Company Registration No. SC336908 (Scotland)
CADPEOPLE UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
CADPEOPLE UK LTD
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
32,648
31,780
Current assets
Debtors
4
210,193
157,923
Cash at bank and in hand
134,327
100,879
344,520
258,802
Creditors: amounts falling due within one year
5
(156,748)
(129,371)
Net current assets
187,772
129,431
Total assets less current liabilities
220,420
161,211
Creditors: amounts falling due after more than one year
6
(3,116)
(7,270)
Provisions for liabilities
7
(8,215)
(7,945)
Net assets
209,089
145,996
Capital and reserves
Called up share capital
8
10,000
10,000
Profit and loss reserves
199,089
135,996
Total equity
209,089
145,996
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 August 2025 and are signed on its behalf by:
Mr S W R Bruce
Director
Company Registration No. SC336908
CADPEOPLE UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information
Cadpeople UK Ltd is a private company limited by shares incorporated in Scotland. The registered office is 4 Lochside Way, EDINBURGH, EH12 9DT.
1.1
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.
1.2
Turnover
Turnover comprises the invoiced value of public relation and communication services provided by the company, net of Value Added Tax and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computer Equipment
25% reducing balance
Cyclescheme
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
1.5
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
CADPEOPLE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
14
12
CADPEOPLE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer Equipment
Cyclescheme
Total
£
£
£
£
£
Cost
At 1 March 2024
3,306
14,618
91,251
2,592
111,767
Additions
12,415
1,300
13,715
Disposals
(3,339)
(3,339)
At 28 February 2025
3,306
27,033
89,212
2,592
122,143
Depreciation and impairment
At 1 March 2024
2,326
13,021
62,902
1,738
79,987
Depreciation charged in the year
245
3,503
6,921
214
10,883
Eliminated in respect of disposals
(1,375)
(1,375)
At 28 February 2025
2,571
16,524
68,448
1,952
89,495
Carrying amount
At 28 February 2025
735
10,509
20,764
640
32,648
At 29 February 2024
980
1,597
28,349
854
31,780
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
183,289
138,625
Amounts owed by group undertakings
1,861
Other debtors
8,088
3,252
Prepayments and accrued income
18,816
14,185
210,193
157,923
5
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases (secured)
4,155
4,155
Trade creditors
37,262
45,363
Corporation tax
57,820
24,125
Other taxation and social security
10,737
12,181
Directors current accounts
77
4,375
Accruals and deferred income
46,697
39,172
156,748
129,371
CADPEOPLE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases (secured)
3,116
7,270
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
8,215
7,945
8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
60 A Ordinary Shares of £100 each
6,000
6,000
40 B Ordinary Shares of £100 each
4,000
4,000
10,000
10,000
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
51,875
77,333