Company registration number 12631719 (England and Wales)
CARDAN FINANCIAL GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
CARDAN FINANCIAL GROUP LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
CARDAN FINANCIAL GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
856,245
603,262
Investments
5
2,029,476
222,722
2,885,721
825,984
Current assets
Debtors
-
0
50,000
Cash at bank and in hand
396,734
4,629
396,734
54,629
Creditors: amounts falling due within one year
(893,050)
(528,829)
Net current liabilities
(496,316)
(474,200)
Total assets less current liabilities
2,389,405
351,784
Creditors: amounts falling due after more than one year
(2,298,058)
(95,000)
Net assets
91,347
256,784
Capital and reserves
Called up share capital
6
12
12
Share premium account
387,998
387,998
Profit and loss reserves
(296,663)
(131,226)
Total equity
91,347
256,784
CARDAN FINANCIAL GROUP LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr A J F Morley
Director
Company registration number 12631719 (England and Wales)
CARDAN FINANCIAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Cardan Financial Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22, The Tything, Worcester, United Kingdom, WR1 1HD.

1.1
Reporting period

The financial statements for the comparative period were for greater than 12 months in order to bring the accounting reference date of the holding company in line with its trading subsidiary. The comparative figures are consequently presented for a 17 month period.

1.2
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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company 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.

1.4
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.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years, commencing in the year immediately following acquisition.

CARDAN FINANCIAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries are initially measured at transaction price and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.

 

With the exception of Bespoke-Advice Limited, which continues a trading entity, subsidiaries acquired as part of a business acquisition cease to trade at completion and their activities are absorbed into the operating companies within the group. The director considers the cost of the investment in subsidiary to be akin to the purchase of books, which are treated as intangible assets in these financial statements and amortised over their estimated useful economic life of ten years.

 

In order to make valuation and amortisation principles between the two different forms of acquisition, the cost of purchasing shares in subsidiary companies is written off over its estimated useful life of ten years, starting in the accounting period immediately following acquisition.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and the benefit of group relief surrenders.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

1.8
Retirement benefits

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

2
Judgements and key sources of estimation uncertainty

In the application of the company’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.

3
Employees

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

2024
2023
Number
Number
Total
2
1
CARDAN FINANCIAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Intangible fixed assets
Total
£
Cost
At 1 November 2023
645,805
Additions
317,332
At 31 October 2024
963,137
Amortisation and impairment
At 1 November 2023
42,543
Amortisation charged for the year
64,349
At 31 October 2024
106,892
Carrying amount
At 31 October 2024
856,245
At 31 October 2023
603,262
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2,029,476
222,722
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 November 2023
222,722
Additions
1,806,754
At 31 October 2024
2,029,476
Carrying amount
At 31 October 2024
2,029,476
At 31 October 2023
222,722
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
863
1,233
8
12
S&P Ordinary of 1p each
370
-
4
-
1,233
1,233
12
12
CARDAN FINANCIAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
6
Called up share capital
(Continued)
- 6 -

370 Ordinary shares of £0.01 each were reclassified as S&P Ordinary shares of £0.01 each during the year. All share classes rank pari passu.

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