Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Catherine Munday 19/03/2010 James Munday 25/11/1999 David Shearn 25/11/1999 Dawn Shearn 13/05/2024 19/03/2010 30 April 2025 The principal activity of the company in the year under review was that of wholesale of clothing and footwear. 03883919 2024-12-31 03883919 bus:Director1 2024-12-31 03883919 bus:Director2 2024-12-31 03883919 bus:Director3 2024-12-31 03883919 bus:Director4 2024-12-31 03883919 2023-12-31 03883919 core:CurrentFinancialInstruments 2024-12-31 03883919 core:CurrentFinancialInstruments 2023-12-31 03883919 core:Non-currentFinancialInstruments 2024-12-31 03883919 core:Non-currentFinancialInstruments 2023-12-31 03883919 core:ShareCapital 2024-12-31 03883919 core:ShareCapital 2023-12-31 03883919 core:RevaluationReserve 2024-12-31 03883919 core:RevaluationReserve 2023-12-31 03883919 core:RetainedEarningsAccumulatedLosses 2024-12-31 03883919 core:RetainedEarningsAccumulatedLosses 2023-12-31 03883919 2024-01-01 2024-12-31 03883919 bus:AbridgedAccounts 2024-01-01 2024-12-31 03883919 bus:SmallEntities 2024-01-01 2024-12-31 03883919 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03883919 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03883919 bus:Director1 2024-01-01 2024-12-31 03883919 bus:Director2 2024-01-01 2024-12-31 03883919 bus:Director3 2024-01-01 2024-12-31 03883919 bus:Director4 2024-01-01 2024-12-31 03883919 core:BottomRangeValue 2024-01-01 2024-12-31 03883919 core:TopRangeValue 2024-01-01 2024-12-31 03883919 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 03883919 (England and Wales)

CADET DIRECT LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 31 December 2024

CADET DIRECT LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CADET DIRECT LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
CADET DIRECT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Catherine Munday
James Munday
David Shearn
Dawn Shearn (Resigned 13 May 2024)
SECRETARY David Shearn
REGISTERED OFFICE Unit 4 Sybron Way
Crowborough
TN6 3DZ
United Kingdom
COMPANY NUMBER 03883919 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
CADET DIRECT LIMITED

BALANCE SHEET

As at 31 December 2024
CADET DIRECT LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.24 31.12.23
£ £
Fixed assets
Intangible assets 3 11,693 12,297
Tangible assets 4 1,359,487 1,259,364
1,371,180 1,271,661
Current assets
Stocks 432,856 449,754
Debtors 137,545 51,915
Cash at bank and in hand 134,304 271,005
704,705 772,674
Creditors: amounts falling due within one year ( 598,333) ( 635,182)
Net current assets 106,372 137,492
Total assets less current liabilities 1,477,552 1,409,153
Creditors: amounts falling due after more than one year ( 152,209) ( 213,396)
Net assets 1,325,343 1,195,757
Capital and reserves
Called-up share capital 1,002 1,002
Revaluation reserve 662,889 587,889
Profit and loss account 661,452 606,866
Total shareholders' funds 1,325,343 1,195,757

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cadet Direct Limited (registered number: 03883919) were approved and authorised for issue by the Board of Directors on 30 April 2025. They were signed on its behalf by:

David Shearn
Director
CADET DIRECT LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CADET DIRECT LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cadet Direct Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4 Sybron Way, Crowborough, TN6 3DZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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

For sale of goods:

Turnover is recognised to the extent it is probable that economic benefit will flow to the company, and that it can be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, VAT and other sales taxes.

Turnover from the sale of goods is recognised when the following conditions are satisfied:
- the significant risks and rewards of ownership are transferred to the customer;
- the company does not retain managerial involvement, nor control over the goods sold;
- the amount of turnover can be reliably measured;
- the right to consideration due for the transaction is probable; and
- the costs incurred, or to be incurred, can be reliably measured.

Turnover is recognised upon dispatch or collection of the goods by the customer.

Monies received in respect of advanced orders are treated as deposits until the criteria for recognition as turnover is met.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Intangible assets 3 - 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Tangible assets not depreciated
15 % reducing balance
3 - 6.67 years straight line
Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

Cost is calculated using the cost of purchase of finished goods for resale.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

31.12.24 31.12.23
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 18

3. Intangible assets

4. Tangible assets

5. Related party transactions

Transactions with the entity's directors

As at 31 December 2024, the directors owed £980 (2023: £193) to the company. In the year then ended, £980 was advanced, £nil has been repaid, £nil has been written off, and £nil has been waived.

Amounts advanced to directors are unsecured, interest-free and repayable on demand.