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11 June 2025
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No description of principal activity
2023-10-01
Sage Accounts Production Advanced 2023 - FRS102_2023
999,603
301,911
1,301,514
103,080
142,800
245,880
1,055,634
896,523
xbrli:pure
xbrli:shares
iso4217:GBP
SC264444
2023-10-01
2024-09-30
SC264444
2024-09-30
SC264444
2023-09-30
SC264444
2022-10-01
2023-09-30
SC264444
2023-09-30
SC264444
2022-09-30
SC264444
bus:Director11
2023-10-01
2024-09-30
SC264444
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-09-30
SC264444
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2024-09-30
SC264444
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-10-01
2024-09-30
SC264444
core:WithinOneYear
2024-09-30
SC264444
core:WithinOneYear
2023-09-30
SC264444
core:ShareCapital
2024-09-30
SC264444
core:ShareCapital
2023-09-30
SC264444
core:RetainedEarningsAccumulatedLosses
2024-09-30
SC264444
core:RetainedEarningsAccumulatedLosses
2023-09-30
SC264444
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-09-30
SC264444
bus:SmallEntities
2023-10-01
2024-09-30
SC264444
bus:Audited
2023-10-01
2024-09-30
SC264444
bus:SmallCompaniesRegimeForAccounts
2023-10-01
2024-09-30
SC264444
bus:PrivateLimitedCompanyLtd
2023-10-01
2024-09-30
SC264444
bus:FullAccounts
2023-10-01
2024-09-30
SC264444
core:AllSubsidiaries
2023-10-01
2024-09-30
COMPANY REGISTRATION NUMBER:
SC264444
|
CDL Vehicle Information Services Ltd |
|
|
Filleted Financial Statements |
|
|
CDL Vehicle Information Services Ltd |
|
Year Ended 30 September 2024
|
Statement of Financial Position |
1 |
|
|
|
Notes to the Financial Statements |
2 |
|
|
|
CDL Vehicle Information Services Ltd |
|
|
Statement of Financial Position |
|
30 September 2024
Fixed assets
|
Intangible assets |
5 |
|
1,055,634 |
896,523 |
|
|
|
|
|
Current assets
|
Debtors |
6 |
899,517 |
|
1,020,190 |
|
Cash at bank and in hand |
50,358 |
|
– |
|
--------- |
|
------------ |
|
949,875 |
|
1,020,190 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
553,062 |
|
556,432 |
|
--------- |
|
------------ |
|
Net current assets |
|
396,813 |
463,758 |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
1,452,447 |
1,360,281 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
– |
22,864 |
|
|
------------ |
------------ |
|
Net assets |
|
1,452,447 |
1,337,417 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2 |
2 |
|
Profit and loss account |
|
1,452,445 |
1,337,415 |
|
|
------------ |
------------ |
|
Shareholders funds |
|
1,452,447 |
1,337,417 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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 were approved by the
board of directors
and authorised for issue on
11 June 2025
, and are signed on behalf of the board by:
Company registration number: SC264444
|
CDL Vehicle Information Services Ltd |
|
|
Notes to the Financial Statements |
|
Year Ended 30 September 2024
1.
General Information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 1 George Square, Castle Brae, Dunfermline, Fife, KY11 8QF.
2.
Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure Exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of CDL Group Holdings Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - The directors have considered the recoverability of the company's internally generated intangible, software development assets which comprised of the CDL ecosystem, products and platform based on value-in-use calculations that require the use of estimates. - Determination of recoverability of trade debtors. A specific provision is made against certain debts where in the opinion of the directors the debt is not fully recoverable. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - Intangible fixed assets are amortised over their useful economic lives. The actual lives of the assets may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance are taken into account. Amortisation charged in the year was £142,800 (2023: £84,788). - Recoverability of trade debtors. A specific provision is made against certain debts where in the opinion of the directors the debt is not considered to be fully recoverable. The provision against trade debtors at the year end was £3,367(2023: £7,652).
Revenue Recognition
The turnover shown in the profit and loss account represents work performed during the year, exclusive of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible Assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Software development costs are recognised as an intangible assets when all of the following criteria are demonstrated: - The technical feasibility of completing the software so that it will be available for use or sale. - The intention to complete the software and use or sell it. - The ability to use the software or to sell it. - How the software will generate probable future economic benefits. - The availability of adequate technical, financial and other resources to complete the development and to use or sell the software. - The ability to measure reliably the expenditure attributable to the software during its development.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Software development costs |
- |
7 years straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Staff Costs
The average number of persons employed by the company during the year amounted to Nil
(2023: Nil).
All employees are employed by a fellow company within the group - Cheshire Datasystems Limited. The staff costs are recharged by Cheshire Datasystems Limited to group companies as part of the management recharge.
5.
Intangible Assets
|
Software development costs |
|
£ |
|
Cost |
|
|
At 1 October 2023 |
999,603 |
|
Additions |
301,911 |
|
------------ |
|
At 30 September 2024 |
1,301,514 |
|
------------ |
|
Amortisation |
|
|
At 1 October 2023 |
103,080 |
|
Charge for the year |
142,800 |
|
------------ |
|
At 30 September 2024 |
245,880 |
|
------------ |
|
Carrying amount |
|
|
At 30 September 2024 |
1,055,634 |
|
------------ |
|
At 30 September 2023 |
896,523 |
|
------------ |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
743,659 |
803,609 |
|
Other debtors |
155,858 |
216,581 |
|
--------- |
------------ |
|
899,517 |
1,020,190 |
|
--------- |
------------ |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
113,699 |
|
Trade creditors |
36,660 |
39,052 |
|
Amounts owed to group undertakings |
371,298 |
206,892 |
|
Other creditors |
145,104 |
196,789 |
|
--------- |
--------- |
|
553,062 |
556,432 |
|
--------- |
--------- |
|
|
|
8.
Summary Audit Opinion
The auditor's report dated
11 June 2025
was
unqualified
.
The senior statutory auditor was
Caroline Monk BA FCA
, for and on behalf of
Beever and Struthers
.
9.
Related Party Transactions
The company is a wholly owned subsidiary of CDL Group Holdings Limited. The company has taken advantage of the exemption in FRS102 Section 33.1A from disclosing transactions or balances with entities which form part of the group. The consolidated financial statements of CDL Group Holdings Limited, within which the company is included, can be obtained from Companies House.
10.
Controlling Party
The directors regard CDL Group Holdings Limited, a company incorporated in England and Wales, as the ultimate parent company. CDL Group Holdings Limited prepare consolidated accounts which are publicly available from Companies House, Crown Way, Cardiff. The ultimate controlling party of this company is considered to be M F Johnson who has control of the issued share capital of CDL Group Holdings Limited.