REGISTERED NUMBER: |
Financial Statements |
for the Period 28 May 2023 to 31 May 2024 |
for |
C & D Group Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Period 28 May 2023 to 31 May 2024 |
for |
C & D Group Limited |
C & D Group Limited (Registered number: 06909322) |
Contents of the Financial Statements |
for the Period 28 May 2023 to 31 May 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
C & D Group Limited |
Company Information |
for the Period 28 May 2023 to 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and |
Statutory Auditors |
Venture House |
Calne Road |
Lyneham |
Chippenham |
SN15 4PP |
C & D Group Limited (Registered number: 06909322) |
Statement of Financial Position |
31 May 2024 |
31.5.24 | 27.5.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
The financial statements were approved by the Board of Directors and authorised for issue on |
C & D Group Limited (Registered number: 06909322) |
Notes to the Financial Statements |
for the Period 28 May 2023 to 31 May 2024 |
1. | STATUTORY INFORMATION |
C & D Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about C & D Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Recruitment Acquisitions Group Limited, Units 2 & 3 Lancaster Place, South Marston Industrial Estate, Swindon, England, SN3 4UQ. |
Significant judgements and estimates |
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for 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 and settlement discounts. |
Tangible fixed assets |
Plant and machinery etc | - |
C & D Group Limited (Registered number: 06909322) |
Notes to the Financial Statements - continued |
for the Period 28 May 2023 to 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. |
Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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. |
Employee benefits |
The costs of short-term employee benefits are recognised as as 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 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. |
C & D Group Limited (Registered number: 06909322) |
Notes to the Financial Statements - continued |
for the Period 28 May 2023 to 31 May 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 28 May 2023 |
and 31 May 2024 |
DEPRECIATION |
At 28 May 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
The fixed assets have been scrapped following the cessation of trade and subsequent sale. |
5. | FIXED ASSET INVESTMENTS |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: Units 2 & 3 Lancaster Place, South Marston Industrial Estate, Swindon, England, SN3 4UQ. |
Nature of business: |
% |
Class of shares: | holding |
The company was dissolved on 1 October 2024. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 27.5.23 |
£ | £ |
Trade debtors |
Other debtors |
The conpany factors its debts. Included in trade debtors are factored debts of £124,754 (2023: £1,077,224) |
C & D Group Limited (Registered number: 06909322) |
Notes to the Financial Statements - continued |
for the Period 28 May 2023 to 31 May 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 27.5.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Bank loans and overdrafts are amounts secured on trade debtors disclosed in note 7. |
Last year the bank loans figure included £200,000 of a guarantee held by the factoring company. The guarantee of £200,000 is shown in other debtors this year. The comparatives have been amended to reflect this revised treatment. |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.5.24 | 27.5.23 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
A fixed and floating charge over the company's assets has been given in respect of a factoring debt of £115,314 (2023: £746,032). |
10. | CALLED UP SHARE CAPITAL |
Alloted, called up and fully paid |
31.12.21 |
31.12.20 |
£ | £ |
750 | Ordinary 'A' shares of £1 each | 750 | 750 |
150 | Ordinary 'B' shares of £1 each | 150 | 150 |
50 | Ordinary 'C' shares of £1 each | 50 | 50 |
50 | Ordinary 'D' shares of £1 each | 50 | 50 |
1,000 | 1,000 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
C & D Group Limited (Registered number: 06909322) |
Notes to the Financial Statements - continued |
for the Period 28 May 2023 to 31 May 2024 |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Consultancy fees of £64,000 (£171,250 in 2023) were charged to the company during the year by companies controlled by a director. |
13. | GOING CONCERN AND POST BALANCE SHEET EVENTS |
During the year the transfer of the trade of C&D Group Limited to Skills Direct Limited, a group company commenced; the transfer began with sales in April 2024. Therefore, the directors have not adopted the going concern basis in preparing the Company's financial statements. |
In January 2025 it was agreed to sell all of the shares in the Company, currently owned by Recruitment Acquisition Group Limited, to an individual investor. |
14. | ULTIMATE PARENT COMPANY |
The Company is included in the group accounts prepared by the ultimate parent company, Recruitment Acquisitions Group Limited, copies of which can be obtained from 4 Fore Street, Trowbridge, BA14 8HD. |
Recruitment Acquisitions Group Limited is also the immediate parent company and heads up the smallest and largest group preparing consolidated accounts in which the Company's results are included. |