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REGISTERED NUMBER: 08032343 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

FOR

CADONIX LTD

CADONIX LTD (REGISTERED NUMBER: 08032343)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 May 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CADONIX LTD

COMPANY INFORMATION
for the Period 1 May 2023 to 31 March 2024







DIRECTOR: M Arnone





REGISTERED OFFICE: John Eccles House
Robert Robinson Avenue
Oxford Science Park
Oxford
Oxfordshire
OX4 4GP





REGISTERED NUMBER: 08032343 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

CADONIX LTD (REGISTERED NUMBER: 08032343)

BALANCE SHEET
31 March 2024

31.3.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,858 16,603

CURRENT ASSETS
Debtors 5 202,150 1,312,641
Investments 6 265,000 265,000
Cash at bank and in hand 542,978 268,140
1,010,128 1,845,781
CREDITORS
Amounts falling due within one year 7 112,261 672,716
NET CURRENT ASSETS 897,867 1,173,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

913,725

1,189,668

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 912,725 1,188,668
SHAREHOLDERS' FUNDS 913,725 1,189,668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CADONIX LTD (REGISTERED NUMBER: 08032343)

BALANCE SHEET - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 February 2025 and were signed by:





M Arnone - Director


CADONIX LTD (REGISTERED NUMBER: 08032343)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 May 2023 to 31 March 2024

1. STATUTORY INFORMATION

Cadonix Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has shortened the accounting period of these financial statements to 31 March to align the year-end date with that of the parent company; as a result, the comparatives are not entirely comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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 and fittings 25% straight line
Computer equipment 25% straight line

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

Taxation
Taxation for the period 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 balance sheet date.


CADONIX LTD (REGISTERED NUMBER: 08032343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 May 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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 balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 26,507
Additions 6,040
At 31 March 2024 32,547
DEPRECIATION
At 1 May 2023 9,904
Charge for period 6,785
At 31 March 2024 16,689
NET BOOK VALUE
At 31 March 2024 15,858
At 30 April 2023 16,603

CADONIX LTD (REGISTERED NUMBER: 08032343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 May 2023 to 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.4.23
£    £   
Trade debtors 186,772 1,259,141
Other debtors 15,378 53,500
202,150 1,312,641

6. CURRENT ASSET INVESTMENTS
31.3.24 30.4.23
£    £   
Shares in group undertakings 265,000 265,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.4.23
£    £   
Trade creditors 44,010 27,119
Taxation and social security 16,274 17,623
Other creditors & accruals 51,977 627,974
112,261 672,716

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 30.4.23
£    £   
Within one year 39,100 30,500
Between one and five years - 39,100
39,100 69,600

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 30.4.23
value: £    £   
1,000 Ordinary 1 1,000 1,000

10. POST BALANCE SHEET EVENTS

After the balance sheet date, Cadonix Limited was acquired by Re:Build Cadonix, Llc, a company incorporated in Delaware, United States of America.

The Ultimate Controlling Party prior to acquisition was Sabella Davies by virtue of ownership of greater than 75% of the company shareholding. The Ultimate Controlling Party after acquisition is Re:Build Cadonix Llc.