Company registration number 11882508 (England and Wales)
CORDIA UK (BRADFORD WORKS) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CORDIA UK (BRADFORD WORKS) LIMITED
COMPANY INFORMATION
Directors
Mr A Kárpáti
Mr T Földi
Company number
11882508
Registered office
22a Great Hampton Street
Birmingham
B18 6AA
Auditor
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CORDIA UK (BRADFORD WORKS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CORDIA UK (BRADFORD WORKS) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
5
2,536,651
2,358,927
Current assets
Debtors
6
62,565
52,786
Cash at bank and in hand
106,948
7,327
169,513
60,113
Creditors: amounts falling due within one year
7
(206,141)
(127,469)
Net current liabilities
(36,628)
(67,356)
Total assets less current liabilities
2,500,023
2,291,571
Creditors: amounts falling due after more than one year
8
(2,573,696)
(2,108,951)
Net (liabilities)/assets
(73,673)
182,620
Capital and reserves
Called up share capital
9
102
101
Share premium account
436,874
422,875
Profit and loss reserves
(510,649)
(240,356)
Total equity
(73,673)
182,620

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 1 September 2025 and are signed on its behalf by:
Mr A Kárpáti
Director
Company Registration No. 11882508
CORDIA UK (BRADFORD WORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Cordia UK (Bradford Works) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22a Great Hampton Street, Birmingham, England, B18 6AA.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Notwithstanding net liabilities of £74k as at 31 December 2024, the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

 

The directors have assessed the ability of the company to continue as a going concern for a period of 12 months from the date of approval of these financial statements and this assessment indicates that the company will have sufficient funds, through funding from its indirect parent company, Cordia International SE to meet its liabilities as they fall due for that period.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

At the year end, £229,509 of interest is included in investment properties.

 

In accordance with Section 25 of FRS102, borrowing costs have been capitalised when they relate to activities necessary to prepare a qualifying asset.

1.5
Borrowing costs related to fixed assets

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

CORDIA UK (BRADFORD WORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Directors
2
2
CORDIA UK (BRADFORD WORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Amounts written off investments
2024
2023
£
£
Fair value gains/(losses)
Loss on investment properties
-
(157,224)
5
Investment property
2024
£
Fair value
At 1 January 2024
2,358,927
Additions
177,724
At 31 December 2024
2,536,651

 

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,217
14,754
Other debtors
44,348
38,032
62,565
52,786
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,162
7,894
Amounts owed to group undertakings
141,191
109,809
Other creditors
37,788
9,766
206,141
127,469
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
2,573,696
2,108,951
CORDIA UK (BRADFORD WORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
102
101
102
101

1 Ordinary share of £1 was issued at a premium of £13,999 during the year.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Colm McGrory FCA
Statutory Auditor:
Ormerod Rutter Limited
Date of audit report:
1 September 2025
11
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024
2023
£
£
20,833
33,333
12
Related party transactions

Cordia UK Holdings Limited is the parent company of the smallest group of which Cordia UK (Bradford Works) Limited is a member, that prepares consolidated accounts. The registered office of Cordia UK Holdings Limited is 22a Great Hampton Street, Birmingham, England, B18 6AA.

 

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

CORDIA UK (BRADFORD WORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
13
Control

Ultimate parent company

FR Group B.V. is regarded by the directors as being the ultimate parent company.

Ultimate controlling party

The ultimate controlling party is Mr G A Futo (as the major shareholder) together with his parents, by virtue of their controlling interest in the ultimate parent company.

2024-12-312024-01-01falsefalsefalse01 September 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityMr A KárpátiMr T Földi118825082024-01-012024-12-3111882508bus:Director12024-01-012024-12-3111882508bus:Director22024-01-012024-12-3111882508bus:RegisteredOffice2024-01-012024-12-31118825082024-12-31118825082023-12-3111882508core:ShareCapital2024-12-3111882508core:ShareCapital2023-12-3111882508core:SharePremium2024-12-3111882508core:SharePremium2023-12-3111882508core:RetainedEarningsAccumulatedLosses2024-12-3111882508core:RetainedEarningsAccumulatedLosses2023-12-3111882508core:ShareCapitalOrdinaryShareClass12024-12-3111882508core:ShareCapitalOrdinaryShareClass12023-12-31118825082023-01-012023-12-31118825082023-12-3111882508core:CurrentFinancialInstruments2024-12-3111882508core:CurrentFinancialInstruments2023-12-3111882508core:Non-currentFinancialInstruments2024-12-3111882508core:Non-currentFinancialInstruments2023-12-3111882508bus:OrdinaryShareClass12024-01-012024-12-3111882508bus:OrdinaryShareClass12024-12-3111882508bus:OrdinaryShareClass12023-12-3111882508bus:PrivateLimitedCompanyLtd2024-01-012024-12-3111882508bus:FRS1022024-01-012024-12-3111882508bus:Audited2024-01-012024-12-3111882508bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3111882508bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP