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Registered number: 05412430









CARDROOM ENTERPRISES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
CARDROOM ENTERPRISES LIMITED
 
 
COMPANY INFORMATION


Directors
P J Kriskinans 
S L Kriskinans 




Company secretary
S L Kriskinans



Registered number
05412430



Registered office
20 Thirlby Lane
Shenley Church End

Milton Keynes

MK5 6EU




Accountants
Grant Thornton UK LLP
Chartered Accountants

Victoria House

199 Avebury Boulevard

Milton Keynes

MK9 1AU





 
CARDROOM ENTERPRISES LIMITED
 

CONTENTS



Page
Accountant's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10


  
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Report to the directors on the preparation of the unaudited statutory financial statements of Cardroom Enterprises Limited for the year ended 30 April 2024 

We have compiled the accompanying financial statements of Cardroom Enterprises Limited (the 'Company') based on the information you have provided. These financial statements comprise the Balance Sheet of Cardroom Enterprises Limited as at 30 April 2024, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. 

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standards including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. 

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
This report is made solely to the Board of Directors of Cardroom Enterprises Limited, as a body, in accordance with the terms of our engagement letter dated 9 January 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Cardroom Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of Cardroom Enterprises Limited, as a body, in this report in accordance with our engagement letter dated 9 January 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cardroom Enterprises Limited and its Board of Directors, as a body, for our work or for this report.



Grant Thornton UK LLP
 
Chartered Accountants
  
Milton Keynes

30 January 2025
Page 1

 
CARDROOM ENTERPRISES LIMITED
REGISTERED NUMBER: 05412430

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
89,160
72,256

Cash and cash equivalents
  
161,467
566,747

  
250,627
639,003

Creditors: amounts falling due within one year
 6 
(106,536)
(152,808)

Net current assets
  
 
 
144,091
 
 
486,195

Total assets less current liabilities
  
144,091
486,195

  

Net assets
  
144,091
486,195


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
143,991
486,095

  
144,091
486,195


Page 2

 
CARDROOM ENTERPRISES LIMITED
REGISTERED NUMBER: 05412430
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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




P J Kriskinans
Director

Date: 30 January 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company, limited by shares, and is registered in England and Wales.
Registered number: 05412430
Registered office:
20 Thirlby Lane
Shenley Church End
Milton Keynes
MK5 6EU

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company continues to be profitable and to manage its business risk successfully. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these accounts. 
In consideration of the above, the Company continues to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

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.

Page 4

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is receivable by the company in respect of software subscriptions.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss 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.

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.

Page 5

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Financial assets and liabilities are offset, with 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. 

 

Page 6

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.




 

Page 7

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023: 2).

Page 8

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 May 2023
12,549



At 30 April 2024

12,549



Depreciation


At 1 May 2023
12,549



At 30 April 2024

12,549



Net book value



At 30 April 2024
-



At 30 April 2023
-


5.


Debtors

2024
2023
£
£


Trade debtors
58,434
51,117

Amounts owed by related undertakings
15,059
6,487

Other debtors
55
100

Prepayments and accrued income
15,612
14,552

89,160
72,256


Page 9

 
CARDROOM ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
379
495

Amounts owed to group undertakings
-
35,952

Corporation tax
8,015
11,679

Other taxation and social security
21,967
27,613

Other creditors
2,486
6,776

Accruals and deferred income
73,689
70,293

106,536
152,808



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023: 100) Ordinary Shares of  £1.00 each
100
100



8.


Related party transactions

Related party transactions conducted under normal market conditions have not been disclosed in accordance with Section 1A of FRS 102.


9.


Ultimate controlling party

The company's intermediate controlling party is ABC Enterprise Systems Limited and its ultimate holding company is Maylark Limited.

Page 10