Company registration number SC215320 (Scotland)
CAMBRIC SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CAMBRIC SYSTEMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CAMBRIC SYSTEMS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,645
16,045
Current assets
Debtors
5
2,790,208
880,783
Cash at bank and in hand
458,965
1,917,278
3,249,173
2,798,061
Creditors: amounts falling due within one year
6
(1,329,207)
(1,706,742)
Net current assets
1,919,966
1,091,319
Total assets less current liabilities
1,929,611
1,107,364
Provisions for liabilities
(1,573)
(2,731)
Net assets
1,928,038
1,104,633
Capital and reserves
Called up share capital
60
60
Capital redemption reserve
60
60
Profit and loss reserves
1,927,918
1,104,513
Total equity
1,928,038
1,104,633

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

For the financial year ended 31 March 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 November 2024 and are signed on its behalf by:
Mr G Sherriff
Director
Company registration number SC215320 (Scotland)
CAMBRIC SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Cambric Systems Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 26, Dunfermline Business Centre, Izatt Avenue, Dunfermline, Fife, Scotland, KY11 3BZ.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

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

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

Fixtures, fittings & equipment
25% on cost
Computer equipment
25% on cost

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 credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company 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).

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks..

CAMBRIC SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are initially measured at transaction price.

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price.

1.7
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 company’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.

 

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.

1.8
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.

 

 

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CAMBRIC SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
15
14
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
53,153
102,836
Adjustments in respect of prior periods
-
0
(27)
Total UK current tax
53,153
102,809
R&D relief claim
(136,557)
-
0
Total current tax
(83,404)
102,809
Deferred tax
Origination and reversal of timing differences
(1,158)
(607)
Total tax (credit)/charge
(84,562)
102,202
CAMBRIC SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
3,690
34,633
38,323
Additions
652
3,325
3,977
Disposals
-
0
(20,043)
(20,043)
At 31 March 2024
4,342
17,915
22,257
Depreciation and impairment
At 1 April 2023
2,057
20,221
22,278
Depreciation charged in the year
890
4,476
5,366
Eliminated in respect of disposals
-
0
(15,032)
(15,032)
At 31 March 2024
2,947
9,665
12,612
Carrying amount
At 31 March 2024
1,395
8,250
9,645
At 31 March 2023
1,633
14,412
16,045
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
550,510
873,781
Other debtors
2,230,008
8
Prepayments and accrued income
9,690
6,994
2,790,208
880,783
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
18,480
-
0
Corporation tax
53,153
69,440
Other taxation and social security
175,962
268,188
Deferred income
1,072,147
1,355,653
Other creditors
3,280
6,713
Accruals and deferred income
6,185
6,748
1,329,207
1,706,742
CAMBRIC SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
2,230,000
-

The loan to the company's parent is interest free and repayable at the discretion of the borrower.

8
Parent company

The parent company of the group is Abingdon Software Group Limited, a company registered in England and Wales.

2024-03-312023-04-01false27 November 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr G SherriffMrs C SherriffMr A ShamsMiss Z OlczakMr G SherrifffalsefalseSC2153202023-04-012024-03-31SC2153202024-03-31SC2153202023-03-31SC215320core:FurnitureFittings2024-03-31SC215320core:ComputerEquipment2024-03-31SC215320core:FurnitureFittings2023-03-31SC215320core:ComputerEquipment2023-03-31SC215320core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC215320core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31SC215320core:CurrentFinancialInstruments2024-03-31SC215320core:CurrentFinancialInstruments2023-03-31SC215320core:ShareCapital2024-03-31SC215320core:ShareCapital2023-03-31SC215320core:CapitalRedemptionReserve2024-03-31SC215320core:CapitalRedemptionReserve2023-03-31SC215320core:RetainedEarningsAccumulatedLosses2024-03-31SC215320core:RetainedEarningsAccumulatedLosses2023-03-31SC215320bus:CompanySecretaryDirector12023-04-012024-03-31SC215320core:FurnitureFittings2023-04-012024-03-31SC215320core:ComputerEquipment2023-04-012024-03-31SC2153202022-04-012023-03-31SC215320core:UKTax2023-04-012024-03-31SC215320core:UKTax2022-04-012023-03-31SC215320core:ForeignTax2023-04-012024-03-31SC215320core:ForeignTax2022-04-012023-03-31SC215320core:FurnitureFittings2023-03-31SC215320core:ComputerEquipment2023-03-31SC2153202023-03-31SC215320bus:PrivateLimitedCompanyLtd2023-04-012024-03-31SC215320bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC215320bus:FRS1022023-04-012024-03-31SC215320bus:AuditExemptWithAccountantsReport2023-04-012024-03-31SC215320bus:Director12023-04-012024-03-31SC215320bus:Director22023-04-012024-03-31SC215320bus:Director32023-04-012024-03-31SC215320bus:Director42023-04-012024-03-31SC215320bus:CompanySecretary12023-04-012024-03-31SC215320bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP