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Company registration number: 1955756







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


CADCORP LIMITED






































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CADCORP LIMITED
 


 
COMPANY INFORMATION


Directors
T G Armstrong 
M P Daly 
G Randle  




Company secretary
T G Armstrong



Registered number
1955756



Registered office
Sterling Court
Norton Road

Stevenage Hertfordshire

SG1 2JY






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP





 


CADCORP LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 


CADCORP LIMITED
REGISTERED NUMBER:1955756



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,456
18,420

  
14,456
18,420

Current assets
  

Stocks
  
2,773
6,184

Debtors: amounts falling due within one year
 5 
842,052
652,006

Cash at bank and in hand
  
2,477,209
2,419,125

  
3,322,034
3,077,315

Creditors: amounts falling due within one year
 6 
(2,206,637)
(1,868,103)

Net current assets
  
 
 
1,115,397
 
 
1,209,212

Total assets less current liabilities
  
1,129,853
1,227,632

  

Net assets
  
1,129,853
1,227,632


Capital and reserves
  

Called up share capital 
  
217,867
217,867

Share premium account
  
130,920
130,920

Capital redemption reserve
  
11,472
11,472

Profit and loss account
  
769,594
867,373

  
1,129,853
1,227,632


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 profit and loss account 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: 




................................................
T G Armstrong
Director

Date: 25 March 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


CADCORP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Cadcorp Limited 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

 
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Revenue

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. Income from ongoing support contracts is spread over the life of the contract according to the level of costs expected to be incurred as the contract is performed.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 


CADCORP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 reporting date in the countries where the Company operates and generates income.


 
2.8

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:

Plant and machinery
-
25%
Office equipment
-
50%

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.

  
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. 

Page 3

 


CADCORP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

  
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 32 (2023 - 33).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
1,800
94,276
96,076


Additions
-
14,964
14,964


Disposals
-
(50,487)
(50,487)



At 30 June 2024

1,800
58,753
60,553



Depreciation


At 1 July 2023
1,476
76,180
77,656


Charge for the year on owned assets
324
18,604
18,928


Disposals
-
(50,487)
(50,487)



At 30 June 2024

1,800
44,297
46,097



Net book value



At 30 June 2024
-
14,456
14,456



At 30 June 2023
324
18,096
18,420

Page 4

 


CADCORP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
617,188
479,217

Other debtors
224,864
172,789

842,052
652,006



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
47,730
36,311

Corporation tax
53,687
-

Other taxation and social security
136,792
117,063

Other creditors
353,428
263,729

Deferred income
1,615,000
1,451,000

2,206,637
1,868,103



7.


Controlling party

MBO Holdings Limited is the parent company by virtue of owning 83% of the issues share capital, MBO Holdings Limited is a company registered in England and Wales. The registered office is Sterling Court, Norton Road, Stevenage, Hertfordshire, SG1 2JY.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 26 March 2025 by James Fox ACA FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 5