352
106,352

Listed investments included above:

Listed investments carrying amount
5,141
5,141
106,352
106,352
Movements in fixed asset investments
Group
Investments other than loans
£
Cost or valuation
At 1 January 2023 and 31 December 2023
5,141
Carrying amount
At 31 December 2023
5,141
At 31 December 2022
5,141
CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
9
Fixed asset investments
(Continued)
- 14 -
Movements in fixed asset investments
Company
Investments other than loans
£
Cost or valuation
At 1 January 2023 and 31 December 2023
106,352
Carrying amount
At 31 December 2023
106,352
At 31 December 2022
106,352
10
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Glassworks Amsterdam Limited
England & Wales
Post production services
Ordinary
100
0
Glassworks Barcelona Sociedad Limitada
Spain
Post production services
Ordinary
65
0
Glassworks London Limited
England & Wales
Post production services
Ordinary
100
0
11
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
961,203
969,352
17,281
-
0
Corporation tax recoverable
36,232
23,078
-
0
-
0
Amounts owed by group undertakings
-
(163,992)
246,451
400,239
Other debtors
465,358
1,100,907
55,753
27,736
Prepayments and accrued income
404,799
383,006
96,000
156,391
1,867,592
2,312,351
415,485
584,366
Amounts falling due after more than one year:
Deferred tax asset (note 16)
27,488
27,488
-
0
-
0
Total debtors
1,895,080
2,339,839
415,485
584,366
CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
12
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans
14
144,444
144,444
144,444
144,444
Obligations under finance leases
-
0
6,669
-
0
-
0
Other borrowings
14
173,822
133,944
-
0
-
0
Trade creditors
359,282
345,820
-
0
44,131
Amounts due to group undertakings
-
0
-
0
94,769
-
0
Corporation tax payable
26,800
115,747
21,331
10,892
Other taxation and social security
554,673
305,105
-
-
Deferred income
12,743
120,000
-
0
-
0
Other creditors
24,839
668,810
-
0
50,712
Accruals and deferred income
150,229
186,997
24,250
84,417
1,446,832
2,027,536
284,794
334,596

The bank loan was secured on the group's assets.

13
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans
14
264,815
409,259
264,815
409,259
Other borrowings
14
427,157
447,387
-
0
-
0
691,972
856,646
264,815
409,259
14
Loans and overdrafts
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
409,259
553,703
409,259
553,703
Other loans
600,979
581,331
-
0
-
0
1,010,238
1,135,034
409,259
553,703
Payable within one year
318,266
278,388
144,444
144,444
Payable after one year
691,972
856,646
264,815
409,259

The bank loan was secured on the group's assets.

CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
15
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
98,027
70,590

A defined contribution pension scheme is operated for all qualifying employees. The group companies contributes towards the employees personal pension plans, and the contributions are charged to the profit and loss account.

16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2023
2022
2023
2022
Group
£
£
£
£
(7,226)
7,144
-
27,488

The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.

17
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of 1p each
15,200
15,200
152
152
Ordinary 'B' shares of 1p each
4,800
4,800
48
48
20,000
20,000
200
200
CADBOLL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
18
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
368,132
600,612
99,788
251,198
Between two and five years
693,222
1,119,154
-
99,788
1,061,354
1,719,766
99,788
350,986
19
Related party transactions
Transactions with related parties

Ordinary dividends were paid to the directors, amounting to £156,190 (2022: £175,199).

20
Controlling party

The ultimate controlling party is H Macleod, a director of the company.

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