Caseware UK (AP4) 2024.0.164 2024.0.164 2023-07-01No description of principal activity0false0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01117715 2023-07-01 2024-06-30 01117715 2022-07-01 2023-06-30 01117715 2024-06-30 01117715 2023-06-30 01117715 c:Director4 2023-07-01 2024-06-30 01117715 d:CurrentFinancialInstruments 2024-06-30 01117715 d:CurrentFinancialInstruments 2023-06-30 01117715 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01117715 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01117715 d:ShareCapital 2024-06-30 01117715 d:ShareCapital 2023-06-30 01117715 d:SharePremium 2024-06-30 01117715 d:SharePremium 2023-06-30 01117715 d:RetainedEarningsAccumulatedLosses 2024-06-30 01117715 d:RetainedEarningsAccumulatedLosses 2023-06-30 01117715 c:OrdinaryShareClass1 2023-07-01 2024-06-30 01117715 c:OrdinaryShareClass1 2024-06-30 01117715 c:OrdinaryShareClass1 2023-06-30 01117715 c:FRS102 2023-07-01 2024-06-30 01117715 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 01117715 c:FullAccounts 2023-07-01 2024-06-30 01117715 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01117715 6 2023-07-01 2024-06-30 01117715 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01117715










Cardinal Group Limited








Unaudited

Financial statements

For the year ended 30 June 2024

 
Cardinal Group Limited
Registered number: 01117715

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2,845,086
2,775,086

  
2,845,086
2,775,086

Current assets
  

Debtors: amounts falling due within one year
 5 
9,384,139
9,734,139

Cash at bank and in hand
  
62,971
138,599

  
9,447,110
9,872,738

Creditors: amounts falling due within one year
 6 
(1,959,410)
(1,965,034)

Net current assets
  
 
 
7,487,700
 
 
7,907,704

Total assets less current liabilities
  
10,332,786
10,682,790

  

Net assets
  
10,332,786
10,682,790


Capital and reserves
  

Called up share capital 
 7 
122,250
122,250

Share premium account
  
597,750
597,750

Profit and loss account
  
9,612,786
9,962,790

  
10,332,786
10,682,790


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 statement of income and retained earnings 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: 

L G Marks
Director
Date: 24 June 2025

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

Page 1

 
Cardinal Group Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England and Wales. The company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA. The Company's principal place of business is 95 Dorset House, Gloucester Place, London, NW1 5AF. The principal activity of the company continued to be that of a holding company. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
Cardinal Group Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

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.

 
2.9

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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, excluding directors, during the year was 0 (2023 - 0).

Page 3

 
Cardinal Group Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Valuation


At 1 July 2023
2,775,086


Impairment charge
70,000



At 30 June 2024
2,845,086






Net book value



At 30 June 2024
2,845,086



At 30 June 2023
2,775,086


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
9,384,139
9,734,139



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
3,384

Amounts owed to group undertakings
1,954,650
1,954,650

Accruals and deferred income
4,760
7,000

1,959,410
1,965,034



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



122,250 (2023 - 122,250) Ordinary shares of £1 each
122,250
122,250


Page 4

 
Cardinal Group Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

8.


Dividends

2024
2023
£
£


Interim dividends paid on equity capital of £3.27 (2023: £65.65) per share each
400,008
8,025,684


9.


Contingent liabilities

The company has entered into a joint unlimited guarantee with Delsecurity Limited, as subsidiary of the company, against an overdraft facility within Cardinal Estates Limited of £750,000 (2023: £750,000).
At the year end, Cardinal Estates Limited, a subsidiary of the company, has not utilised this facility (2023: £Nil) and therefore no provision has been made in the accounts of Cardinal Group Limited or Delsecurity Limited. 
Cardinal Group Limited is providing a guarantee over the loan in Cardinal Cheapside Limited with Barclays Bank Plc for £4,300,000 (2023: £4,300,000). The company has provided its shares in Cardinal Cheapside Limited as security over this loan. This loan has been repaid since the year end.


10.


Controlling party

The company considers its ultimate control relationship to be the directors of the company. 


Page 5